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Best Tax Saving Mutual Funds Plans FY 20 - 21

Updated on July 30, 2020 , 636 views

Best tax saving Mutual Funds (ELSS) are funds that help people save a lot of money on taxes along with earning capital appreciation on their investments.

Tax Saving ELSS funds allow tax exemptions up to INR 1,50,000 under Section 80C of the Income Tax Act. Therefore, by Investing in these tax saving Mutual Funds, even the investors in the highest tax bracket of 30% can avail tax exemptions of around INR 46,000 for a particular financial year along with earning good returns.

Tax-Savings

As tax saving Mutual Funds (or ELSS as it is commonly called) are market-linked investments, investors are suggested to carry out investments in these funds wisely so as to avert long-term losses and risks.

Benefits of Best Tax Saving Mutual Funds ELSS FY 20 - 21

Saving Under section 80C IT Act 1961

  • ELSS Mutual Funds provide tax exemptions up to INR 1,50,000.
  • The ELSS returns are much higher than the returns offered by other Tax Saving Investment options.
  • Tax saving Mutual Funds or ELSS have the shortest lock-in period of 3 years, which is comparatively much less than other tax saving investments.
  • The ELSS funds offer an option to invest via SIP, so the investors can easily manage their ELSS investment by investing small amounts monthly.

All the above-mentioned factors make ELSS one of the best tax saving Mutual Funds.

As the tax season approaches, people start making investments to save tax. Time and again it is said by financial advisors and fund houses that a SIP is one of the best ways to invest in tax saving Mutual Funds (ELSS) as it keeps your investment disciplined and balanced. However, as per reports, still barely 15% of the total investments in ELSS funds takes place through SIP and the remaining 85% is via lump sum. So, the investors are advised to invest in tax saving Mutual Funds (ELSS) via a SIP (Systematic Investment plan) as the fiscal year begins. Don’t wait, invest now!

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Top 4 Best performing Tax Saving ELSS Mutual Funds

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2019 (%)Since launch (%)
ICICI Prudential Long Term Equity Fund (Tax Saving) Growth ₹349.71
↑ 1.66
₹5,97011.1-10.7-3.924.88.818.5
Canara Robeco Equity Tax Saver Growth ₹68.29
↑ 0.20
₹99211.6-29.36.77.210.718.2
BOI AXA Tax Advantage Fund Growth ₹55.84
↑ 0.47
₹2629.7-2.916.857.214.616.2
Axis Long Term Equity Fund Growth ₹44.791
↑ 0.15
₹20,2924.9-10.92.15.17.314.815.2
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 31 Jul 20
*Above is the list of Best elss Mutual Funds having Net Assets above 100 Crore sorted on annualized returns since launch / inception.

1. ICICI Prudential Long Term Equity Fund (Tax Saving)

To generate long-term capital appreciation through investments made primarily in equity and equity related securities of companies.

ICICI Prudential Long Term Equity Fund (Tax Saving) is a Equity - ELSS fund was launched on 19 Aug 99. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 18.5% since its launch.  Ranked 30 in ELSS category.  Return for 2019 was 8.8% , 2018 was 0.5% and 2017 was 26% .

Below is the key information for ICICI Prudential Long Term Equity Fund (Tax Saving)

ICICI Prudential Long Term Equity Fund (Tax Saving)
Growth
Launch Date 19 Aug 99
NAV (31 Jul 20) ₹349.71 ↑ 1.66   (0.48 %)
Net Assets (Cr) ₹5,970 on 30 Jun 20
Category Equity - ELSS
AMC ICICI Prudential Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.17
Sharpe Ratio -0.37
Information Ratio -0.09
Alpha Ratio -3.07
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Jul 15₹10,000
31 Jul 16₹10,647
31 Jul 17₹11,913
31 Jul 18₹13,429
31 Jul 19₹13,139
31 Jul 20₹12,626

ICICI Prudential Long Term Equity Fund (Tax Saving) SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹340,450.
Net Profit of ₹40,450
Invest Now

Returns for ICICI Prudential Long Term Equity Fund (Tax Saving)

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 31 Jul 20

DurationReturns
1 Month 4.8%
3 Month 11.1%
6 Month -10.7%
1 Year -3.9%
3 Year 2%
5 Year 4.8%
Since launch 18.5%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2019 8.8%
2018 0.5%
2017 26%
2016 3.9%
2015 4.3%
2014 50.8%
2013 10.2%
2012 37.6%
2011 -24%
2010 24.1%
Fund Manager information for ICICI Prudential Long Term Equity Fund (Tax Saving)
NameSinceTenure
Priyanka Khandelwal15 Jun 173.05 Yr.
Harish Bihani5 Nov 181.65 Yr.

