fincash logo SOLUTIONS
EXPLORE FUNDS
CALCULATORS
LOG IN
SIGN UP

Fincash » Mutual Funds » Best Tax Saving

Best Tax Saving Mutual Funds Plans FY 19 - 20

Updated on April 14, 2019 , 137 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 19 - 20

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!

Ready to Invest?
Talk to our investment specialist
Disclaimer:
By submitting this form I authorize Fincash.com to call/SMS/email me about its products and I accept the terms of Privacy Policy and Terms & Conditions.

Top 4 Best performing Tax Saving ELSS Mutual Funds

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2018 (%)Since launch (%)
ICICI Prudential Long Term Equity Fund (Tax Saving) Growth ₹385.41
↑ 2.28
₹5,6146.1108.713.915.30.520.4
Canara Robeco Equity Tax Saver Growth ₹65.82
↑ 0.41
₹8516.311.3914.414.92.720.3
Mirae Asset Tax Saver Fund Growth ₹17.858
↑ 0.12
₹1,3817.3119.521.7 -2.319.2
IDFC Tax Advantage (ELSS) Fund Growth ₹56.91
↑ 0.25
₹1,7417.18-415.717-9.418.4
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 16 Apr 19
*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 20.4% since its launch.  Ranked 30 in ELSS category.  Return for 2018 was 0.5% , 2017 was 26% and 2016 was 3.9% .

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 (16 Apr 19) ₹385.41 ↑ 2.28   (0.60 %)
Net Assets (Cr) ₹5,614 on 28 Feb 19
Category Equity - ELSS
AMC ICICI Prudential Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.39
Sharpe Ratio -0.27
Information Ratio -0.52
Alpha Ratio -0.05
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 14₹10,000
31 Mar 15₹14,486
31 Mar 16₹13,655
31 Mar 17₹17,340
31 Mar 18₹18,582
31 Mar 19₹20,216

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 ₹447,579.
Net Profit of ₹147,579
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 16 Apr 19

DurationReturns
1 Month 4%
3 Month 6.1%
6 Month 10%
1 Year 8.7%
3 Year 13.9%
5 Year 15.3%
Since launch 20.4%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
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%
2009 112%
Fund Manager information for ICICI Prudential Long Term Equity Fund (Tax Saving)
NameSinceTenure
Sankaran Naren5 Nov 180.32 Yr.
Priyanka Khandelwal15 Jun 171.71 Yr.
Harish Bihani5 Nov 180.32 Yr.

Data below for ICICI Prudential Long Term Equity Fund (Tax Saving) as on 28 Feb 19

Equity Sector Allocation
SectorValue
Financial Services23.61%
Basic Materials9.83%
Utility9.1%
Consumer Cyclical9.04%
Health Care8.47%
Consumer Defensive7.96%
Technology7.64%
Industrials7.36%
Energy5.32%
Communication Services4.3%
Asset Allocation
Asset ClassValue
Cash7.36%
Equity92.64%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Treps
CBLO/Reverse Repo | -
8%₹475 Cr
ITC Ltd (Consumer Defensive)
Equity, Since 31 Jul 17 | ITC
6%₹357 Cr12,000,000
↓ -1,834,485
NTPC Ltd (Utilities)
Equity, Since 31 Jul 17 | 532555
6%₹345 Cr25,618,112
↑ 1,048,972
Oil & Natural Gas Corp Ltd (Energy)
Equity, Since 30 Nov 18 | 500312
4%₹273 Cr17,095,014
Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 17 | BHARTIARTL
4%₹266 Cr8,000,000
↓ -241,799
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | ICICIBANK
4%₹240 Cr6,000,000
↓ -166,698
Infosys Ltd (Technology)
Equity, Since 30 Jun 16 | INFY
4%₹228 Cr3,059,453
Hindalco Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | HINDALCO
4%₹225 Cr10,936,197
↑ 936,197
State Bank of India (Financial Services)
Equity, Since 31 Oct 18 | SBIN
4%₹222 Cr6,906,964
Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Oct 18 | LT
3%₹214 Cr1,543,500

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 20.3% since its launch.  Ranked 36 in ELSS category.  Return for 2018 was 2.7% , 2017 was 32% and 2016 was 0% .

