Beginners can invest in ELSS funds to save tax and get equity exposure...
06-May-2013 •Research Desk
My monthly salary is Rs 30,000 and want to invest Rs 8,000 as SIP in Mutual Fund. Please suggest me a fund without any debt allocation because I am already investing in PPF.
After investing in PPF if you still have some underutilised deduction under 80C, then Equity Linked Saving Scheme (ELSS) will be a great option for you. Tax saved is also income earned. Tax saving funds are an excellent gateway for starters in mutual fund investments. Apart from saving tax these funds will provide you the growth of equity. The remaining amount you can be put into good performing large- and mid-cap funds.