Data below for ICICI Prudential Long Term Equity Fund (Tax Saving) as on 30 Jun 20

Equity Sector Allocation
SectorValue
Financial Services25.18%
Communication Services9.92%
Technology9.27%
Utility9.05%
Consumer Defensive8.92%
Health Care8.13%
Basic Materials7.66%
Energy6.62%
Industrials6.16%
Consumer Cyclical2.77%
Real Estate0.34%
Asset Allocation
Asset ClassValue
Cash5.9%
Equity94.1%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 17 | BHARTIARTL
8%₹488 Cr8,708,269
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 17 | HDFCBANK
7%₹414 Cr3,881,634
Treps
CBLO/Reverse Repo | -
7%₹390 Cr
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | ICICIBANK
6%₹362 Cr10,295,682
↑ 100,000
NTPC Ltd (Utilities)
Equity, Since 31 Jul 17 | 532555
5%₹328 Cr34,241,385
Infosys Ltd (Technology)
Equity, Since 30 Jun 16 | INFY
4%₹245 Cr3,335,125
ITC Ltd (Consumer Defensive)
Equity, Since 31 Jul 17 | ITC
4%₹231 Cr11,843,911
↓ -1,156,799
Hindalco Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | HINDALCO
4%₹213 Cr14,585,604
SBI Life Insurance Co Ltd (Financial Services)
Equity, Since 30 Sep 17 | 540719
2%₹145 Cr1,801,010
Oil & Natural Gas Corp Ltd (Energy)
Equity, Since 30 Nov 18 | 500312
2%₹141 Cr17,287,796
↓ -1,768,082

2. Canara Robeco Equity Tax Saver

(ELSS Scheme) Seeking to provide long term capital appreciation by predominantly investing in equities and to facilitate the subscribers to seek tax benefits as provided under Section 80 C of the Income Tax Act, 1961. However, there can be no assurance that the investment objective of the scheme will be realized.

Canara Robeco Equity Tax Saver is a Equity - ELSS fund was launched on 2 Feb 09. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 18.2% since its launch.  Ranked 36 in ELSS category.  Return for 2019 was 10.7% , 2018 was 2.7% and 2017 was 32% .

Below is the key information for Canara Robeco Equity Tax Saver

Canara Robeco Equity Tax Saver
Growth
Launch Date 2 Feb 09
NAV (31 Jul 20) ₹68.29 ↑ 0.20   (0.29 %)
Net Assets (Cr) ₹992 on 30 Jun 20
Category Equity - ELSS
AMC Canara Robeco Asset Management Co. Ltd.
Rating
Risk Moderately High
Expense Ratio 2.32
Sharpe Ratio -0.17
Information Ratio 0.35
Alpha Ratio 3.78
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Jul 15₹10,000
31 Jul 16₹9,911
31 Jul 17₹11,636
31 Jul 18₹13,104
31 Jul 19₹12,936
31 Jul 20₹14,142

Canara Robeco Equity Tax Saver SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹367,070.
Net Profit of ₹67,070
Invest Now

Returns for Canara Robeco Equity Tax Saver

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 31 Jul 20

DurationReturns
1 Month 8.4%
3 Month 11.6%
6 Month -2%
1 Year 9.3%
3 Year 6.7%
5 Year 7.2%
Since launch 18.2%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2019 10.7%
2018 2.7%
2017 32%
2016 0%
2015 0.6%
2014 45.2%
2013 5.3%
2012 30%
2011 -16.3%
2010 24.9%
Fund Manager information for Canara Robeco Equity Tax Saver
NameSinceTenure
Shridatta Bhandwaldar1 Oct 190.75 Yr.
Cheenu Gupta12 Mar 182.31 Yr.

