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6 Best Performing Tax Saving Mutual Funds 2022 | Fincash.com

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6 Best Performing Tax Saving Mutual Funds 2022

Updated on September 28, 2022 , 2072 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 (%)2021 (%)
IDFC Tax Advantage (ELSS) Fund Growth ₹97.612
↑ 1.42
₹3,85111.5-0.43.422.41349.2
Tata India Tax Savings Fund Growth ₹28.2443
↑ 0.45
₹3,11911.20.21.915.611.230.4
L&T Tax Advantage Fund Growth ₹77.979
↑ 1.08
₹3,25413.2-1.6-1.514.18.330.3
HDFC Long Term Advantage Fund Growth ₹595.168
↑ 0.28
₹1,3181.215.435.520.617.4
Kotak Tax Saver Fund Growth ₹72.801
↑ 1.18
₹2,93611.80.73.318.212.933.2
Sundaram Diversified Equity Fund Growth ₹150.051
↑ 2.38
₹1,85611.42.32.214.98.831.5
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 30 Sep 22
*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 18% since its launch.  Ranked 3 in ELSS category.  Return for 2021 was 49.2% , 2020 was 18.7% and 2019 was 1.9% .

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

IDFC Tax Advantage (ELSS) Fund
Growth
Launch Date 26 Dec 08
NAV (30 Sep 22) ₹97.612 ↑ 1.42   (1.47 %)
Net Assets (Cr) ₹3,851 on 31 Aug 22
Category Equity - ELSS
AMC IDFC Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 1.95
Sharpe Ratio 0.4
Information Ratio 0.55
Alpha Ratio 2.67
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Sep 17₹10,000
30 Sep 18₹10,161
30 Sep 19₹10,044
30 Sep 20₹10,138
30 Sep 21₹17,831

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 ₹426,080.
Net Profit of ₹126,080
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 30 Sep 22

DurationReturns
1 Month -1.5%
3 Month 11.5%
6 Month -0.4%
1 Year 3.4%
3 Year 22.4%
5 Year 13%
10 Year
15 Year
Since launch 18%
Historical performance (Yearly) on absolute basis
YearReturns
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%
2012 36.2%
Fund Manager information for IDFC Tax Advantage (ELSS) Fund
NameSinceTenure
Daylynn Pinto20 Oct 165.87 Yr.

Data below for IDFC Tax Advantage (ELSS) Fund as on 31 Aug 22

Equity Sector Allocation
SectorValue
Financial Services27.54%
Consumer Cyclical17.61%
Industrials12.1%
Basic Materials10.14%
Technology9.49%
Health Care7.23%
Energy3.77%
Consumer Defensive3.26%
Communication Services2.64%
Asset Allocation
Asset ClassValue
Cash6.23%
Equity93.77%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 May 16 | ICICIBANK
9%₹337 Cr3,800,000
Infosys Ltd (Technology)
Equity, Since 31 Jul 15 | INFY
5%₹209 Cr1,400,000
State Bank of India (Financial Services)
Equity, Since 30 Jun 20 | SBIN
5%₹186 Cr3,500,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Sep 14 | HDFCBANK
4%₹156 Cr1,050,000
Reliance Industries Ltd (Energy)
Equity, Since 31 Jul 18 | RELIANCE
4%₹145 Cr550,000
Tata Motors Ltd (Consumer Cyclical)
Equity, Since 31 May 20 | TATAMOTORS
3%₹122 Cr2,600,000
↓ -100,000
Mahindra & Mahindra Ltd (Consumer Cyclical)
Equity, Since 31 Jul 20 | M&M
3%₹118 Cr900,000
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Jan 20 | BHARTIARTL
3%₹102 Cr1,400,000
Axis Bank Ltd (Financial Services)
Equity, Since 30 Apr 21 | 532215
3%₹101 Cr1,350,000
VRL Logistics Ltd (Industrials)
Equity, Since 30 Nov 15 | VRLLOG
2%₹92 Cr1,475,000

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 13.9% since its launch.  Ranked 1 in ELSS category.  Return for 2021 was 30.4% , 2020 was 11.9% and 2019 was 13.6% .

