Are they come under Tax Saving?

Hi Pankaj,

I am Investing total 5000Rs/month in 4 mutual funds through SIP for the period of 36 months.
1.HDFC EQUITY FUND - GROWTH PLAN (2000/month)
2.ICICI PRUDENTIAL DISCOVERY FUND -GROWTH (1000/month)
3.ICICI PRUDENTIAL DYNAMIC PLAN GROWTH (1000/month)
4.HDFC MIP-LTP-GROWTH (1000/month)

I want to know that these mutual funds comes under tax saving or not? If not, in which MF should I Invest?

asked Aug 31 '11 at 13:46 by ankit9t 1223


All of these mutual funds are normal equity diversified or monthly income plans and no tax benefit is available for these.

There is a different category of tax saving mutual funds (ELSS) in which you can invest to save income tax under section 80C.

Some of the best funds under that category are below:
Canara Robeco Equity Tax Saver
HDFC Taxsaver
Franklin India Taxshield
DSPBR Tax Saver
Fidelity Tax Advantage

answered Aug 31 '11 at 21:14 by Pankaj Batra 5.2k320

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Asked: Aug 31 '11 at 13:46

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Last updated: Aug 31 '11 at 21:14