Tax Saving Mutual Funds

[Matrix]

Hi All,

I am looking to invest in Tax Saving Mutual Funds. As I am new investor, could you please help me -
Which Tax Saving Mutual Funds are good?

[Master]

I think you may choose between -
1.Magnum Taxgain
2.Principal Tax Savings Fund
3.Birla Tax Relief

The principal Tax Savings is a small cap dominated fund so it comes with high risk and high volatility but has a potential to deliver high returns.

So choose one and invest regularly through SIPs rather than One time Lump sum Investment.

[Natraj]

According to me, good tax savings funds are -

Birla tax saver,
Sbi magnum tax gain,
ICICI prudential tax saver.

[Master]

DSP ML Tax savings Fund is also a good tax saving fund. Though has given very good return but has also fallen to a large extent in the current market fall. It is a comparitively new fund.
I think the funds mentioned above are better.

[Rahul]

Also add Principal Tax Savers Fund. Think about Sundaram Tax saver fund also.

[Sanjay]

Hi All,

I am looking to invest in Tax Saving Mutual Funds. As I am new investor, could you please help me -
Which Tax Saving Mutual Funds are good?
Few good Tax savers are -
Sundaram Tax saver
Birla Tax plan
Principal Personal tax saver
SBI Magnum tax gain

[mutualfund00]

I suggest 1) SBI mutual fund 2) ICICI Direct 3) Taurus Mutual fund

[Krypton]

I suggest 1) SBI mutual fund 2) ICICI Direct 3) Taurus Mutual fund ICICI Direct is online trading website, not an ELSS.

[magnet]

I suggest 1) SBI mutual fund 2) ICICI Direct 3) Taurus Mutual fund

Thanks for pulling up a 2 year old thread.

Just a note.This is final year for elss to be counted as tax deduction.

[damon]

If my opinion is considered, i would suggest you to go for SBI Magnum TaxGain. Choosing a government firm is wise. As far as safety is concerned, you can rest assure.

[magnet]

If my opinion is considered, i would suggest you to go for SBI Magnum TaxGain. Choosing a government firm is wise. As far as safety is concerned, you can rest assure.

SBI is a government company but that doesnt mean its safest.I have invested 5k around 5 years back its value is not even 3k right now.
Also see last 5 years return its on top 10 of worst performing tax savings fund.

Its hay days are over around 2005-2006 when its hero fund manager left the company.

Also being a government .They invest in worst performing government assets what i have seen so they keep remain floating and tax payer money goes down the drain.

[Madhura]

Magnet - I am believer of reviewing my mutual funds every year (yes, you cannot withdraw before three years in ELSS :-() but you can avoid further investing in it. And UTI US 64 everyone aware about is also govt. backed.