Below is the key information for Tata India Tax Savings Fund

Tata India Tax Savings Fund
Growth
Launch Date 13 Oct 14
NAV (30 Sep 22) ₹28.2443 ↑ 0.45   (1.64 %)
Net Assets (Cr) ₹3,119 on 31 Aug 22
Category Equity - ELSS
AMC Tata Asset Management Limited
Rating
Risk Moderately High
Expense Ratio 1.8
Sharpe Ratio 0.31
Information Ratio -0.72
Alpha Ratio 1.29
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Sep 17₹10,000
30 Sep 18₹9,812
30 Sep 19₹10,998
30 Sep 20₹10,671
30 Sep 21₹16,679

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 30 Sep 22

DurationReturns
1 Month -2.6%
3 Month 11.2%
6 Month 0.2%
1 Year 1.9%
3 Year 15.6%
5 Year 11.2%
10 Year
15 Year
Since launch 13.9%
Historical performance (Yearly) on absolute basis
YearReturns
2021 30.4%
2020 11.9%
2019 13.6%
2018 -8.4%
2017 46%
2016 2.1%
2015 13.3%
2014
2013
2012
Fund Manager information for Tata India Tax Savings Fund
NameSinceTenure
Tejas Gutka9 Mar 211.48 Yr.

Data below for Tata India Tax Savings Fund as on 31 Aug 22

Equity Sector Allocation
SectorValue
Financial Services38.35%
Industrials17.73%
Technology8.74%
Consumer Cyclical7.45%
Energy5.71%
Health Care5.51%
Basic Materials5.45%
Communication Services4.67%
Utility2.3%
Real Estate1.54%
Consumer Defensive1.17%
Asset Allocation
Asset ClassValue
Cash1.37%
Equity98.63%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 30 Nov 16 | ICICIBANK
8%₹248 Cr2,800,000
HDFC Bank Ltd (Financial Services)
Equity, Since 28 Feb 10 | HDFCBANK
6%₹194 Cr1,305,000
State Bank of India (Financial Services)
Equity, Since 30 Nov 18 | SBIN
6%₹183 Cr3,450,000
Reliance Industries Ltd (Energy)
Equity, Since 31 Jan 18 | RELIANCE
6%₹178 Cr675,000
Infosys Ltd (Technology)
Equity, Since 30 Sep 18 | INFY
6%₹173 Cr1,160,000
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 30 Jun 17 | HDFC
5%₹141 Cr575,000
Axis Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | 532215
4%₹110 Cr1,465,000
Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Sep 19 | BHARTIARTL
3%₹93 Cr1,275,000
Larsen & Toubro Ltd (Industrials)
Equity, Since 30 Nov 16 | LT
2%₹75 Cr390,000
SBI Life Insurance Company Limited (Financial Services)
Equity, Since 30 Apr 21 | 540719
2%₹70 Cr525,000

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 2021 was 30.3% , 2020 was 13.5% and 2019 was 4.6% .

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

L&T Tax Advantage Fund
Growth
Launch Date 27 Feb 06
NAV (30 Sep 22) ₹77.979 ↑ 1.08   (1.41 %)
Net Assets (Cr) ₹3,254 on 31 Aug 22
Category Equity - ELSS
AMC L&T Investment Management Ltd
Rating
Risk Moderately High
Expense Ratio 1.97
Sharpe Ratio -0.13
Information Ratio -1.08
Alpha Ratio -6.08
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Sep 17₹10,000
30 Sep 18₹10,102
30 Sep 19₹9,997
30 Sep 20₹10,053
30 Sep 21₹15,096

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 30 Sep 22

DurationReturns
1 Month -1.5%
3 Month 13.2%
6 Month -1.6%
1 Year -1.5%
3 Year 14.1%
5 Year 8.3%
10 Year
15 Year
Since launch 13.2%
Historical performance (Yearly) on absolute basis
YearReturns
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%
2012 27.4%
Fund Manager information for L&T Tax Advantage Fund
NameSinceTenure
Vihang Naik17 Dec 192.71 Yr.
Cheenu Gupta2 Jul 211.17 Yr.

