Hi Sreekanth,
For the financial year 2017 -18 , i have invested in 2 ELSS through a distributor starting March 2017 in SIP's of 5000 each. One is Birla Sunlife Tax Relief 96 and other is Sundaram Tax saver.
I am planning to switch any one of the above to a balanced\Small cap fund so that i can withdraw the lumpsum after 4 -5 years.
If I do that, then under section 80C, i can have the below
ELSS - 60000
Provident Fund - 54000
Term Plan - 13500 // have to invest as this should have been my first priority
Either PPF or NPS - 24000 // 2000 per month just to cover the Sec 80C limit
This way i can cover my sec 80C .
My questions are
- Can you let me know if i am doing the right thing by switching out either 1 of the ELSS
3 Answers
Hi,
1 - You may retain Birla Tax saver fund.
2 - NPS , kindly read:
https://www.relakhs.com/national-pension-scheme-nps-drawbacks/
3 - May I know your investment objectives, goals & time-frame?
4 - Yes you can switch from Regular to Direct. Suggest you to retain the existing investments (as this is an ELSS fund, units are locked for 3 years) and make future investments in Direct Scheme instead.
Read:
https://www.relakhs.com/mutual-fund-direct-plans-vs-regular-plans/
https://www.relakhs.com/direct-mutual-fund-plans-buy-online/
https://www.relakhs.com/mfutility-invest-direct-plans-mutual-fund-schemes-online/
Thankyou for your response. Ill retain both the ELSS funds and switch them to Direct ones.
I am having the below goals as of now.
1. To invest 10k SIP which i need after 1 to 1.5 years.
2. To invest 15k SIP for 3 years. Can you suggest me as to in which Direct funds should i invest. Thanks,
Sushant
I am having the below goals as of now.
1. To invest 10k SIP which i need after 1 to 1.5 years.
2. To invest 15k SIP for 3 years. Can you suggest me as to in which Direct funds should i invest. Thanks,
Sushant
Hi,
1 - You may consider Ultra Short term fund or Short term fund.
Kindly read:
https://www.relakhs.com/debt-funds-types-benefits-risk-vs-return/
https://www.relakhs.com/best-debt-mutual-funds-india-top-debt-funds/
2 - You may consider an MIP fund.
https://www.relakhs.com/best-monthly-income-plans-india-mutual-funds/
Please login or Register to submit your answer
