I want to buy Mutual Fund for Tax benefit. Can anyone suggest me gud mutual funds to buy? How about taking HDFC Taxsaver?

A Mutual Fund ELSS is similar to diversified equity funds. That means the fund manager can invest in shares of various companies across various industries. The difference is ELSS has got the added tax benefit, something a diversified equity fund does not offer........................ http://holisticinvestment.in/mutual-fund-elss.................. Regards.................... Ramalingam K, MBA, CFP,........... Director and Chief Financial Planner,.............. Holistic Investment Planners............... “Best Performing Financial Advisor Award” Winners from CNBC TV18............... www.holisticinvestment.in

 There are many tax saving plans available in the market which you can opt. I personally have opted for Birla Sun Life tax saving plan which allows reducing taxable income by up to Rs. 1 Lakh. Here are some details about the tax reckoner for the year 2012-13. Have a look at it and decide yourself which suits you the best.

ELSS is a kind of mutual fund that is for investing in equities and debts. About 90% of the investment is in equities while the rest is in debts. There are many providers of ELSS.

 Elss invest primarily in equities. Investment in ELSS mutual funds can be done up to the limit of 1 lakh under section 80C. Consider investing in ELSS funds for a longer duration since equities deliver only in the  long run. You can consider Canara robecco equity tax saver or ICICI pru tax plan considering their performance in the past 5 years.

You can invest in Canara Robeco Equity Taxsaver. In case you prefer a fund with lower volatility and tilt towards large cap, Franklin India Tax shield can also be a good choice. Abhinav Gulechha CFP