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Best Tax Saving Mutual Funds Plans FY 21 - 22

Updated on September 22, 2021 , 3486 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 21 - 22

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 (%)2020 (%)Since launch (%)
Canara Robeco Equity Tax Saver Growth ₹116.85
↓ -0.42
₹2,6801325.869.12418.827.421.5
HDFC Long Term Advantage Fund Growth ₹561.864
↑ 0.20
₹1,3631225.772.918.315.811.521.5
ICICI Prudential Long Term Equity Fund (Tax Saving) Growth ₹602.79
↑ 0.75
₹9,82515.426.476.818.214.513.620.4
BOI AXA Tax Advantage Fund Growth ₹102.79
↓ -0.26
₹51216.532.977.227.22031.220.4
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 24 Sep 21
*Above is the list of Best elss Mutual Funds having Net Assets above 100 Crore sorted on annualized returns since launch / inception.

1. 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 21.5% since its launch.  Ranked 36 in ELSS category.  Return for 2020 was 27.4% , 2019 was 10.7% and 2018 was 2.7% .

Below is the key information for Canara Robeco Equity Tax Saver

Canara Robeco Equity Tax Saver
Growth
Launch Date 2 Feb 09
NAV (24 Sep 21) ₹116.85 ↓ -0.42   (-0.36 %)
Net Assets (Cr) ₹2,680 on 31 Aug 21
Category Equity - ELSS
AMC Canara Robeco Asset Management Co. Ltd.
Rating
Risk Moderately High
Expense Ratio 2.26
Sharpe Ratio 4.02
Information Ratio 0.76
Alpha Ratio 18.29
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Aug 16₹10,000
31 Aug 17₹11,443
31 Aug 18₹13,658
31 Aug 19₹12,673
31 Aug 20₹14,228
31 Aug 21₹23,269

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 ₹481,656.
Net Profit of ₹181,656
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 24 Sep 21

DurationReturns
1 Month 6.4%
3 Month 13%
6 Month 25.8%
1 Year 69.1%
3 Year 24%
5 Year 18.8%
Since launch 21.5%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2020 27.4%
2019 10.7%
2018 2.7%
2017 32%
2016 0%
2015 0.6%
2014 45.2%
2013 5.3%
2012 30%
2011 -16.3%
Fund Manager information for Canara Robeco Equity Tax Saver
NameSinceTenure
Vishal Mishra26 Jun 210.1 Yr.
Shridatta Bhandwaldar1 Oct 191.83 Yr.

Data below for Canara Robeco Equity Tax Saver as on 31 Aug 21

Equity Sector Allocation
SectorValue
Financial Services31.49%
Technology16.23%
Consumer Cyclical12.85%
Industrials12.49%
Basic Materials8.61%
Health Care5.98%
Consumer Defensive4.32%
Communication Services2.24%
Utility1.98%
Energy1.74%
Asset Allocation
Asset ClassValue
Cash2.07%
Equity97.93%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Infosys Ltd (Technology)
Equity, Since 31 Jul 18 | INFY
9%₹222 Cr1,376,310
↓ -30,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK
8%₹189 Cr1,322,184
↑ 80,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK
7%₹171 Cr2,506,000
Larsen & Toubro Ltd Shs Dematerialised (Industrials)
Equity, Since 31 Dec 20 | LT
4%₹109 Cr680,000
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Jun 20 | TCS
4%₹91 Cr288,815
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 19 | 500034
3%₹82 Cr132,450
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 30 Nov 20 | HDFC
3%₹73 Cr297,500
State Bank of India (Financial Services)
Equity, Since 30 Nov 20 | SBIN
3%₹69 Cr1,600,000
↑ 100,000
Axis Bank Ltd (Financial Services)
Equity, Since 31 Dec 20 | 532215
3%₹66 Cr928,000
Divi's Laboratories Ltd (Healthcare)
Equity, Since 31 Dec 18 | DIVISLAB
2%₹50 Cr101,500
↑ 7,500

2. 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 21.5% since its launch.  Ranked 23 in ELSS category.  Return for 2020 was 11.5% , 2019 was 10.1% and 2018 was -3.9% .

