These are the cheapest form of paper gold. The annual charges range from 0.5% to 1.2% of the AUM. But you also need to have a demat and trading account to be able to invest in ETFs.

2. Gold funds of funds

These are funds that invest in gold ETFs. Don't be misled by the low expense ratio of 0.5-0.6%. Your real cost is higher because you will also be paying the expense ratio of the ETFs in their portfolio.

3. Bars, coins, ornaments

When you buy a gold bar or coin from a bank, the mark up can be as high as 10-15% of the gold value. In jewellery, the making charges can be up to 25% of the gold value.

Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015

1.ICICI Prudential Tax Plan

2.Reliance Tax Saver (ELSS) Fund

3.HDFC TaxSaver

4.DSP BlackRock Tax Saver Fund

5.Religare Tax Plan

6.Franklin India TaxShield

7.Canara Robeco Equity Tax Saver

8.IDFC Tax Advantage (ELSS) Fund

9.Axis Tax Saver Fund

10.BNP Paribas Long Term Equity Fund

You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds

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For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

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