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Best Tax Saving Mutual Funds Plans FY 20 - 21

Updated on April 5, 2020 , 432 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 ₹285.05
↑ 19.31
₹6,298-26.8-19.3-25-4.30.58.817.6
Canara Robeco Equity Tax Saver Growth ₹56.45
↑ 4.11
₹1,036-16.5-10.9-13.23310.716.7
BOI AXA Tax Advantage Fund Growth ₹46.98
↑ 2.61
₹280-14.4-8-6.53.13.414.614.9
Axis Long Term Equity Fund Growth ₹38.752
↑ 2.38
₹21,659-20.6-15.8-12.23.63.914.814.1
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 8 Apr 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 17.6% 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 (08 Apr 20) ₹285.05 ↑ 19.31   (7.30 %)
Net Assets (Cr) ₹6,298 on 29 Feb 20
Category Equity - ELSS
AMC ICICI Prudential Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.17
Sharpe Ratio 0.11
Information Ratio -0.41
Alpha Ratio -0.48
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 15₹10,000
31 Mar 16₹9,426
31 Mar 17₹11,970
31 Mar 18₹12,827
31 Mar 19₹13,956
31 Mar 20₹10,139

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 ₹307,716.
Net Profit of ₹7,716
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 8 Apr 20

DurationReturns
1 Month -20%
3 Month -26.8%
6 Month -19.3%
1 Year -25%
3 Year -4.3%
5 Year 0.5%
Since launch 17.6%
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
Sankaran Naren5 Nov 181.15 Yr.
Priyanka Khandelwal15 Jun 172.55 Yr.
Harish Bihani5 Nov 181.15 Yr.

Data below for ICICI Prudential Long Term Equity Fund (Tax Saving) as on 29 Feb 20

Equity Sector Allocation
SectorValue
Financial Services25.79%
Utility9.84%
Communication Services9.44%
Health Care8.82%
Industrials7.67%
Energy7.47%
Basic Materials7.06%
Technology6.81%
Consumer Defensive6.27%
Consumer Cyclical6.22%
Real Estate0.49%
Asset Allocation
Asset ClassValue
Cash3.78%
Equity96.22%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 17 | BHARTIARTL
8%₹491 Cr9,387,749
↓ -118,733
NTPC Ltd (Utilities)
Equity, Since 31 Jul 17 | 532555
7%₹426 Cr40,000,000
↑ 4,740,879
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | ICICIBANK
7%₹418 Cr8,402,979
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 17 | HDFCBANK
6%₹392 Cr3,331,119
↑ 150,000
Oil & Natural Gas Corp Ltd (Energy)
Equity, Since 30 Nov 18 | 500312
4%₹276 Cr30,000,000
↑ 4,999,907
Treps
CBLO/Reverse Repo | -
4%₹271 Cr
ITC Ltd (Consumer Defensive)
Equity, Since 31 Jul 17 | ITC
4%₹242 Cr12,253,608
Hindalco Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | HINDALCO
4%₹227 Cr14,585,604
Axis Bank Ltd (Financial Services)
Equity, Since 30 Nov 18 | 532215
3%₹187 Cr2,679,464
Infosys Ltd (Technology)
Equity, Since 30 Jun 16 | INFY
3%₹183 Cr2,498,702
↓ -345,000

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 16.7% 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 (08 Apr 20) ₹56.45 ↑ 4.11   (7.97 %)
Net Assets (Cr) ₹1,036 on 29 Feb 20
Category Equity - ELSS
AMC Canara Robeco Asset Management Co. Ltd.
Rating
Risk Moderately High
Expense Ratio 2.32
Sharpe Ratio 0.89
Information Ratio 0.66
Alpha Ratio 10.65
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 15₹10,000
31 Mar 16₹9,068
31 Mar 17₹10,745
31 Mar 18₹12,151
31 Mar 19₹13,815
31 Mar 20₹11,442

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 ₹323,701.
Net Profit of ₹23,701
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 8 Apr 20

DurationReturns
1 Month -17.7%
3 Month -16.5%
6 Month -10.9%
1 Year -13.2%
3 Year 3%
5 Year 3%
Since launch 16.7%
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 190.16 Yr.
Cheenu Gupta12 Mar 181.72 Yr.

Data below for Canara Robeco Equity Tax Saver as on 29 Feb 20

Equity Sector Allocation
SectorValue
Financial Services32.61%
Health Care13.11%
Consumer Defensive10.94%
Industrials9.97%
Technology7.76%
Basic Materials6.98%
Energy6.59%
Consumer Cyclical4.68%
Communication Services3.39%
Asset Allocation
Asset ClassValue
Cash3.91%
Equity96.09%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK
7%₹69 Cr1,386,000
↑ 50,000
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 19 | RELIANCE
7%₹68 Cr514,000
↑ 37,500
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 19 | 500034
6%₹61 Cr136,650
↑ 7,500
Treps
CBLO/Reverse Repo | -
6%₹58 Cr
Infosys Ltd (Technology)
Equity, Since 31 Jul 18 | INFY
6%₹58 Cr789,500
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK
5%₹48 Cr408,184
↓ -275,000
Hindustan Unilever Ltd (Consumer Defensive)
Equity, Since 31 Oct 16 | 500696
4%₹47 Cr213,830
Axis Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | 532215
4%₹44 Cr628,500
↑ 177,500
Divi's Laboratories Ltd (Healthcare)
Equity, Since 31 Dec 18 | DIVISLAB
4%₹44 Cr206,500
Bharti Airtel Ltd (Communication Services)
Equity, Since 29 Feb 20 | BHARTIARTL
3%₹35 Cr672,000
↑ 672,000

