Invest in ELSS Schemes to Save on Taxes

elss mutual funds

Mutual funds offer an tax saving investment option, parking the money in which, the customer can avail the tax benefits. The Equity Linked savings scheme or ELSS offered by mutual fund provides the same benefit. It is an open-ended equity mutual fund that provides the benefit of tax-saving to the customer.

It offers an opportunity to grow money and save income tax on the investment of up to Rs. 1.5 lakhs under Section 80C of the Indian Income Tax Act. The dividends and long-term capital gains an investor earns are fully tax exempted as per the prevailing tax laws. This investment has a minimum lock-in period of 3 years, that is, the money cannot be withdrawn before 3 years.

If you want to reduce your tax liability and are looking for better investment option that provides the benefit of both, ELSS mutual fund can be an idle choice. If you are new to investment and want to know which funds check the list of top performing funds.

On the basis of past performance, the list of best performing fund is provided below:

Top Performing ELSS Scheme

Here is the list of top performing ELSS mutual funds schemes:

  • Sundaram Long Term Micro Cap Tax Advantage Fund – Series IV – Regular Plan – Growth
  • Sundaram Long Term Micro Cap Tax Advantage Fund – Series III – Regular Plan – Growth
  • Invesco India AGILE (Alpha Generated from Industry Leaders) Tax Fund – Growth
  • BOI AXA Tax Advantage Fund – Regular Plan – Growth
  • Principal Tax Savings Fund
  • Taurus Tax Shield – Regular Plan – Growth
  • SBI Long Term Advantage Fund – Series II – Regular Plan – Growth
  • Escorts Tax Plan – Growth
  • Principal Personal Tax Saver Fund
  • SBI Tax Advantage fund – Series II – Growth
  • Aditya Birla Sun Life Tax Plan – Dividend
  • Aditya Birla Sun Life Tax Relief 96 – (ELSS US 80C of IT ACT) – Dividend
  • SBI Long Term Advantage Fund – Series I – Regular Plan – Growth
  • Tata India Tax Savings Fund – Regular Plan – Dividend Pay
  • IDFC Tax Advantage (ELSS) Fund – Regular Plan – Growth
  • Aditya Birla Sun Life Tax Savings Fund – Growth
  • Motilal Oswal MOSt Focused Long Term Fund – Regular Plan – Growth
  • Peerless Long Term Advantage Fund – Regular Plan – Growth
  • UTI Long Term Advantage Fund – Series III – Growth
  • Sahara Tax Gain Fund – Growth
  • Mirae Asset Tax Saver Fund – Regular Plan – Growth
  • L&T Tax Advantage Fund – Regular Plan – Growth
  • Edelweiss ELSS Fund – Regular Plan – Growth
  • DSP Black Rock Tax Saver Fund – Regular Plan – Growth
  • SBI Tax Advantage fund – Series III – Regular Plan – Growth
  • Kotak Tax Saver Scheme – Growth
  • DHFL Pramerica Long Term Equity Fund – Regular Plan – Growth
  • Baroda Pioneer Equity Linked Saving Scheme 96
  • Sundaram Diversified Equity – Dividend
  • HSBC Tax Saver Equity Fund – Growth
  • SBI Long Term Advantage Fund – Series IV – Regular Plan – Growth
  • ICICI Prudential RIGHT (Rewards of Investing and Generation of Healthy Tax Savings) Fund – Growth
  • DHFL Pramerica Tax Plan – Growth
  • Tata Infrastructure Tax Saving Fund – Growth
  • BNP Paribas Long Term Equity Fund – Growth
  • UTI Long Term Advantage Fund – Series IV – Growth
  • JM Tax Gain Fund – Growth
  • Sundaram Long Term Tax Advantage Fund – Series II – Regular Plan – Growth
  • Axis Long Term Equity Fund – Growth
  • Edelweiss Tax Advantage Fund – Regular Plan – Growth
  • IDBI Equity Advantage Fund – Regular Plan – Growth
  • UTI Long Term Advantage Fund – Series V – Growth
  • UTI Master Equity Plan Unit Scheme
  • Reliance Tax Saver (ELSS) Fund – Growth
  • ICICI Prudential Long Term Equity Fund (Tax Saving) – Growth
  • Union Tax Saver Scheme – Growth
  • Canara Robeco Equity Tax Saver Fund – Regular Plan – Dividend
  • SBI Magnum TaxGain Scheme 1993 – Regular Plan – Dividend
  • UTI Long Term Advantage Fund – Series II – Growth
  • UTI Long Term Equity Fund (Tax Saving) – Income
  • Reliance Equity Linked Saving Fund – Series I – Growth
  • Sundaram Long Term Micro Cap Tax Advantage Fund – Series V – Regular Plan – Growth
  • Invesco India Tax Plan – Growth
  • L&T Long Term Advantage Fund – Series I – Cumulative
  • LIC MF Tax Plan – Growth
  • HDFC Long Term Advantage Fund – Growth
  • SBI Tax Advantage Fund – Series I – Growth
  • Mahindra Mutual Fund Kar Bachat Yojana – Regular Plan – Growth
  • Sundaram Long Term Tax Advantage Fund – Series I – Regular Plan – Growth
  • L&T Tax Saver Fund – Cumulative

Advantages of investing in ELSS Schemes

The customer investing in Equity Linked Saving Scheme gets the following benefits:

  1. They help to save taxes.
  2. They help to create wealth.
  3. They come with a lower lock-in period of 3 years.

 

Read Also:  ELSS Funds are Here to Give You Capital Appreciation and Tax Benefits

Disclaimer : Mutual Fund Investments are subject to market risks, read all scheme related documents carefully before investing.

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