I want to invest Rs 1 lakh in ELSS funds via the SIP mode. I am looking for tax rebate with a return of 12-15 per cent.
ELSS funds are the only equity-linked tax-saving instrument available to investors, and this will be the last year to use them, unless there is any change in the DTC. Expecting these funds to deliver about 12-15 per cent is not unreasonable if you invest over the next 6-8 months and hold your investments for 3-5 years. Some fund options to choose from are Taurus Tax Shield, Religare Tax Plan and Canara Robeco Equity Tax Saver.