I have learnt that tax savings can be done through ELSS funds for FY 13-14 also as the DTC is not being enforced. Kindly suggest me a good ELSS fund for an investment horizon of over five years. I want to make an SIP of Rs 2,000 per month. Also, Axis Long Term Equity(G) has performed well over last three years, however VRO rating for this fund is just three stars. What is your view on this?
- P Vijay
The Direct Tax Code (DTC) was not implemented in this year’s budget, which means that you can invest in ELSS funds to avail tax benefits under Section 80C. You can choose a well-rated fund through the fund selector tool on our website for your SIP.
Value Research ratings are not just based on returns. These are risk adjusted ratings. If for a number of months a fund has given low returns, compared to its peers, it will go down in rating.
This article was originally published on April 23, 2013.
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