Recurring deposits v/s debt funds
If you are looking for assured returns, go for a recurring bank deposit. Consider debt funds if you can assume little risk
Recurring deposits offer fixed assured returns, whereas returns on debt mutual funds are linked to the market. If you are looking for assured returns, you should opt for a recurring bank deposit. If you are ready to take a little extra risk, you can consider investing in short-term debt schemes. Short-term debt schemes have given round 9.85 per cent in the last year. However, you need to consider whether it is worth the effort because the difference in returns may not be very big at the end of the exercise.
Investments in debt schemes held below three years attract short-term capital gains tax. That means the returns would be added to your income and taxed as per the applicable slab. The fund house will not cut any TDS and you will have to show the entire amount as other income while filing Income Tax returns.
Here is a list of short-term debt schemes we had recommended last year: HDFC Short Term Opportunities, Peerless Short Term,Principal Income Short-Term, Sundaram Select Debt Short-Term,Franklin India Short-Term Income Ret and UTI Short-Term Income Inst.
Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015
1.ICICI Prudential Tax Plan
2.Reliance Tax Saver (ELSS) Fund
3.HDFC TaxSaver
4.DSP BlackRock Tax Saver Fund
5.Religare Tax Plan
6.Franklin India TaxShield
7.Canara Robeco Equity Tax Saver
8.IDFC Tax Advantage (ELSS) Fund
9.Axis Tax Saver Fund
10.BNP Paribas Long Term Equity Fund
You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds
Invest in Tax Saver Mutual Funds Online -
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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