Data below for Canara Robeco Equity Tax Saver as on 30 Jun 20

Equity Sector Allocation
SectorValue
Financial Services29.17%
Health Care13.62%
Basic Materials11.63%
Technology11.09%
Consumer Defensive8.89%
Consumer Cyclical7.86%
Energy5.68%
Industrials5.18%
Communication Services4.07%
Asset Allocation
Asset ClassValue
Cash2.77%
Equity97.23%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Infosys Ltd (Technology)
Equity, Since 31 Jul 18 | INFY
8%₹80 Cr1,089,500
↑ 50,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK
6%₹63 Cr588,184
↑ 100,000
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 19 | RELIANCE
6%₹56 Cr330,500
Hindustan Unilever Ltd (Consumer Defensive)
Equity, Since 31 Oct 16 | 500696
5%₹51 Cr235,330
Divi's Laboratories Ltd (Healthcare)
Equity, Since 31 Dec 18 | DIVISLAB
5%₹45 Cr196,500
↓ -10,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK
4%₹41 Cr1,176,000
↓ -435,000
Bharti Airtel Ltd (Communication Services)
Equity, Since 29 Feb 20 | BHARTIARTL
4%₹40 Cr722,000
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 May 20 | KOTAKBANK
3%₹34 Cr250,000
↑ 135,000
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 19 | 500034
3%₹34 Cr119,150
↑ 35,000
HDFC Asset Management Company Limited (Financial Services)
Equity, Since 30 Sep 19 | 541729
3%₹27 Cr110,000
↑ 51,000

3. BOI AXA Tax Advantage Fund

The Scheme seeks to generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities across all market capitalisations. The Scheme is in the nature of diversified multi-cap fund. The Scheme is not providing any assured or guaranteed returns.(There can be no assurance that the investment objectives of the Scheme will be realized.)

BOI AXA Tax Advantage Fund is a Equity - ELSS fund was launched on 25 Feb 09. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 16.2% since its launch.  Ranked 13 in ELSS category.  Return for 2019 was 14.6% , 2018 was -16.3% and 2017 was 57.7% .

Below is the key information for BOI AXA Tax Advantage Fund

BOI AXA Tax Advantage Fund
Growth
Launch Date 25 Feb 09
NAV (31 Jul 20) ₹55.84 ↑ 0.47   (0.85 %)
Net Assets (Cr) ₹262 on 30 Jun 20
Category Equity - ELSS
AMC BOI AXA Investment Mngrs Private Ltd
Rating
Risk Moderately High
Expense Ratio 3.02
Sharpe Ratio 0.07
Information Ratio 0.27
Alpha Ratio 9.94
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Jul 15₹10,000
31 Jul 16₹10,149
31 Jul 17₹12,205
31 Jul 18₹14,186
31 Jul 19₹12,101
31 Jul 20₹14,133

BOI AXA 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 ₹367,070.
Net Profit of ₹67,070
Invest Now

Returns for BOI AXA 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 31 Jul 20

DurationReturns
1 Month 8.3%
3 Month 9.7%
6 Month -2.9%
1 Year 16.8%
3 Year 5%
5 Year 7.2%
Since launch 16.2%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2019 14.6%
2018 -16.3%
2017 57.7%
2016 -1.2%
2015 2.1%
2014 44%
2013 9.1%
2012 24.8%
2011 -24.1%
2010 5.9%
Fund Manager information for BOI AXA Tax Advantage Fund
NameSinceTenure
Aakash Manghani15 Jul 190.96 Yr.

