Invest in Tax saving funds

MANOJ wrote :::
I want to know which ELSS is best for SIP SBI tax gain or principal personal tax... or any other ?

SRIKANTH SHANKAR MATRUBAI'S REPLY :::
Dear Manoj,
Invest in ELSS only when have to save tax via Sec 80C. Otherwise, always invest in Diversified Equity Funds. Your choice of investment through SIP is laudable.
My recommendation for ELSS funds are as follows:
Birla Sunlife Tax RElief 96 Fund
DSPML Tax Saver Fund
DWS Tax Saving Fund (Free Life Insurance of 5 times your investment is an added bonus)
Fidelity Tax Advantage Fund
HDFC Tax Saver fund
Kotak Tax Saver Fund
Lotus India Tax Plan
Prinicipal Personal Tax Saver Fund
Sundaram Tax Saver.

Sbi Magnum Tax Gain had a terrific past. But its bloated corpus may come in the way of superlative returns in future. Of the above, my personal favourite has been Birla Sunlife TAx Relief 96 for Aggresive Investors and Fidelity Tax Advantage for passive investors. Sundaram Tax Saver is a 'Must Have' in every ELSS portfolio.
Best of luck,
Srikanth shankar Matrubai