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Best Tax Saving Mutual Funds Plans FY 21 - 22

Updated on April 12, 2021 , 2011 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 ₹92.42
↑ 0.83
₹1,7250.522.760.315.41627.420
ICICI Prudential Long Term Equity Fund (Tax Saving) Growth ₹474.28
↑ 6.42
₹8,2510.229.860.610.212.713.619.5
Mirae Asset Tax Saver Fund Growth ₹25.08
↑ 0.35
₹6,3513.227.873.715.520.421.519
BOI AXA Tax Advantage Fund Growth ₹78.24
↑ 0.56
₹3993.52563.610.81731.218.5
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 13 Apr 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 20% 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 (13 Apr 21) ₹92.42 ↑ 0.83   (0.91 %)
Net Assets (Cr) ₹1,725 on 28 Feb 21
Category Equity - ELSS
AMC Canara Robeco Asset Management Co. Ltd.
Rating
Risk Moderately High
Expense Ratio 2.32
Sharpe Ratio 0.99
Information Ratio 0.7
Alpha Ratio 3.71
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 16₹10,000
31 Mar 17₹11,850
31 Mar 18₹13,400
31 Mar 19₹15,236
31 Mar 20₹12,618
31 Mar 21₹21,905

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 ₹458,689.
Net Profit of ₹158,689
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 13 Apr 21

DurationReturns
1 Month -4.3%
3 Month 0.5%
6 Month 22.7%
1 Year 60.3%
3 Year 15.4%
5 Year 16%
Since launch 20%
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
Shridatta Bhandwaldar1 Oct 191.5 Yr.
Cheenu Gupta12 Mar 183.06 Yr.

Data below for Canara Robeco Equity Tax Saver as on 28 Feb 21

Equity Sector Allocation
SectorValue
Financial Services31.77%
Technology18.31%
Industrials12.9%
Consumer Cyclical12.12%
Basic Materials10.76%
Health Care4.18%
Consumer Defensive3.44%
Communication Services2.84%
Utility1.02%
Energy0.41%
Asset Allocation
Asset ClassValue
Cash2.24%
Equity97.76%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Infosys Ltd (Technology)
Equity, Since 31 Jul 18 | INFY
8%₹163 Cr1,191,310
↑ 116,810
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK
7%₹146 Cr2,506,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK
6%₹115 Cr767,184
↑ 75,000
State Bank of India (Financial Services)
Equity, Since 30 Nov 20 | SBIN
6%₹108 Cr2,975,000
Larsen & Toubro Ltd Shs Dematerialised (Industrials)
Equity, Since 31 Dec 20 | LT
5%₹96 Cr680,000
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 19 | 500034
3%₹68 Cr132,450
↑ 7,500
Axis Bank Ltd (Financial Services)
Equity, Since 31 Dec 20 | 532215
3%₹65 Cr928,000
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Jun 20 | TCS
3%₹61 Cr192,815
↑ 70,000
Divi's Laboratories Ltd (Healthcare)
Equity, Since 31 Dec 18 | DIVISLAB
2%₹43 Cr119,000
↑ 13,500
Voltas Ltd Shs Dematerialised (Industrials)
Equity, Since 31 Jul 20 | VOLTAS
2%₹42 Cr420,000

2. 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 19.5% 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 (13 Apr 21) ₹474.28 ↑ 6.42   (1.37 %)
Net Assets (Cr) ₹8,251 on 28 Feb 21
Category Equity - ELSS
AMC ICICI Prudential Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.01
Sharpe Ratio 0.86
Information Ratio -0.02
Alpha Ratio -1.01
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 16₹10,000
31 Mar 17₹12,699
31 Mar 18₹13,608
31 Mar 19₹14,805
31 Mar 20₹10,756
31 Mar 21₹18,856

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 ₹415,684.
Net Profit of ₹115,684
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 13 Apr 21

DurationReturns
1 Month -4.1%
3 Month 0.2%
6 Month 29.8%
1 Year 60.6%
3 Year 10.2%
5 Year 12.7%
Since launch 19.5%
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 173.8 Yr.
Harish Bihani5 Nov 182.4 Yr.

