I can invest Rs 2,000 – Rs 3,000 every month through SIPs. Can you advice which funds to invest in that has moderate risk and tax benefits?- Samuel Raja
Equity Linked Savings Scheme (ELSS) is a fund scheme that offers tax deductions on investments and comes with a three-year lock-in. These do have equity exposure and moderately risky. Considering your requirements you can consider investing in Fidelity Tax Advantage or Canara Robeco Equity Tax Saver, which are amongst the best performing finds in the tax planning category and have a low risk grade. However, you should be aware that each SIP in these fund has to complete the three year lock-in to avail the tax deductions and hence you should make your investments keeping this in mind.
This article was originally published on August 26, 2011.
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