Question : i am beginner investor, wants to invest in tax saving mutual funds....?
i dont have any idea about mutual funds. The main reason i want to invest in mutual funds is to avoid tax and so, i want to know the details of the tax saving mutual funds. For example, i want to invest around 20k. If i do so, the whole 20k will be non taxable only, right? can you please provide me clear details ? Please provide some written data rather than giving some links(as i have already searched in web) ;)i dont have any idea about these jargons like dividend,returns?
- asked by vinney_143
All Answers:
Answer #1
sbi has announced magnum taxgain to save tax ."gettax benefits on investments upto Rs.1 lakh". sms'taxgain' to 56161, call:1800 22 30 40 or visitwww.sbimf.com to know further details.
- answered by ramarekha
Answer #2
If you don't have idea about financial jargon likedividend and returns, it is best for you to saveusing insurances. LIC has a good trust amongpeople when it comes to returning their money. Not sure about others that have popped uprecently.I look at savings as a multi-storeybuilding. The foundation is in the bank savingssuch as RD and FD. The ground floor is likeinsurance policies. The first floor is likemutual funds. The second floor is likeinvestments in stock market. The third floor islike your salary. It is from here, you will makethe underlying storeys stronger everyday. Manysalaried people don't go farther.Businesses,however, have a much taller multi-storey structurewhen it comes to finances.
- answered by katnev
Answer #3
For tax savings you can go for investments thatare eligible for tax deduction U/s 80c. Yourtaxable income will be reduced to the extant ofyour 80c investments subject to maximum deductionof Rs.1 lake per year. Regarding tax saving MutualFunds (MF): You have to invest in any Unit linkedinsurance Plan (ULIP). Now the stock market ishot and I advise you not to go for ULIP. It isrisky. You may gain or you may lose in ULIPinvestment. It is all depend on the stock market. If you still want to invest in MF, then ask theagent for incentive (commetion). Last year a LICagent has given Rs.8,000 (incentive) back for theinvestment of LIC Money Plus Rs.80,000. He hastaken only 72,000 and given us units forRs.80,000. If you want a safe investment invest inNSC, PPF or a bank FD which is eligible U/s 80c.Iam still giving you a web link for 80Cinvestments. Your web search is different and ourweb link will be different. I have given you aweb link which you will understand well.
- answered by N.J.Reddy
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measure and fulfill your financial needs