Data below for BOI AXA Tax Advantage Fund as on 30 Jun 20

Equity Sector Allocation
SectorValue
Financial Services28.86%
Basic Materials16.82%
Health Care14.43%
Consumer Defensive7.3%
Consumer Cyclical6.54%
Energy5.7%
Technology5.64%
Industrials5.39%
Communication Services4.79%
Utility0.49%
Asset Allocation
Asset ClassValue
Cash3.76%
Equity96.24%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK
6%₹17 Cr158,288
↑ 8,721
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE
6%₹15 Cr87,510
↑ 9,430
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Dec 19 | BHARTIARTL
4%₹11 Cr197,163
↑ 4,409
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 30 Sep 18 | KOTAKBANK
4%₹10 Cr74,728
↑ 4,912
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK
4%₹10 Cr281,959
↑ 68,179
PI Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | PIIND
4%₹10 Cr63,294
Cblo
CBLO | -
3%₹9 Cr
Muthoot Finance Ltd (Financial Services)
Equity, Since 29 Feb 20 | 533398
3%₹8 Cr73,302
↑ 5,687
Abbott India Ltd (Healthcare)
Equity, Since 31 Aug 18 | 500488
3%₹8 Cr4,910
↓ -1,646
Divi's Laboratories Ltd (Healthcare)
Equity, Since 30 Sep 18 | DIVISLAB
3%₹8 Cr33,806
↓ -5,427

4. Axis Long Term Equity Fund

To generate income and long-term capital appreciation from a diversified portfolio of predominantly equity and equity-related securities. However, there can be no assurance that the investment objective of the Scheme will be achieved.

Axis Long Term Equity Fund is a Equity - ELSS fund was launched on 29 Dec 09. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 15.2% since its launch.  Ranked 20 in ELSS category.  Return for 2019 was 14.8% , 2018 was 2.7% and 2017 was 37.4% .

Below is the key information for Axis Long Term Equity Fund

Axis Long Term Equity Fund
Growth
Launch Date 29 Dec 09
NAV (31 Jul 20) ₹44.791 ↑ 0.15   (0.34 %)
Net Assets (Cr) ₹20,292 on 30 Jun 20
Category Equity - ELSS
AMC Axis Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 3.05
Sharpe Ratio -0.16
Information Ratio 0.43
Alpha Ratio 2.84
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Jul 15₹10,000
31 Jul 16₹10,593
31 Jul 17₹12,279
31 Jul 18₹14,391
31 Jul 19₹13,954
31 Jul 20₹14,240

Axis Long Term 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 ₹367,070.
Net Profit of ₹67,070
Invest Now

Returns for Axis Long Term 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 31 Jul 20

DurationReturns
1 Month 3.3%
3 Month 4.9%
6 Month -10.9%
1 Year 2.1%
3 Year 5.1%
5 Year 7.3%
Since launch 15.2%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2019 14.8%
2018 2.7%
2017 37.4%
2016 -0.7%
2015 6.7%
2014 66.2%
2013 16.5%
2012 33.7%
2011 -14.8%
2010 30%
Fund Manager information for Axis Long Term Equity Fund
NameSinceTenure
Jinesh Gopani1 Apr 119.26 Yr.

Data below for Axis Long Term Equity Fund as on 30 Jun 20

Equity Sector Allocation
SectorValue
Financial Services32.13%
Consumer Cyclical14.38%
Consumer Defensive13.92%
Communication Services8.09%
Technology6.91%
Basic Materials5.93%
Health Care5.79%
Utility4.22%
Industrials2.08%
Asset Allocation
Asset ClassValue
Cash6.42%
Equity93.45%
Debt0.13%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Avenue Supermarts Ltd (Consumer Defensive)
Equity, Since 30 Apr 17 | 540376
7%₹1,503 Cr6,487,052
↓ -207,960
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFCBANK
7%₹1,499 Cr14,063,723
↑ 500,000
Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Sep 16 | 500034
7%₹1,398 Cr4,938,073
↓ -52,087
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 May 11 | KOTAKBANK
7%₹1,396 Cr10,257,636
↓ -417,879
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 17 | TCS
6%₹1,305 Cr6,266,874
↓ -1,973,813
Clearing Corporation Of India Ltd
CBLO | -
6%₹1,300 Cr
Nestle India Ltd (Consumer Defensive)
Equity, Since 31 Aug 14 | NESTLEIND
6%₹1,169 Cr680,805
↓ -31,417
Maruti Suzuki India Ltd (Consumer Cyclical)
Equity, Since 30 Nov 10 | MARUTI
6%₹1,143 Cr1,958,004
↑ 3,817
Info Edge (India) Ltd (Communication Services)
Equity, Since 31 May 14 | NAUKRI
5%₹1,078 Cr3,901,414
↓ -496,977
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFC
4%₹907 Cr5,170,605
↓ -883,426

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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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