I invested in one large cap , small & mid cap , and one balanced fund.
Can you please suggest best investment option that I can choose so that if I invest an amount of Rs.1,00,000 as lump sum can give more better returns as well as it will provide me the best tax saving purpose also.
I mean can give me a tax saving scheme, that also can give better returns for 10 years period of holding the above investment. I will not touch that money which I will invest as lump sum for 10 years for sure.
Ramesh-May I know the funds which you invested already? Also on what basis you selected these funds which according to you will provide BETTER RETURNS AND TAX SAVING?
I have already in the following funds alreadySBI BLUE CHIP DIRECT GROWTH 5000 rupeesICICI PRU VALUE DISC DIRECT GROWTH 4000 rupeesTATA BALANCED FUND 4000 rupeesSBI MAGNUM MID CAP DIRECT GROWTH 1000 rupeesFRANKLIN INDIA SMALLER COMPINES DIRECT GROWTH 1000 rupeesI am sure i will keep on invest on the above funds for atleast 10 years (may extend but not below 10 years)so now i want to invest in the scheme (whether it is MUTUAL FUND or any other way of invstment) so that i can get tax benift as well as better returns ., as i mentioned if i invest in this lump sum i will not touch that amount for minimum period of 10 yersso now can you just where i can invest this lump sum amount
Ramesh-Retain one small/mid cap fund (among ICICI, Magnum Mid Cap or Franklin). In my view you can continue the same funds. However, if your aim is also tax saving then include Axis Long Term Equity or ICICI Tax Saver.
Hi sir Thanks for the response , Sir , as i mentioned , since i invested in equity mutual funds (which are not covered under any tax benefits ) , i also want to invest the amount that i have and i do not want the money to be sit in my account for the very less interest that bank is paying , so i want to take the tax benefit and also i want to a better return on the lump sum amount that i am going to invest , since this BANK FD , post office RD or FD and other ways (please let me know if any other ways) , are not giving much better returns , i thought of investing in the ELSS type of mutual fund , for tax benefit and for returns , is it correct the decision sir ?
It si right to get expect high return and tax efficiency. But do remember that each investment be aligned to your financial goals. Also, having 100% equity exposure is dangerous. Instead, manage around 30% into debt and 70% into equity for your long term goals.