I want to invest some amount in SIP, which can be a tax saver as well as moderate risk with high returns. Can you suggest some plans?
You can start investing through SIPs in an Equity Linked Savings Scheme (ELSS) or tax saving/planning schemes. Investments in these schemes qualify for tax deductions of up to Rs 1.5 lakh under Section 80C of the Income Tax Act. These schemes invest in stocks and they come with a mandatory lock-in period of three years. Though the lock-in period is only three years, you should invest in the with an investment horizon of five to seven years. They can offer you superior return than other investments allowed under Section 80C in the long term. You may consider investing in one these schemes: L&T Tax Advantage, Aditya Birla Sun Life Tax Relief 96, DSP BlackRock Taxsaver.