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6 Best Performing Tax Saving Mutual Funds 2023 | Fincash.com

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6 Best Performing Tax Saving Mutual Funds 2023

Updated on May 25, 2023 , 2492 views

With tax season around the corner, investors who invest in ELSS always look at the funds that are performing best in the Market. Since, many investors find it difficult to choose one fund amongst so many, we are here to suggest some best performers in the ELSS category.

Investors can invest in these funds and save up to INR 1.5 lakh every year under Section 80C of income tax Act 1961. ELSS schemes have a lock-in period of minimum 3 years. Our recommended best performing tax saving Mutual Funds has been carefully shortlisted by undertaking some of the important parameters like AUM, NAV, past performances, etc.

Thus, investors can easily plan their tax savings by Investing in these funds.

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Tax-Savings

Best Performing Tax Saving Mutual Funds

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2022 (%)
IDFC Tax Advantage (ELSS) Fund Growth ₹106.313
↑ 1.01
₹4,3337.63.21937.712.84.2
Tata India Tax Savings Fund Growth ₹29.7686
↑ 0.26
₹3,1743.9-1.715.227.511.55.9
L&T Tax Advantage Fund Growth ₹84.2135
↑ 0.78
₹3,0548.2419.925.48.7-3
HDFC Long Term Advantage Fund Growth ₹595.168
↑ 0.28
₹1,3181.215.435.520.617.4
Kotak Tax Saver Fund Growth ₹78.651
↑ 0.76
₹3,5606.3218.929.514.26.9
Sundaram Diversified Equity Fund Growth ₹158.615
↑ 1.38
₹1,6225.80.616.428.69.14
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 26 May 23
*List of TAX Saving mutual funds having net assets between 1000 Crore to 10,000 Crores.

1. IDFC Tax Advantage (ELSS) Fund

The investment objective of the Scheme is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related securities. There can be no assurance that the investment objective of the scheme will be realised.

IDFC Tax Advantage (ELSS) Fund is a Equity - ELSS fund was launched on 26 Dec 08. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 17.8% since its launch.  Ranked 3 in ELSS category.  Return for 2022 was 4.2% , 2021 was 49.2% and 2020 was 18.7% .

Below is the key information for IDFC Tax Advantage (ELSS) Fund

IDFC Tax Advantage (ELSS) Fund
Growth
Launch Date 26 Dec 08
NAV (26 May 23) ₹106.313 ↑ 1.01   (0.95 %)
Net Assets (Cr) ₹4,333 on 30 Apr 23
Category Equity - ELSS
AMC IDFC Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 1.95
Sharpe Ratio -0.07
Information Ratio 1.16
Alpha Ratio -0.58
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Apr 18₹10,000
30 Apr 19₹9,394
30 Apr 20₹7,267
30 Apr 21₹12,890
30 Apr 22₹16,282
30 Apr 23₹16,923

IDFC Tax Advantage (ELSS) Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹415,684.
Net Profit of ₹115,684
Invest Now

Returns for IDFC Tax Advantage (ELSS) Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 26 May 23

DurationReturns
1 Month 5.7%
3 Month 7.6%
6 Month 3.2%
1 Year 19%
3 Year 37.7%
5 Year 12.8%
10 Year
15 Year
Since launch 17.8%
Historical performance (Yearly) on absolute basis
YearReturns
2022 4.2%
2021 49.2%
2020 18.7%
2019 1.9%
2018 -9.4%
2017 53.4%
2016 0.4%
2015 6.9%
2014 42.2%
2013 15%
Fund Manager information for IDFC Tax Advantage (ELSS) Fund
NameSinceTenure
Daylynn Pinto20 Oct 166.53 Yr.

Data below for IDFC Tax Advantage (ELSS) Fund as on 30 Apr 23

Equity Sector Allocation
SectorValue
Financial Services27.23%
Industrials13.77%
Consumer Cyclical13.37%
Basic Materials10.49%
Technology8.41%
Health Care6.4%
Consumer Defensive6.35%
Energy3.91%
Communication Services2.44%
Utility1.47%
Asset Allocation
Asset ClassValue
Cash6.16%
Equity93.84%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 May 16 | ICICIBANK
8%₹349 Cr3,800,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Sep 14 | HDFCBANK
4%₹177 Cr1,050,000
Reliance Industries Ltd (Energy)
Equity, Since 31 Jul 18 | RELIANCE
4%₹169 Cr700,000
↑ 25,000
Infosys Ltd (Technology)
Equity, Since 31 Jul 15 | INFY
4%₹169 Cr1,350,000
Axis Bank Ltd (Financial Services)
Equity, Since 30 Apr 21 | AXISBANK
4%₹168 Cr1,950,000
↑ 100,000
State Bank of India (Financial Services)
Equity, Since 30 Jun 20 | SBIN
3%₹145 Cr2,500,000
↓ -500,000
Tata Motors Ltd (Consumer Cyclical)
Equity, Since 31 May 20 | TATAMOTORS
3%₹126 Cr2,600,000
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 30 Apr 22 | HDFC
3%₹118 Cr425,000
↑ 75,000
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Jan 20 | BHARTIARTL
2%₹106 Cr1,325,000
NCC Ltd (Industrials)
Equity, Since 28 Feb 19 | NCC
2%₹104 Cr8,700,000
↓ -300,000