Data below for ICICI Prudential Long Term Equity Fund (Tax Saving) as on 28 Feb 21

Equity Sector Allocation
SectorValue
Financial Services31.11%
Technology14.61%
Consumer Defensive9.8%
Communication Services7.3%
Industrials6.52%
Utility6.21%
Energy6.15%
Health Care5.69%
Basic Materials5.26%
Consumer Cyclical4.9%
Real Estate0.93%
Asset Allocation
Asset ClassValue
Cash1.52%
Equity98.48%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 17 | HDFCBANK
7%₹581 Cr3,789,252
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | ICICIBANK
7%₹573 Cr9,593,900
Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 17 | BHARTIARTL
6%₹510 Cr9,164,726
↓ -657,670
Infosys Ltd (Technology)
Equity, Since 30 Jun 16 | INFY
6%₹497 Cr3,964,428
↑ 107,777
NTPC Ltd (Utilities)
Equity, Since 31 Jul 17 | 532555
4%₹297 Cr27,637,925
↓ -1,976,719
Reliance Industries Ltd Shs Dematerialised (Energy)
Equity, Since 31 May 20 | RELIANCE
3%₹283 Cr1,358,345
↑ 50,000
Axis Bank Ltd (Financial Services)
Equity, Since 30 Nov 18 | 532215
3%₹277 Cr3,827,628
↑ 357,018
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Aug 20 | HDFC
3%₹277 Cr1,089,047
HCL Technologies Ltd Shs Dematerialised (Technology)
Equity, Since 31 May 19 | HCLTECH
3%₹274 Cr3,015,220
↑ 113,010
Hindalco Industries Ltd Shs Dematerialised (Basic Materials)
Equity, Since 30 Nov 18 | HINDALCO
3%₹213 Cr6,268,531
↓ -2,510,888

3. Mirae Asset Tax Saver Fund

The investment objective of the scheme is to generate long term capital appreciation from a diversified portfolio of predominantly equity and equity related instruments. The Scheme does not guarantee or assure any returns.

Mirae Asset Tax Saver Fund is a Equity - ELSS fund was launched on 28 Dec 15. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 19% since its launch.  Return for 2020 was 21.5% , 2019 was 14.1% and 2018 was -2.3% .

Below is the key information for Mirae Asset Tax Saver Fund

Mirae Asset Tax Saver Fund
Growth
Launch Date 28 Dec 15
NAV (13 Apr 21) ₹25.08 ↑ 0.35   (1.43 %)
Net Assets (Cr) ₹6,351 on 28 Feb 21
Category Equity - ELSS
AMC Mirae Asset Global Inv (India) Pvt. Ltd
Rating Not Rated
Risk Moderately High
Expense Ratio 1.63
Sharpe Ratio 1.02
Information Ratio 1.12
Alpha Ratio 5.26
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 16₹10,000
31 Mar 17₹13,829
31 Mar 18₹16,061
31 Mar 19₹18,098
31 Mar 20₹14,060
31 Mar 21₹26,154

Mirae Asset 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 ₹505,644.
Net Profit of ₹205,644
Invest Now

Returns for Mirae Asset 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 13 Apr 21

DurationReturns
1 Month -3.5%
3 Month 3.2%
6 Month 27.8%
1 Year 73.7%
3 Year 15.5%
5 Year 20.4%
Since launch 19%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2020 21.5%
2019 14.1%
2018 -2.3%
2017 47.9%
2016 14.8%
2015
2014
2013
2012
2011
Fund Manager information for Mirae Asset Tax Saver Fund
NameSinceTenure
Neelesh Surana28 Dec 155.26 Yr.

