Which Tax Fund to Invest?

Hi this is gopal, I am interested in buying MF for my tax reduction come profit
What are the MF u suggest me to invest for a locking period of 3 years.

SRIKANTH SHANKAR MATRUBAI's reply ::
Hello Dear Gopal,
Mutual Funds are the best avenue for Tax Saving Purpose as well as to Earn Above Inflation Returns. Please note all your investments in Equity Linked Savings Scheme (ELSS) are locked for 3 years. Though you have not provided your time horizon, risk capability, goals, targets, etc. I am recommending the following as a Thumb rule which I normally give without any hesitation.
Birla Sunlife Tax Relief 96 Fund (Right now it is offering Free Life Insurance as additional benefit, if you invest through sip. Make full use of it)
DWS Tax Saving Fund (It too offers Free Life Insurance 5 times your investment and has also been consistent in its performance since launch)
Fidelity Tax Advantage Fund
HDFC Tax Saver Fund
Lotus India Tax Plan
Principal Personal Tax Saver (offers Free Personal Accident Insurance Cover)
Sundaram Tax Advantage.

Never invest in ULIPs for Tax Purpose. Insurance is NOT investment. Always invest in Mutual funds. As far as possible, invest through Sips.

Regards,
Best of luck,
Srikanth