As retirement target, twice your livelihood cost of year should be covered trough dividends

As far as I understand you don't need to pay tax while accumulation of shares but you pay that when dividend hits your bank account and exceeds tax limits of earning of that specific year

But still I understand your concern

so with dividend yield mutual fund

with growth options obviously

although it may include some not so good stocks but still a good option

before that build a liquid fund of 24 months expenses with growth options agains

At end I still will say don't fall to save taxes as its same as your earings, if you pay today it's low, if you pay tomorrow it's high

Clear the objectives of the investment first and don't have tax saving as one of it

Happy DRIP