I have plan to invest in mutual fund with SIP with tax exception?



Dear experts,

I am new to investment. So to be in a safer side I start my investing in the mutual funds with SIP which have tax exemption scheme like SBI Magnum tax gain. Since my first investment my monthly investment will be Rs 1000/- pm. I have plan to invest in the SBI Magnum tax gain scheme. Is it ok? or Can I invest any other companies MF. After 1 year with this experience I can spread my investment plans. Give guidelines regarding this.

Thanks in advance to the experts….

I have plan to invest in mutual fund with SIP with tax exception?
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One Reply to “I have plan to invest in mutual fund with SIP with tax exception?”

  1. SBI Magnum Tax Gain Scheme comes under ELSS and you can get exemption under 80C up to Rs 1 lakh in any financial year.

    Under the ELSS , there is a compulsory lock in for 3 years. When you buy via SIP , remember that you get units allotted every month. So these units get locked for 3 years from the date of allotment.

    If you have an SIP for Rs 1000 for 1 year , you will be able to withdraw fully only after 4 years or withdraw in parts every month after 3 years.

    Always look for value research ratings for funds.

    Canara Robeco Tax saver / HDFC TAX SAVER is a better option

    Visit http://www.valueresearchonline.com to understand mutual funds.





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