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 14.9% 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 (08 Apr 20) ₹46.98 ↑ 2.61   (5.98 %)
Net Assets (Cr) ₹280 on 29 Feb 20
Category Equity - ELSS
AMC BOI AXA Investment Mngrs Private Ltd
Rating
Risk Moderately High
Expense Ratio 3.02
Sharpe Ratio 1.32
Information Ratio 0.52
Alpha Ratio 16.52
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 15₹10,000
31 Mar 16₹9,000
31 Mar 17₹10,990
31 Mar 18₹14,041
31 Mar 19₹12,907
31 Mar 20₹11,598

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 ₹331,978.
Net Profit of ₹31,978
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 8 Apr 20

DurationReturns
1 Month -16.6%
3 Month -14.4%
6 Month -8%
1 Year -6.5%
3 Year 3.1%
5 Year 3.4%
Since launch 14.9%
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 190.46 Yr.

Data below for BOI AXA Tax Advantage Fund as on 29 Feb 20

Equity Sector Allocation
SectorValue
Financial Services33.43%
Basic Materials12.54%
Consumer Cyclical9.03%
Consumer Defensive8.8%
Health Care8.79%
Industrials7.03%
Technology4.52%
Communication Services4.18%
Energy4.11%
Utility1.15%
Real Estate1.02%
Asset Allocation
Asset ClassValue
Cash5.38%
Equity94.62%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 18 | 500034
7%₹19 Cr43,629
↑ 1,426
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK
6%₹15 Cr131,575
↓ -4,748
Repo
CBLO/Reverse Repo | -
5%₹14 Cr
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK
4%₹12 Cr243,281
↓ -18,810
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE
4%₹12 Cr86,583
Abbott India Ltd (Healthcare)
Equity, Since 31 Aug 18 | 500488
3%₹10 Cr6,158
↑ 427
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 30 Sep 18 | KOTAKBANK
3%₹10 Cr59,607
↓ -3,700
PI Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | PIIND
3%₹9 Cr60,346
↑ 6,191
Divi's Laboratories Ltd (Healthcare)
Equity, Since 30 Sep 18 | DIVISLAB
3%₹7 Cr34,011
Avenue Supermarts Ltd (Consumer Defensive)
Equity, Since 31 Oct 18 | 540376
2%₹7 Cr28,674

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 14.1% 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 (08 Apr 20) ₹38.752 ↑ 2.38   (6.55 %)
Net Assets (Cr) ₹21,659 on 29 Feb 20
Category Equity - ELSS
AMC Axis Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.13
Sharpe Ratio 1.23
Information Ratio 0.97
Alpha Ratio 12.46
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 15₹10,000
31 Mar 16₹9,396
31 Mar 17₹11,115
31 Mar 18₹12,982
31 Mar 19₹14,088
31 Mar 20₹12,410

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 ₹331,978.
Net Profit of ₹31,978
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 8 Apr 20

DurationReturns
1 Month -21%
3 Month -20.6%
6 Month -15.8%
1 Year -12.2%
3 Year 3.6%
5 Year 3.9%
Since launch 14.1%
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 118.67 Yr.

Data below for Axis Long Term Equity Fund as on 29 Feb 20

Equity Sector Allocation
SectorValue
Financial Services37.19%
Consumer Defensive13.5%
Consumer Cyclical12.34%
Technology7.56%
Basic Materials6.89%
Communication Services6.83%
Utility3.61%
Industrials3.6%
Health Care2.23%
Asset Allocation
Asset ClassValue
Cash6.26%
Equity93.74%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Sep 16 | 500034
9%₹1,894 Cr4,241,235
↓ -276,444
Avenue Supermarts Ltd (Consumer Defensive)
Equity, Since 30 Apr 17 | 540376
8%₹1,832 Cr7,881,255
↑ 488,042
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 May 11 | KOTAKBANK
8%₹1,831 Cr11,301,076
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFCBANK
6%₹1,376 Cr11,681,210
↓ -427,388
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 17 | TCS
6%₹1,336 Cr6,681,123
↑ 782,163
Pidilite Industries Ltd (Basic Materials)
Equity, Since 30 Nov 14 | PIDILITIND
6%₹1,240 Cr8,192,895
Clearing Corporation Of India Ltd
CBLO | -
5%₹1,125 Cr
Info Edge (India) Ltd (Communication Services)
Equity, Since 31 May 14 | NAUKRI
5%₹1,101 Cr4,246,384
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFC
5%₹1,061 Cr4,874,477
↓ -172,185
Maruti Suzuki India Ltd (Consumer Cyclical)
Equity, Since 30 Nov 10 | MARUTI
5%₹1,020 Cr1,623,481
↓ -7,500

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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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