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Business News/ Mint-lounge / Invest wisely
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Invest wisely

Invest wisely

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The time to save tax and make investments has arrived once again. This explains why there are a barrage of ads on equity-linked saving schemes (ELSS). But before putting money into any of these schemes, just check past performance and the period for which these funds have been around. HDFC Taxsaver (52%), Magnum Taxgain (66%) and Prudential ICICI Tax Plan (48%) are schemes that have given good returns and have been in existence for five years. Some recently launched tax-saving schemes are Lotus India Tax Plan, HSBC Tax Saver Equity and DSPML Taxsaver, DWS Taxsaving and Fidelity Tax Advantage. Schemes that have been around for more than a year, such as Kotak Tax Saver, ABN AMRO Tax Advantage Plan, Reliance Tax saver and ING Vysya Tax Savings, have given an average return of 24% during the last year.  

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Published: 19 Feb 2007, 12:55 AM IST
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