Below is the key information for HDFC Long Term Advantage Fund

HDFC Long Term Advantage Fund
Growth
Launch Date 2 Jan 01
NAV (24 Sep 21) ₹561.864 ↑ 0.20   (0.03 %)
Net Assets (Cr) ₹1,363 on 31 Aug 21
Category Equity - ELSS
AMC HDFC Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.25
Sharpe Ratio 2.51
Information Ratio -0.1
Alpha Ratio 8.34
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Aug 16₹10,000
31 Aug 17₹11,926
31 Aug 18₹13,427
31 Aug 19₹12,682
31 Aug 20₹12,863
31 Aug 21₹20,367

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 ₹447,579.
Net Profit of ₹147,579
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 24 Sep 21

DurationReturns
1 Month 6.3%
3 Month 12%
6 Month 25.7%
1 Year 72.9%
3 Year 18.3%
5 Year 15.8%
Since launch 21.5%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2020 11.5%
2019 10.1%
2018 -3.9%
2017 36.2%
2016 13%
2015 -2.4%
2014 44.7%
2013 11%
2012 28.8%
2011 -23.5%
Fund Manager information for HDFC Long Term Advantage Fund
NameSinceTenure
Chirag Setalvad2 Apr 0714.34 Yr.

Data below for HDFC Long Term Advantage Fund as on 31 Aug 21

Equity Sector Allocation
SectorValue
Financial Services35.68%
Industrials17.76%
Technology14.97%
Energy11.53%
Consumer Defensive4.5%
Basic Materials4.47%
Health Care2.8%
Utility2.61%
Consumer Cyclical2.35%
Communication Services2.21%
Asset Allocation
Asset ClassValue
Cash1.12%
Equity98.88%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK
10%₹130 Cr1,900,000
↓ -100,000
Infosys Ltd (Technology)
Equity, Since 30 Nov 06 | INFY
9%₹121 Cr750,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Jun 13 | HDFCBANK
9%₹114 Cr800,000
Reliance Industries Ltd Shs Dematerialised (Energy)
Equity, Since 31 Jul 05 | RELIANCE
8%₹106 Cr520,000
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Oct 08 | HDFC
7%₹98 Cr400,000
Larsen & Toubro Ltd Shs Dematerialised (Industrials)
Equity, Since 31 Oct 07 | LT
7%₹97 Cr607,500
State Bank of India (Financial Services)
Equity, Since 31 Jan 03 | SBIN
7%₹91 Cr2,100,000
Carborundum Universal Ltd (Industrials)
Equity, Since 30 Jun 03 | 513375
5%₹68 Cr1,010,413
↓ -16,354
Redington (India) Ltd (Technology)
Equity, Since 31 Jul 15 | 532805
5%₹64 Cr1,951,513
ITC Ltd (Consumer Defensive)
Equity, Since 31 Oct 05 | ITC
4%₹58 Cr2,822,910

3. 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 20.4% since its launch.  Ranked 30 in ELSS category.  Return for 2020 was 13.6% , 2019 was 8.8% and 2018 was 0.5% .

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 (24 Sep 21) ₹602.79 ↑ 0.75   (0.12 %)
Net Assets (Cr) ₹9,825 on 31 Aug 21
Category Equity - ELSS
AMC ICICI Prudential Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 1.98
Sharpe Ratio 2.71
Information Ratio -0.04
Alpha Ratio -2.88
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Aug 16₹10,000
31 Aug 17₹10,657
31 Aug 18₹12,767
31 Aug 19₹11,663
31 Aug 20₹12,067
31 Aug 21₹19,130

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 ₹436,710.
Net Profit of ₹136,710
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 24 Sep 21

DurationReturns
1 Month 7.8%
3 Month 15.4%
6 Month 26.4%
1 Year 76.8%
3 Year 18.2%
5 Year 14.5%
Since launch 20.4%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2020 13.6%
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%
Fund Manager information for ICICI Prudential Long Term Equity Fund (Tax Saving)
NameSinceTenure
Priyanka Khandelwal15 Jun 174.13 Yr.
Harish Bihani5 Nov 182.74 Yr.