Below is the key information for Canara Robeco Equity Tax Saver

Canara Robeco Equity Tax Saver
Growth
Launch Date 2 Feb 09
NAV (16 Apr 19) ₹65.82 ↑ 0.41   (0.63 %)
Net Assets (Cr) ₹851 on 28 Feb 19
Category Equity - ELSS
AMC Canara Robeco Asset Management Co. Ltd.
Rating
Risk Moderately High
Expense Ratio 2.59
Sharpe Ratio 0.01
Information Ratio -0.23
Alpha Ratio 0.01
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 14₹10,000
31 Mar 15₹14,422
31 Mar 16₹13,077
31 Mar 17₹15,496
31 Mar 18₹17,524
31 Mar 19₹19,924

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 ₹436,710.
Net Profit of ₹136,710
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 16 Apr 19

DurationReturns
1 Month 2.9%
3 Month 6.3%
6 Month 11.3%
1 Year 9%
3 Year 14.4%
5 Year 14.9%
Since launch 20.3%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2018 2.7%
2017 32%
2016 0%
2015 0.6%
2014 45.2%
2013 5.3%
2012 30%
2011 -16.3%
2010 24.9%
2009
Fund Manager information for Canara Robeco Equity Tax Saver
NameSinceTenure
Krishna Sanghavi16 Oct 180.37 Yr.
Cheenu Gupta12 Mar 180.97 Yr.

Data below for Canara Robeco Equity Tax Saver as on 28 Feb 19

Equity Sector Allocation
SectorValue
Financial Services28.95%
Industrials25.85%
Technology10.84%
Consumer Cyclical7.6%
Consumer Defensive6.76%
Basic Materials5.67%
Energy5.04%
Utility2.85%
Health Care2.62%
Asset Allocation
Asset ClassValue
Cash3.83%
Equity96.17%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK
7%₹71 Cr306,842
↓ -30,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK
6%₹60 Cr1,502,000
↓ -417,000
Reliance Industries Ltd (Energy)
Equity, Since 31 Oct 17 | RELIANCE
5%₹48 Cr351,500
↓ -69,000
Axis Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | 532215
5%₹47 Cr604,000
↓ -67,000
Treps
CBLO/Reverse Repo | -
5%₹44 Cr
Larsen & Toubro Ltd (Industrials)
Equity, Since 30 Apr 18 | LT
4%₹36 Cr263,200
State Bank of India (Financial Services)
Equity, Since 31 Aug 18 | SBIN
4%₹36 Cr1,107,000
↓ -385,000
Infosys Ltd (Technology)
Equity, Since 31 Jul 18 | INFY
3%₹27 Cr368,500
↓ -245,500
VIP Industries Ltd (Consumer Cyclical)
Equity, Since 31 Mar 18 | 507880
3%₹27 Cr559,034
Divi's Laboratories Ltd (Healthcare)
Equity, Since 31 Dec 18 | DIVISLAB
3%₹25 Cr146,500
↑ 15,000

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 19.2% since its launch.  Return for 2018 was -2.3% , 2017 was 47.9% and 2016 was 14.8% .

Below is the key information for Mirae Asset Tax Saver Fund

Mirae Asset Tax Saver Fund
Growth
Launch Date 28 Dec 15
NAV (16 Apr 19) ₹17.858 ↑ 0.12   (0.70 %)
Net Assets (Cr) ₹1,381 on 28 Feb 19
Category Equity - ELSS
AMC Mirae Asset Global Inv (India) Pvt. Ltd
Rating Not Rated
Risk Moderately High
Expense Ratio 2.45
Sharpe Ratio -0.16
Information Ratio 1.59
Alpha Ratio -0.8
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 16₹9,670
31 Mar 17₹13,372
31 Mar 18₹15,531
31 Mar 19₹17,502

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 ₹518,033.
Net Profit of ₹218,033
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 16 Apr 19

DurationReturns
1 Month 2.7%
3 Month 7.3%
6 Month 11%
1 Year 9.5%
3 Year 21.7%
5 Year
Since launch 19.2%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2018 -2.3%
2017 47.9%
2016 14.8%
2015
2014
2013
2012
2011
2010
2009
Fund Manager information for Mirae Asset Tax Saver Fund
NameSinceTenure
Neelesh Surana28 Dec 153.1 Yr.

