Good Tax Saving Funds

Please advise good tax saver funds for higher returns for F.Y - 2008-09. Ajay, Assam Opt for some well rated tax savers which have performed well in the past years. Some good options can be Sundaram Tax Saver, Magnum Tax Gain or Birla Sun Life Tax Relief 96. What are the tax implications on equity mutual funds. Is there any tax liability if I book losses? Ashok Singhal In case of equity mutual funds, you pay tax only on the gains. The current tax rate is 15 per cent on the amount of gain if the fund is sold within one year. Post one year of holding there is no tax liability. In case of a loss (irrespective of period of holding), you are not liable to any tax. I am 26 years old and wish to start a SIP of Rs 1000. Please suggest some funds. SHISHIR GAUTAM,BHILAI NAGAR (C.G.) Choose from well rated equity diversified funds like Kotak 30, HDFC Top 200, Birla Frontline Equity or Sundaram Select Focus. These funds have a consistent track record and would help you achieve your goals. I would like to invest Rs 24000 per year for 8-10 years. Please suggest two best equity di

This article was originally published on April 16, 2008.