ELSS - Tax Planning Funds

We are at the beginning of financial year 2008-09. If we are moneytalkers, we almost definitely follow the advice of finance gurus, that it is SIP that will take us to our dream destination of Lakhs and crores! Let's plan our ELSS funds and start SIPping for this year.

Step 1: Identify how much you want to invest in ELSS funds this year.
Step 2: Select 2,atmost 3 tax savings funds based on their 1-year, 3-year performances.
Step 3: Divide the amount by 12, then equally distribute the amount into the 2(or 3) funds you have selected and start the SIP.

I will just illustrate it with an example. Think you need to invest Rs. 60,000 this year in ELSS. That's Rs. 5000 per month. Select 2 good ELSS funds and start an SIP of Rs 2,500 each.
And lo! you are done with your tax planning for this year and you won't even feel the pinch!

Let's discuss the funds we will invest in this year.

I have listed top performing ELSS funds with their 1-year returns:

1. Sundaram BNP Paribas tax Saver(27.68%)
2. Franklin India TaxShield(21.69%)
3. Canara Robeco Equity Tax Saver(20.39%)
4. Magnum Taxgain(19.28%)
5. Birla Equity Tax Plan(13.33%)
6. HDFC LT Advantage(11.91%)

Money talkers, take your pick and let's dicuss the funds of our choice here!

That was some good thought...

yesterday I opted for 2 SIP schemes- Reliance Growth Fund and SBI Magnum Taxgain...

Have to explore more

Some facts:
a. I am invested in Magnum tax gain (dividend reinvestment). The dividend scheme has fetched me 25% as dividend for the 1st year and also there is a capital appreciation on the invested amount.
b. Holding Fidelity growth (SIP) from last year. The investment has appreciated by 2%.


This year I am into Magnum tax gain (Growth), Sundaram, Fidelity, Principal tax saving funds as an systematic investor (SIP)... Need to see how things go after the fall in Jan & the current rally.....

@ Vishwas- let us wish each other all the best...

I need some information on current SIP mutual fund investment which can preform better in feature.

hi everyone..
I needed this and i got it from your post..
thanku...
regards,
phe9oxis,
http://www.guidebuddha.com

hi all..
i have listed top performing ELSS funds with their 1-year returns:
1. Sundaram BNP Paribas tax Saver(27.68%)
2. Franklin India TaxShield(21.69%)
3. Canara Robeco Equity Tax Saver(20.39%)
4. Magnum Taxgain(19.28%)
5. Birla Equity Tax Plan(13.33%)
6. HDFC LT Advantage(11.91%)

regards,
phe9oxis,
http://www.guidebuddha.com