2. Tata India Tax Savings Fund

To provide medium to long term capital gains along with income tax relief to its Unitholders, while at all times emphasising the importance of capital appreciation..

Tata India Tax Savings Fund is a Equity - ELSS fund was launched on 13 Oct 14. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 13.5% since its launch.  Ranked 1 in ELSS category.  Return for 2022 was 5.9% , 2021 was 30.4% and 2020 was 11.9% .

Below is the key information for Tata India Tax Savings Fund

Tata India Tax Savings Fund
Growth
Launch Date 13 Oct 14
NAV (26 May 23) ₹29.7686 ↑ 0.26   (0.90 %)
Net Assets (Cr) ₹3,174 on 30 Apr 23
Category Equity - ELSS
AMC Tata Asset Management Limited
Rating
Risk Moderately High
Expense Ratio 0
Sharpe Ratio 0.07
Information Ratio -0.64
Alpha Ratio 1.67
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Apr 18₹10,000
30 Apr 19₹10,098
30 Apr 20₹8,706
30 Apr 21₹12,808
30 Apr 22₹15,233
30 Apr 23₹16,155

Tata India Tax Savings Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹405,518.
Net Profit of ₹105,518
Invest Now

Returns for Tata India Tax Savings Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 26 May 23

DurationReturns
1 Month 3.6%
3 Month 3.9%
6 Month -1.7%
1 Year 15.2%
3 Year 27.5%
5 Year 11.5%
10 Year
15 Year
Since launch 13.5%
Historical performance (Yearly) on absolute basis
YearReturns
2022 5.9%
2021 30.4%
2020 11.9%
2019 13.6%
2018 -8.4%
2017 46%
2016 2.1%
2015 13.3%
2014
2013
Fund Manager information for Tata India Tax Savings Fund
NameSinceTenure
Tejas Gutka9 Mar 212.14 Yr.

Data below for Tata India Tax Savings Fund as on 30 Apr 23

Equity Sector Allocation
SectorValue
Financial Services36.13%
Industrials17.36%
Consumer Cyclical9.7%
Technology7.84%
Basic Materials5.22%
Energy5.15%
Communication Services5.03%
Health Care4.86%
Utility2.69%
Consumer Defensive2.31%
Real Estate1.31%
Asset Allocation
Asset ClassValue
Cash2.41%
Equity97.59%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 28 Feb 10 | HDFCBANK
7%₹220 Cr1,305,000
ICICI Bank Ltd (Financial Services)
Equity, Since 30 Nov 16 | ICICIBANK
7%₹213 Cr2,325,000
Reliance Industries Ltd (Energy)
Equity, Since 31 Jan 18 | RELIANCE
5%₹163 Cr675,000
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 30 Jun 17 | HDFC
5%₹160 Cr575,000
Infosys Ltd (Technology)
Equity, Since 30 Sep 18 | INFY
5%₹145 Cr1,160,000
State Bank of India (Financial Services)
Equity, Since 30 Nov 18 | SBIN
5%₹145 Cr2,500,000
Axis Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | AXISBANK
4%₹126 Cr1,465,000
Larsen & Toubro Ltd (Industrials)
Equity, Since 30 Nov 16 | LT
3%₹92 Cr390,000
Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Sep 19 | BHARTIARTL
3%₹91 Cr1,140,000
Radico Khaitan Ltd (Consumer Defensive)
Equity, Since 30 Jun 22 | RADICO
2%₹73 Cr650,000

3. L&T Tax Advantage Fund

To generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities.

L&T Tax Advantage Fund is a Equity - ELSS fund was launched on 27 Feb 06. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 13.2% since its launch.  Ranked 7 in ELSS category.  Return for 2022 was -3% , 2021 was 30.3% and 2020 was 13.5% .