Data below for Mirae Asset Tax Saver Fund as on 28 Feb 19

Equity Sector Allocation
SectorValue
Financial Services30.9%
Consumer Cyclical12.92%
Technology9.65%
Industrials8.69%
Consumer Defensive7.52%
Basic Materials7.14%
Health Care6.23%
Energy5.96%
Utility2.52%
Asset Allocation
Asset ClassValue
Cash8.47%
Equity91.53%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | HDFCBANK
8%₹143 Cr615,318
↑ 32,413
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | ICICIBANK
5%₹97 Cr2,423,566
↑ 354,398
Reliance Industries Ltd (Energy)
Equity, Since 31 Dec 15 | RELIANCE
5%₹88 Cr647,376
Net Receivables / (Payables)
Net Current Assets | -
4%₹78 Cr
Axis Bank Ltd (Financial Services)
Equity, Since 31 Jan 18 | 532215
4%₹78 Cr1,001,193
Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Aug 16 | LT
4%₹68 Cr489,055
↑ 223,514
Tri Party Repo
CBLO/Reverse Repo | -
4%₹67 Cr
Infosys Ltd (Technology)
Equity, Since 31 Dec 15 | INFY
3%₹59 Cr799,780
↑ 226,091
Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Dec 15 | TCS
3%₹57 Cr286,820
↑ 20,035
State Bank of India (Financial Services)
Equity, Since 31 Dec 15 | SBIN
3%₹57 Cr1,776,357
↑ 100,000

4. 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 18.4% since its launch.  Ranked 3 in ELSS category.  Return for 2018 was -9.4% , 2017 was 53.4% and 2016 was 0.4% .

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

IDFC Tax Advantage (ELSS) Fund
Growth
Launch Date 26 Dec 08
NAV (16 Apr 19) ₹56.91 ↑ 0.25   (0.44 %)
Net Assets (Cr) ₹1,741 on 28 Feb 19
Category Equity - ELSS
AMC IDFC Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.74
Sharpe Ratio -0.96
Information Ratio -0.07
Alpha Ratio -12.71
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Mar 14₹10,000
31 Mar 15₹15,445
31 Mar 16₹13,889
31 Mar 17₹17,705
31 Mar 18₹21,674
31 Mar 19₹21,875

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 ₹470,047.
Net Profit of ₹170,047
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 16 Apr 19

DurationReturns
1 Month 2.1%
3 Month 7.1%
6 Month 8%
1 Year -4%
3 Year 15.7%
5 Year 17%
Since launch 18.4%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2018 -9.4%
2017 53.4%
2016 0.4%
2015 6.9%
2014 42.2%
2013 15%
2012 36.2%
2011 -23.3%
2010 24%
2009 70.8%
Fund Manager information for IDFC Tax Advantage (ELSS) Fund
NameSinceTenure
Daylynn Pinto20 Oct 162.28 Yr.

Data below for IDFC Tax Advantage (ELSS) Fund as on 28 Feb 19

Equity Sector Allocation
SectorValue
Financial Services27.53%
Consumer Cyclical15.25%
Basic Materials11.55%
Industrials10.1%
Technology8.39%
Health Care6.34%
Energy6.05%
Consumer Defensive3.51%
Utility3.4%
Asset Allocation
Asset ClassValue
Cash6.87%
Equity92.72%
Other0.4%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Triparty Repo
CBLO/Reverse Repo | -
6%₹126 Cr
ICICI Bank Ltd (Financial Services)
Equity, Since 31 May 16 | ICICIBANK
6%₹124 Cr3,100,000
↑ 100,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Sep 14 | HDFCBANK
4%₹81 Cr350,000
State Bank of India (Financial Services)
Equity, Since 31 Oct 18 | SBIN
4%₹80 Cr2,500,000
↑ 100,000
Reliance Industries Ltd (Energy)
Equity, Since 31 Jul 18 | RELIANCE
4%₹75 Cr550,000
Axis Bank Ltd (Financial Services)
Equity, Since 28 Feb 18 | 532215
4%₹72 Cr925,000
↑ 25,000
Infosys Ltd (Technology)
Equity, Since 31 Jul 15 | INFY
3%₹67 Cr900,000
↓ -50,000
RBL Bank Ltd (Financial Services)
Equity, Since 31 Aug 16 | RBLBANK
3%₹54 Cr800,000
Future Retail Ltd (Consumer Cyclical)
Equity, Since 31 Aug 16 | FRETAIL
3%₹52 Cr1,140,000
↑ 98,246
Nestle India Ltd (Consumer Defensive)
Equity, Since 28 Feb 18 | NESTLEIND
2%₹37 Cr34,000
↑ 4,000

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.
How helpful was this page ?
Rated 5, based on 3 reviews.
POST A COMMENT