Data below for ICICI Prudential Long Term Equity Fund (Tax Saving) as on 31 Aug 21

Equity Sector Allocation
SectorValue
Financial Services29.58%
Technology17.39%
Consumer Defensive8.38%
Consumer Cyclical7.88%
Communication Services6.98%
Industrials6.92%
Basic Materials6.06%
Health Care5.42%
Energy5.28%
Utility3.75%
Real Estate0.96%
Asset Allocation
Asset ClassValue
Cash1.39%
Equity98.61%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | ICICIBANK
7%₹655 Cr9,593,900
Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 17 | BHARTIARTL
6%₹549 Cr9,781,565
↑ 616,839
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 17 | HDFCBANK
6%₹541 Cr3,795,142
↑ 5,890
Infosys Ltd (Technology)
Equity, Since 30 Jun 16 | INFY
6%₹515 Cr3,199,245
↓ -146,874
HCL Technologies Ltd Shs Dematerialised (Technology)
Equity, Since 31 May 19 | HCLTECH
4%₹344 Cr3,355,220
Axis Bank Ltd (Financial Services)
Equity, Since 30 Nov 18 | 532215
3%₹292 Cr4,117,894
↑ 190,266
Reliance Industries Ltd Shs Dematerialised (Energy)
Equity, Since 31 May 20 | RELIANCE
3%₹276 Cr1,358,345
Hindalco Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | HINDALCO
3%₹269 Cr6,047,422
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Aug 20 | HDFC
3%₹266 Cr1,089,047
State Bank of India (Financial Services)
Equity, Since 31 Oct 18 | SBIN
3%₹244 Cr5,655,786

4. 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 20.4% since its launch.  Ranked 13 in ELSS category.  Return for 2020 was 31.2% , 2019 was 14.6% and 2018 was -16.3% .

Below is the key information for BOI AXA Tax Advantage Fund

BOI AXA Tax Advantage Fund
Growth
Launch Date 25 Feb 09
NAV (24 Sep 21) ₹102.79 ↓ -0.26   (-0.25 %)
Net Assets (Cr) ₹512 on 31 Aug 21
Category Equity - ELSS
AMC BOI AXA Investment Mngrs Private Ltd
Rating
Risk Moderately High
Expense Ratio 2.56
Sharpe Ratio 4.47
Information Ratio 0.69
Alpha Ratio 22.44
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Aug 16₹10,000
31 Aug 17₹12,118
31 Aug 18₹13,858
31 Aug 19₹11,934
31 Aug 20₹14,357
31 Aug 21₹24,318

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 ₹505,644.
Net Profit of ₹205,644
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 24 Sep 21

DurationReturns
1 Month 7.9%
3 Month 16.5%
6 Month 32.9%
1 Year 77.2%
3 Year 27.2%
5 Year 20%
Since launch 20.4%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2020 31.2%
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%
Fund Manager information for BOI AXA Tax Advantage Fund
NameSinceTenure
Aakash Manghani15 Jul 192.05 Yr.

Data below for BOI AXA Tax Advantage Fund as on 31 Aug 21

Equity Sector Allocation
SectorValue
Financial Services23.77%
Basic Materials21.46%
Technology16.22%
Health Care14.72%
Consumer Cyclical9.84%
Consumer Defensive3.49%
Communication Services3.41%
Industrials3.22%
Energy1.75%
Utility1.49%
Asset Allocation
Asset ClassValue
Cash0.63%
Equity99.37%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK
5%₹25 Cr361,176
↑ 30,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK
4%₹21 Cr145,982
↓ -18,168
Infosys Ltd (Technology)
Equity, Since 30 Jun 20 | INFY
4%₹19 Cr118,505
Divi's Laboratories Ltd (Healthcare)
Equity, Since 30 Sep 18 | DIVISLAB
4%₹19 Cr38,259
Laurus Labs Ltd (Healthcare)
Equity, Since 30 Jun 20 | 540222
3%₹15 Cr236,350
↓ -30,000
PI Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | PIIND
3%₹15 Cr51,325
Coforge Ltd Shs Dematerialised (Technology)
Equity, Since 31 Jul 20 | 532541
3%₹15 Cr28,640
↑ 1,000
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 18 | 500034
3%₹14 Cr22,229
↑ 2,780
Navin Fluorine International Ltd (Basic Materials)
Equity, Since 31 Jul 19 | 532504
2%₹12 Cr31,892
↓ -1,100
Deepak Nitrite Ltd (Basic Materials)
Equity, Since 31 Aug 20 | 506401
2%₹11 Cr54,523
↑ 2,200

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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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