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Q.

I am a Govt employee having annual income of Rs. 250000/- desires to invest Tax Saving Mutual Fund thrugh SIP with horizon of 10 years Pl guide which fund should be selected and how much amount should be invested.
From - Prasad Shindikar

Asked by prasad shindikar, 22 Feb '09 05:11 pm
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Answers (5)

1.

U can invest in elss then never invest more than 3 comp.
1) relince 2)icici pru 3) hdfc 4) sundram
u choose this in which u want to invest
another thing u always invest in (divident plan )
in any one monthly invest not more than 2k
if u like 10 yrs investing plan then it will good for ur wealth bcz when market will recover then u have good amount of units so go ahead
Answered by vijay kumar, 22 Feb '09 09:08 pm

 
  
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2.

You can invest upto a max of 90k, assuming PF around 10k.
out of this you can invest 10k on insurance like LIC or in PPF.
and remaining (as much as you can) on ELSS (Lumpsum). Go for some scheme which has a proven record over the years. I am suggest this rather than SIP cause you can look at the stock market and decide weather you want to invest at this time or not. (if the stock market is very high u can decide not to invest). You can always have the option of withdrawing this amount after 3 years. Also you will not be stuck with one scheme and regret why u chose that.

adviceonfinance.blogspot.com
Answered by hindustani, 22 Feb '09 07:03 pm

 
  
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3.

You have to save 1 lakh under 80C to save tax. First calculate the total PF that is being deducted by your employer. Balance ( 1 lakh - PF ) you can invest in PPF & ELSS. PF + PPF = Rs 50,000 . Take PURE TERM COVER(about Rs 10000) from Aegon Religare. Their rates are the lowest. Balance 40,000 invest in Sundaram Tax saver. ( lump sum). From the next financial year invest via SIP in the mutual fund. Also invest in PPF before 5th april for next year and enjoy interest for full year.
If you are below 45 years you can opt for DWS TAX SAVING FUND and enjoy free insurance cover .
Answered by RANJAN KARNAD, 22 Feb '09 06:27 pm

 
  
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4.

Hi, with annual annual income of Rs. 250000, you have an option to invest upto Rs. 100000 to avail 80C benefit. Though i am not aware with your financial commitments / this amount is after investing EPF amount. But on assumtion that you want to invest Rs. 100000, i feel you follow ollowing allocations: Rs. 30000/- (EPF / PPF), Rs. 10,000 - Rs. 12,000 (Term Insurance, with this kind of premium a 30 year old can have a insurance cover of aprox Rs. 30 - 35 lacs) & remaining Rs. 60000/- for ELSS (Tax savings mutual fund through SIP).

- Always opt for different dates to contribute you SIP amount e.g. 1 / 2 / 7/ 10 / 14 / 15 / 20 / 21 / 25 / 28, try to make sure that you get maximum entries in the month amoung different schemes.

- If you had opted six - seven schems (i suggest u following)
ICICI Prudential Tax Plan (ELSS)
Kotak Tax Saver (ELSS)
HDFC Long Term Advantage Fund (ELSS)
HDFC Tax Saver (ELSS)
Principal Tax Savings Fund (ELSS) ...more
Answered by Sumeet Dhaawan, 22 Feb '09 05:34 pm

 
  
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5.

I cant Sir
Answered by Anand Agarwal, 22 Feb '09 05:11 pm

 
  
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