Below is the key information for L&T Tax Advantage Fund

L&T Tax Advantage Fund
Growth
Launch Date 27 Feb 06
NAV (26 May 23) ₹84.2135 ↑ 0.78   (0.94 %)
Net Assets (Cr) ₹3,054 on 30 Apr 23
Category Equity - ELSS
AMC L&T Investment Management Ltd
Rating
Risk Moderately High
Expense Ratio 1.97
Sharpe Ratio -0.02
Information Ratio -0.73
Alpha Ratio 0.36
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Apr 18₹10,000
30 Apr 19₹9,276
30 Apr 20₹7,794
30 Apr 21₹11,679
30 Apr 22₹13,345
30 Apr 23₹13,956

L&T Tax Advantage Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹376,357.
Net Profit of ₹76,357
Invest Now

Returns for L&T Tax Advantage Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 26 May 23

DurationReturns
1 Month 6.2%
3 Month 8.2%
6 Month 4%
1 Year 19.9%
3 Year 25.4%
5 Year 8.7%
10 Year
15 Year
Since launch 13.2%
Historical performance (Yearly) on absolute basis
YearReturns
2022 -3%
2021 30.3%
2020 13.5%
2019 4.6%
2018 -8.1%
2017 42.3%
2016 8.1%
2015 2.9%
2014 44.8%
2013 6.8%
Fund Manager information for L&T Tax Advantage Fund
NameSinceTenure
Gautam Bhupal26 Nov 220.43 Yr.
Cheenu Gupta2 Jul 211.83 Yr.

Data below for L&T Tax Advantage Fund as on 30 Apr 23

Equity Sector Allocation
SectorValue
Financial Services26.53%
Consumer Cyclical16.25%
Industrials15.74%
Technology11.41%
Consumer Defensive9.29%
Basic Materials7.46%
Energy5.59%
Health Care3.98%
Utility1.91%
Asset Allocation
Asset ClassValue
Cash1.84%
Equity98.16%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Mar 06 | HDFCBANK
9%₹287 Cr1,698,800
↑ 180,800
ICICI Bank Ltd (Financial Services)
Equity, Since 30 Jun 09 | ICICIBANK
6%₹185 Cr2,013,000
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 21 | RELIANCE
6%₹171 Cr705,600
Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Jul 22 | LT
4%₹136 Cr574,100
Indian Hotels Co Ltd (Consumer Cyclical)
Equity, Since 31 Oct 21 | INDHOTEL
4%₹123 Cr3,618,800
↓ -621,700
UltraTech Cement Ltd (Basic Materials)
Equity, Since 31 Oct 19 | ULTRACEMCO
3%₹104 Cr137,800
Hindustan Unilever Ltd (Consumer Defensive)
Equity, Since 31 Jul 22 | HINDUNILVR
3%₹103 Cr419,300
KPIT Technologies Ltd (Technology)
Equity, Since 30 Sep 21 | KPITTECH
3%₹97 Cr1,059,800
Cholamandalam Investment and Finance Co Ltd (Financial Services)
Equity, Since 31 Dec 21 | CHOLAFIN
3%₹97 Cr1,114,400
Persistent Systems Ltd (Technology)
Equity, Since 31 Jul 21 | PERSISTENT
3%₹96 Cr203,300
↓ -16,800

4. HDFC Long Term Advantage Fund

To generate long term capital appreciation from a portfolio that is predominantly in equity and equity related instruments

HDFC Long Term Advantage Fund is a Equity - ELSS fund was launched on 2 Jan 01. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 21.4% since its launch.  Ranked 23 in ELSS category. .

Below is the key information for HDFC Long Term Advantage Fund

HDFC Long Term Advantage Fund
Growth
Launch Date 2 Jan 01
NAV (14 Jan 22) ₹595.168 ↑ 0.28   (0.05 %)
Net Assets (Cr) ₹1,318 on 30 Nov 21
Category Equity - ELSS
AMC HDFC Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.25
Sharpe Ratio 2.27
Information Ratio -0.15
Alpha Ratio 1.75
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Apr 18₹10,000
30 Apr 19₹10,554
30 Apr 20₹8,566
30 Apr 21₹13,241

HDFC Long Term Advantage Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹470,047.
Net Profit of ₹170,047
Invest Now

Purchase not allowed

Returns for HDFC Long Term Advantage Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 26 May 23

DurationReturns
1 Month 4.4%
3 Month 1.2%
6 Month 15.4%
1 Year 35.5%
3 Year 20.6%
5 Year 17.4%
10 Year
15 Year
Since launch 21.4%
Historical performance (Yearly) on absolute basis
YearReturns
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
Fund Manager information for HDFC Long Term Advantage Fund
NameSinceTenure

Data below for HDFC Long Term Advantage Fund as on 30 Nov 21

Equity Sector Allocation
SectorValue
Asset Allocation
Asset ClassValue
Top Securities Holdings / Portfolio
NameHoldingValueQuantity

5. Kotak Tax Saver Fund

The investment objective of the scheme is to generate longterm capital appreciation from a diversified portfolio of equity and equity related securities and enable investors to avail the income tax rebate, as permitted from time to time.

