Best Tax saving Investment option in India

If you intend to Invest your money as well as Save tax, then here is your best option

Since last 3-4 years, Investment in ELSS has been proven itself to give the best returns as well as tax savings.

SBI Magnum Tax Gain Growth Fund, is considered best and biggest ELSS scheme. In last 3 years it has given returns of 170% which is more then any other investment options even other risky options. + Add your tax savings of 30% , the total benefit is 200% in 3 years. Even 100% benefit will be considered very high.

Tax savings: Many people do not focus on Tax savings and think that all the money they need to invest to get tax savings is loss of their savings, very long term investments (10-20 yrs) and the returs will be setoff significantly by the inflation.

But this is not true if you look at ELSS. ELSS has lock in period of 3 years only, the return on investment is extremely high and inflation is negligable amount.

Investment in LIC has 2 components Insurance component and Investment component. Your premium is partly used to provide insurance and partly invested on your behalf to give returns. Due to this your returns are not high. Also sometimes for focusing into returns you may end up selecting wrong insurance policy and its very confusing. I suggest to consider insurance saperate from the Investment.

Only take pure insurance policy form LIC or other Insurance provider like Term insurance + Whole life insurance (limited payment). Riders for disability may be considered.

I suggest all people to invest in ELSS schemes in India to save tax and get best returns on investments

For more Detail Visit Avdhoot Investment