Data below for Mirae Asset Tax Saver Fund as on 28 Feb 21

Equity Sector Allocation
SectorValue
Financial Services38.67%
Technology11.42%
Basic Materials10.1%
Consumer Cyclical7.4%
Health Care7.18%
Consumer Defensive6.23%
Industrials6.18%
Energy4.42%
Communication Services3.26%
Utility1.84%
Asset Allocation
Asset ClassValue
Cash0.32%
Equity99.68%
Other0%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | HDFCBANK
9%₹593 Cr3,864,722
Infosys Ltd (Technology)
Equity, Since 31 Dec 15 | INFY
7%₹448 Cr3,571,693
↑ 365,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | ICICIBANK
7%₹445 Cr7,443,912
↑ 140,000
Axis Bank Ltd (Financial Services)
Equity, Since 31 Jan 18 | 532215
5%₹296 Cr4,086,266
↓ -80,000
Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Dec 15 | TCS
4%₹273 Cr944,826
↑ 155,000
State Bank of India (Financial Services)
Equity, Since 31 Dec 15 | SBIN
3%₹197 Cr5,053,799
Reliance Industries Limited
Equity, Since 30 Jun 20 | -
3%₹190 Cr1,568,304
↓ -42,034
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 May 20 | BHARTIARTL
3%₹184 Cr3,313,000
↓ -265,000
Maruti Suzuki India Ltd (Consumer Cyclical)
Equity, Since 31 Dec 15 | MARUTI
3%₹161 Cr235,091
↑ 65,999
JK Cement Ltd (Basic Materials)
Equity, Since 30 Jun 19 | JKCEMENT
2%₹157 Cr584,199

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 18.5% 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 (13 Apr 21) ₹78.24 ↑ 0.56   (0.72 %)
Net Assets (Cr) ₹399 on 28 Feb 21
Category Equity - ELSS
AMC BOI AXA Investment Mngrs Private Ltd
Rating
Risk Moderately High
Expense Ratio 2.67
Sharpe Ratio 1
Information Ratio 0.05
Alpha Ratio 2.82
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 16₹10,000
31 Mar 17₹12,211
31 Mar 18₹15,601
31 Mar 19₹14,341
31 Mar 20₹12,887
31 Mar 21₹22,489

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 ₹470,047.
Net Profit of ₹170,047
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 13 Apr 21

DurationReturns
1 Month -2.3%
3 Month 3.5%
6 Month 25%
1 Year 63.6%
3 Year 10.8%
5 Year 17%
Since launch 18.5%
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 191.72 Yr.

Data below for BOI AXA Tax Advantage Fund as on 28 Feb 21

Equity Sector Allocation
SectorValue
Financial Services29.87%
Basic Materials17.62%
Technology14.56%
Health Care10.22%
Consumer Cyclical9.97%
Industrials4.63%
Communication Services3.92%
Energy3.48%
Consumer Defensive2.11%
Utility0.72%
Asset Allocation
Asset ClassValue
Cash2.91%
Equity97.09%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK
7%₹27 Cr173,358
↑ 4,949
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK
5%₹19 Cr320,694
↑ 68,381
Infosys Ltd (Technology)
Equity, Since 30 Jun 20 | INFY
4%₹16 Cr129,655
↓ -3,093
Reliance Industries Ltd Shs Dematerialised (Energy)
Equity, Since 30 Nov 18 | RELIANCE
3%₹14 Cr66,440
↓ -11,189
PI Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | PIIND
3%₹13 Cr58,142
↓ -6,500
Divi's Laboratories Ltd (Healthcare)
Equity, Since 30 Sep 18 | DIVISLAB
3%₹12 Cr35,659
↑ 1,040
Cholamandalam Investment and Finance Co Ltd (Financial Services)
Equity, Since 31 Jan 18 | CHOLAFIN
3%₹12 Cr223,507
↑ 22,736
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 May 19 | HDFC
3%₹11 Cr42,848
↑ 5,037
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 30 Sep 18 | KOTAKBANK
3%₹11 Cr59,554
↑ 2,085
Laurus Labs Ltd (Healthcare)
Equity, Since 30 Jun 20 | 540222
2%₹10 Cr278,350

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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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