Kotak Tax Saver Fund is a Equity - ELSS fund was launched on 23 Nov 05. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 12.5% since its launch.  Ranked 19 in ELSS category.  Return for 2022 was 6.9% , 2021 was 33.2% and 2020 was 14.9% .

Below is the key information for Kotak Tax Saver Fund

Kotak Tax Saver Fund
Growth
Launch Date 23 Nov 05
NAV (26 May 23) ₹78.651 ↑ 0.76   (0.98 %)
Net Assets (Cr) ₹3,560 on 30 Apr 23
Category Equity - ELSS
AMC Kotak Mahindra Asset Management Co Ltd
Rating
Risk Moderately High
Expense Ratio 1.97
Sharpe Ratio 0.23
Information Ratio 0.07
Alpha Ratio 3.9
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Apr 18₹10,000
30 Apr 19₹10,653
30 Apr 20₹9,323
30 Apr 21₹14,237
30 Apr 22₹16,951
30 Apr 23₹18,400

Kotak Tax Saver Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹436,710.
Net Profit of ₹136,710
Invest Now

Returns for Kotak Tax Saver Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 26 May 23

DurationReturns
1 Month 3.8%
3 Month 6.3%
6 Month 2%
1 Year 18.9%
3 Year 29.5%
5 Year 14.2%
10 Year
15 Year
Since launch 12.5%
Historical performance (Yearly) on absolute basis
YearReturns
2022 6.9%
2021 33.2%
2020 14.9%
2019 12.7%
2018 -3.8%
2017 33.8%
2016 7.5%
2015 1.5%
2014 56.6%
2013 -6.3%
Fund Manager information for Kotak Tax Saver Fund
NameSinceTenure
Harsha Upadhyaya25 Aug 157.69 Yr.

Data below for Kotak Tax Saver Fund as on 30 Apr 23

Equity Sector Allocation
SectorValue
Financial Services27.21%
Industrials17.44%
Basic Materials14.2%
Consumer Cyclical12.68%
Consumer Defensive10.35%
Technology4.82%
Health Care3.65%
Energy3.4%
Utility1.92%
Communication Services1.65%
Asset Allocation
Asset ClassValue
Cash2.69%
Equity97.31%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK
7%₹239 Cr2,600,000
State Bank of India (Financial Services)
Equity, Since 28 Feb 21 | SBIN
5%₹173 Cr3,000,000
ITC Ltd Shs Dematerialised (Consumer Defensive)
Equity, Since 31 Oct 21 | ITC
4%₹157 Cr3,700,000
Axis Bank Ltd (Financial Services)
Equity, Since 31 Mar 13 | AXISBANK
4%₹155 Cr1,800,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFCBANK
4%₹152 Cr900,000
↑ 200,000
Larsen & Toubro Ltd (Industrials)
Equity, Since 28 Feb 14 | LT
4%₹142 Cr600,000
Maruti Suzuki India Ltd (Consumer Cyclical)
Equity, Since 31 Mar 21 | MARUTI
4%₹142 Cr165,000
Reliance Industries Ltd (Energy)
Equity, Since 30 Jun 06 | RELIANCE
3%₹121 Cr500,000
Infosys Ltd (Technology)
Equity, Since 31 Dec 05 | INFY
3%₹100 Cr800,000
SRF Ltd Shs Dematerialised (Basic Materials)
Equity, Since 30 Apr 16 | SRF
3%₹91 Cr360,000

6. Sundaram Diversified Equity Fund

To achieve capital appreciation by investing predominantly in equities and equity-related instruments. A three-year lock-in period shall apply in line with the regulation for ELSS schemes.

Sundaram Diversified Equity Fund is a Equity - ELSS fund was launched on 22 Nov 99. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 15.8% since its launch.  Ranked 14 in ELSS category.  Return for 2022 was 4% , 2021 was 31.5% and 2020 was 9.9% .