Data below for L&T Tax Advantage Fund as on 31 Aug 22

Equity Sector Allocation
SectorValue
Financial Services30.06%
Consumer Cyclical22.62%
Technology11.98%
Industrials10.26%
Basic Materials7.35%
Consumer Defensive6.71%
Energy3.85%
Health Care2.86%
Utility1.71%
Real Estate1.61%
Asset Allocation
Asset ClassValue
Cash0.99%
Equity99.01%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 30 Jun 09 | ICICIBANK
10%₹317 Cr3,572,500
Infosys Ltd (Technology)
Equity, Since 31 Mar 06 | INFY
6%₹194 Cr1,297,500
↓ -50,700
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Mar 06 | HDFCBANK
6%₹186 Cr1,249,400
State Bank of India (Financial Services)
Equity, Since 31 Jan 19 | SBIN
5%₹160 Cr3,005,300
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 21 | RELIANCE
4%₹125 Cr475,100
↓ -43,200
Indian Hotels Co Ltd (Consumer Cyclical)
Equity, Since 31 Oct 21 | 500850
4%₹121 Cr4,240,500
↓ -300,077
Hindustan Unilever Ltd (Consumer Defensive)
Equity, Since 31 Jul 22 | 500696
3%₹112 Cr419,300
Maruti Suzuki India Ltd (Consumer Cyclical)
Equity, Since 30 Jun 22 | MARUTI
3%₹108 Cr118,900
Persistent Systems Ltd (Technology)
Equity, Since 31 Jul 21 | PERSISTENT
3%₹97 Cr276,400
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 Jul 21 | 500034
3%₹97 Cr132,900

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 Sep 17₹10,000
30 Sep 18₹10,744
30 Sep 19₹11,412
30 Sep 20₹10,757
30 Sep 21₹17,891

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 30 Sep 22

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
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
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 2021 was 33.2% , 2020 was 14.9% and 2019 was 12.7% .

Below is the key information for Kotak Tax Saver Fund

Kotak Tax Saver Fund
Growth
Launch Date 23 Nov 05
NAV (30 Sep 22) ₹72.801 ↑ 1.18   (1.65 %)
Net Assets (Cr) ₹2,936 on 31 Aug 22
Category Equity - ELSS
AMC Kotak Mahindra Asset Management Co Ltd
Rating
Risk Moderately High
Expense Ratio 2.15
Sharpe Ratio 0.26
Information Ratio 0.01
Alpha Ratio 0.57
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Sep 17₹10,000
30 Sep 18₹10,237
30 Sep 19₹11,119
30 Sep 20₹11,371
30 Sep 21₹17,778

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 ₹415,684.
Net Profit of ₹115,684
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 30 Sep 22

DurationReturns
1 Month -1.9%
3 Month 11.8%
6 Month 0.7%
1 Year 3.3%
3 Year 18.2%
5 Year 12.9%
10 Year
15 Year
Since launch 12.5%
Historical performance (Yearly) on absolute basis
YearReturns
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%
2012 36.2%
Fund Manager information for Kotak Tax Saver Fund
NameSinceTenure
Harsha Upadhyaya25 Aug 157.02 Yr.