Below is the key information for Sundaram Diversified Equity Fund

Sundaram Diversified Equity Fund
Growth
Launch Date 22 Nov 99
NAV (26 May 23) ₹158.615 ↑ 1.38   (0.88 %)
Net Assets (Cr) ₹1,622 on 30 Apr 23
Category Equity - ELSS
AMC Sundaram Asset Management Company Ltd
Rating
Risk Moderately High
Expense Ratio 2.1
Sharpe Ratio 0.09
Information Ratio -0.24
Alpha Ratio 1.87
Min Investment 500
Min SIP Investment 250
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Apr 18₹10,000
30 Apr 19₹9,501
30 Apr 20₹7,469
30 Apr 21₹11,282
30 Apr 22₹13,518
30 Apr 23₹14,380

Sundaram Diversified Equity Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹385,859.
Net Profit of ₹85,859
Invest Now

Returns for Sundaram Diversified Equity Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 26 May 23

DurationReturns
1 Month 4.5%
3 Month 5.8%
6 Month 0.6%
1 Year 16.4%
3 Year 28.6%
5 Year 9.1%
10 Year
15 Year
Since launch 15.8%
Historical performance (Yearly) on absolute basis
YearReturns
2022 4%
2021 31.5%
2020 9.9%
2019 6.2%
2018 -10.6%
2017 38.4%
2016 6.8%
2015 3.1%
2014 45.7%
2013 1.4%
Fund Manager information for Sundaram Diversified Equity Fund
NameSinceTenure
Sudhir Kedia1 Jan 221.33 Yr.
Rohit Seksaria24 Feb 212.18 Yr.

Data below for Sundaram Diversified Equity Fund as on 30 Apr 23

Equity Sector Allocation
SectorValue
Financial Services37.08%
Industrials12.77%
Technology11.26%
Consumer Cyclical11.01%
Consumer Defensive7.76%
Energy6.67%
Basic Materials5.07%
Health Care2.8%
Communication Services1.81%
Real Estate0.57%
Asset Allocation
Asset ClassValue
Cash3.19%
Equity96.81%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 30 Nov 11 | ICICIBANK
8%₹124 Cr1,348,000
Reliance Industries Ltd (Energy)
Equity, Since 30 Apr 12 | RELIANCE
7%₹108 Cr447,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Mar 13 | HDFCBANK
6%₹103 Cr611,000
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Jul 19 | HDFC
5%₹75 Cr272,000
Infosys Ltd (Technology)
Equity, Since 30 Nov 16 | INFY
4%₹71 Cr570,000
State Bank of India (Financial Services)
Equity, Since 31 Aug 20 | SBIN
4%₹70 Cr1,207,000
Tata Consultancy Services Ltd Shs Dematerialised (Technology)
Equity, Since 31 Jul 20 | TCS
3%₹53 Cr165,000
Axis Bank Ltd (Financial Services)
Equity, Since 31 May 18 | 532215
3%₹51 Cr590,000
Ashok Leyland Ltd Shs Dematerialised (Industrials)
Equity, Since 31 Jan 22 | 500477
3%₹46 Cr3,184,000
Larsen & Toubro Ltd (Industrials)
Equity, Since 31 May 18 | LT
2%₹38 Cr160,000
↓ -30,000

Tax Savings in Equity Linked Saving Scheme

Let's check the tax benefits by comparing tax savings with and without ELSS:

Particulars Tax Planning (ELSS) No Tax Planning
Gross Total Income 8,00,000 8,00,000
Exemption from Taxation 1,50,000 Nil
Total Taxable Income 6,50,000 8,00,000
Tax to be Paid 32,500 62,500
Saved Amount 30,000 Nil

Hence, total amount saved by investing in ELSS is INR 30,000.

Benefits of Investing in Tax Saving Mutual Funds

Along with tax benefits, ELSS also offers you the following advantages:

Equity Returns

As ELSS is a combination of equity and tax saving, the money you invest grows as the stock market grows. So, investors can also earn returns from the equity market. Hence, ELSS is also an avenue for a long-term wealth creation.

SIP Benefits

Instead of investing a lump sum amount, investors can choose an easy path by investing monthly via a SIP. With a SIP, one can invest as low as INR 500, making it the most affordable tax-planning and investment avenue for the investors.

Shortest Lock-in Period

ELSS has lock-in period of 3 years, which is the shortest lock-in period among all other tax-saving instruments.

How to Invest in ELSS Funds Online?

  1. Open Free Investment Account for Lifetime at Fincash.com.

  2. Complete your Registration and KYC Process

  3. Upload Documents (PAN, Aadhaar, etc.). And, You are Ready to Invest!

    Get Started

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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