Data below for Kotak Tax Saver Fund as on 31 Aug 22

Equity Sector Allocation
SectorValue
Financial Services26.95%
Industrials18.38%
Basic Materials16.03%
Consumer Cyclical11.21%
Technology7.33%
Consumer Defensive6.27%
Energy4.49%
Health Care4.02%
Communication Services1.75%
Utility0.89%
Asset Allocation
Asset ClassValue
Cash2.68%
Equity97.32%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK
8%₹240 Cr2,700,000
State Bank of India (Financial Services)
Equity, Since 28 Feb 21 | SBIN
5%₹159 Cr3,000,000
Reliance Industries Ltd (Energy)
Equity, Since 30 Jun 06 | RELIANCE
4%₹132 Cr500,000
Infosys Ltd (Technology)
Equity, Since 31 Dec 05 | INFY
4%₹119 Cr800,000
Larsen & Toubro Ltd (Industrials)
Equity, Since 28 Feb 14 | LT
4%₹111 Cr575,000
ITC Ltd (Consumer Defensive)
Equity, Since 31 Oct 21 | ITC
3%₹99 Cr3,100,000
Axis Bank Ltd (Financial Services)
Equity, Since 31 Mar 13 | 532215
3%₹98 Cr1,300,000
SRF Ltd (Basic Materials)
Equity, Since 30 Apr 16 | SRF
3%₹92 Cr360,000
↓ -10,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFCBANK
3%₹82 Cr550,000
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 18 | TCS
2%₹71 Cr221,398

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 16% since its launch.  Ranked 14 in ELSS category.  Return for 2021 was 31.5% , 2020 was 9.9% and 2019 was 6.2% .

Below is the key information for Sundaram Diversified Equity Fund

Sundaram Diversified Equity Fund
Growth
Launch Date 22 Nov 99
NAV (30 Sep 22) ₹150.051 ↑ 2.38   (1.61 %)
Net Assets (Cr) ₹1,856 on 31 Aug 22
Category Equity - ELSS
AMC Sundaram Asset Management Company Ltd
Rating
Risk Moderately High
Expense Ratio 2.14
Sharpe Ratio 0.25
Information Ratio -0.7
Alpha Ratio 0.35
Min Investment 500
Min SIP Investment 250
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Sep 17₹10,000
30 Sep 18₹9,725
30 Sep 19₹10,060
30 Sep 20₹9,476
30 Sep 21₹14,922

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 ₹376,357.
Net Profit of ₹76,357
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 30 Sep 22

DurationReturns
1 Month -2.8%
3 Month 11.4%
6 Month 2.3%
1 Year 2.2%
3 Year 14.9%
5 Year 8.8%
10 Year
15 Year
Since launch 16%
Historical performance (Yearly) on absolute basis
YearReturns
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%
2012 34.5%
Fund Manager information for Sundaram Diversified Equity Fund
NameSinceTenure
Sudhir Kedia1 Jan 220.67 Yr.
Rohit Seksaria24 Feb 211.52 Yr.

Data below for Sundaram Diversified Equity Fund as on 31 Aug 22

Equity Sector Allocation
SectorValue
Financial Services40.91%
Industrials14.95%
Consumer Cyclical11.37%
Technology10.41%
Consumer Defensive5.58%
Energy4.86%
Health Care4.33%
Basic Materials4.23%
Communication Services2.16%
Real Estate0.94%
Asset Allocation
Asset ClassValue
Cash0.26%
Equity99.74%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 30 Nov 11 | ICICIBANK
10%₹181 Cr2,040,000
↓ -42,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Mar 13 | HDFCBANK
6%₹109 Cr736,000
State Bank of India (Financial Services)
Equity, Since 31 Aug 20 | SBIN
5%₹91 Cr1,715,000
Reliance Industries Ltd (Energy)
Equity, Since 30 Apr 12 | RELIANCE
5%₹90 Cr341,595
Infosys Ltd (Technology)
Equity, Since 30 Nov 16 | INFY
5%₹88 Cr592,000
Axis Bank Ltd (Financial Services)
Equity, Since 31 May 18 | 532215
5%₹86 Cr1,145,000
↓ -25,000
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Jul 19 | HDFC
4%₹67 Cr272,000
Ashok Leyland Ltd (Industrials)
Equity, Since 31 Jan 22 | 500477
3%₹63 Cr4,089,762
Polycab India Ltd (Industrials)
Equity, Since 31 Jan 22 | 542652
3%₹57 Cr229,000
Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Jul 20 | TCS
3%₹53 Cr165,000

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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