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Best Tax Saving Mutual Funds Plans FY 21 - 22

Updated on January 15, 2021 , 1135 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 ₹90.59
↓ -1.32
₹1,33322.439.830.214.216.327.420.3
ICICI Prudential Long Term Equity Fund (Tax Saving) Growth ₹467.74
↓ -5.64
₹7,27730.537.716.58.612.613.619.7
Mirae Asset Tax Saver Fund Growth ₹24.179
↓ -0.22
₹5,04425.840.923.911.420.421.519.1
BOI AXA Tax Advantage Fund Growth ₹75.01
↓ -0.87
₹35121.841.632.97.716.831.218.5
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 15 Jan 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 20.3% 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 (15 Jan 21) ₹90.59 ↓ -1.32   (-1.44 %)
Net Assets (Cr) ₹1,333 on 30 Nov 20
Category Equity - ELSS
AMC Canara Robeco Asset Management Co. Ltd.
Rating
Risk Moderately High
Expense Ratio 2.32
Sharpe Ratio 0.6
Information Ratio 0.49
Alpha Ratio 9.5
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Dec 15₹10,000
31 Dec 16₹9,996
31 Dec 17₹13,191
31 Dec 18₹13,544
31 Dec 19₹14,999
31 Dec 20₹19,102

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 15 Jan 21

DurationReturns
1 Month 8.2%
3 Month 22.4%
6 Month 39.8%
1 Year 30.2%
3 Year 14.2%
5 Year 16.3%
Since launch 20.3%
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 191.25 Yr.
Cheenu Gupta12 Mar 182.81 Yr.

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

Equity Sector Allocation
SectorValue
Financial Services32.65%
Technology21.24%
Basic Materials10.6%
Consumer Cyclical10.18%
Industrials9.54%
Health Care5.24%
Energy2.95%
Communication Services2.79%
Consumer Defensive1.99%
Asset Allocation
Asset ClassValue
Cash2.82%
Equity97.18%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Infosys Ltd (Technology)
Equity, Since 31 Jul 18 | INFY
9%₹135 Cr1,074,500
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK
9%₹127 Cr2,381,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK
7%₹99 Cr692,184
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 19 | 500034
4%₹60 Cr112,450
↓ -6,700
Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Dec 20 | LT
3%₹48 Cr375,000
↑ 375,000
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 19 | RELIANCE
3%₹44 Cr219,500
↓ -25,000
State Bank of India (Financial Services)
Equity, Since 30 Nov 20 | SBIN
3%₹43 Cr1,550,000
↑ 200,000
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 30 Nov 20 | HDFC
3%₹42 Cr165,000
↑ 65,000
Asian Paints Ltd (Basic Materials)
Equity, Since 30 Sep 20 | 500820
3%₹37 Cr135,200
↓ -74,800
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Jun 20 | TCS
3%₹37 Cr130,000
↓ -50,000

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 19.7% 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 (15 Jan 21) ₹467.74 ↓ -5.64   (-1.19 %)
Net Assets (Cr) ₹7,277 on 30 Nov 20
Category Equity - ELSS
AMC ICICI Prudential Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.01
Sharpe Ratio 0.21
Information Ratio -0.18
Alpha Ratio -4.01
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Dec 15₹10,000
31 Dec 16₹10,392
31 Dec 17₹13,094
31 Dec 18₹13,160
31 Dec 19₹14,320
31 Dec 20₹16,268

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 15 Jan 21

DurationReturns
1 Month 7.8%
3 Month 30.5%
6 Month 37.7%
1 Year 16.5%
3 Year 8.6%
5 Year 12.6%
Since launch 19.7%
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 173.55 Yr.
Harish Bihani5 Nov 182.16 Yr.

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

Equity Sector Allocation
SectorValue
Financial Services29.99%
Technology15.63%
Consumer Defensive9.72%
Communication Services7.42%
Industrials6.76%
Health Care6.73%
Utility6.27%
Energy5.86%
Basic Materials5.35%
Consumer Cyclical3.88%
Real Estate0.67%
Asset Allocation
Asset ClassValue
Cash1.7%
Equity98.3%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 17 | HDFCBANK
7%₹544 Cr3,789,252
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | ICICIBANK
7%₹513 Cr9,593,900
Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 17 | BHARTIARTL
6%₹501 Cr9,822,396
↓ -63,086
Infosys Ltd (Technology)
Equity, Since 30 Jun 16 | INFY
6%₹484 Cr3,856,651
↑ 273,120
NTPC Ltd (Utilities)
Equity, Since 31 Jul 17 | 532555
4%₹294 Cr29,614,644
↓ -5,185,072
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Aug 20 | HDFC
4%₹279 Cr1,089,047
HCL Technologies Ltd (Technology)
Equity, Since 31 May 19 | HCLTECH
3%₹245 Cr2,587,282
↑ 1,383,474
Reliance Industries Ltd (Energy)
Equity, Since 31 May 20 | RELIANCE
3%₹243 Cr1,222,205
Hindalco Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | HINDALCO
3%₹211 Cr8,779,419
↓ -304,902
ITC Ltd (Consumer Defensive)
Equity, Since 31 Jul 17 | ITC
3%₹203 Cr9,716,954
↓ -300,000

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 19.1% 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 (15 Jan 21) ₹24.179 ↓ -0.22   (-0.92 %)
Net Assets (Cr) ₹5,044 on 30 Nov 20
Category Equity - ELSS
AMC Mirae Asset Global Inv (India) Pvt. Ltd
Rating Not Rated
Risk Moderately High
Expense Ratio 1.63
Sharpe Ratio 0.44
Information Ratio 0.69
Alpha Ratio 5.12
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Dec 15₹10,000
31 Dec 16₹11,480
31 Dec 17₹16,977
31 Dec 18₹16,591
31 Dec 19₹18,925
31 Dec 20₹23,001

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 15 Jan 21

DurationReturns
1 Month 7.4%
3 Month 25.8%
6 Month 40.9%
1 Year 23.9%
3 Year 11.4%
5 Year 20.4%
Since launch 19.1%
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 155.01 Yr.

Data below for Mirae Asset Tax Saver Fund as on 30 Nov 20

Equity Sector Allocation
SectorValue
Financial Services38.7%
Technology11.23%
Consumer Defensive8.57%
Basic Materials8.04%
Health Care7.52%
Consumer Cyclical6.43%
Industrials5.42%
Energy4.68%
Communication Services3.5%
Utility1.66%
Asset Allocation
Asset ClassValue
Cash0.97%
Equity99.02%
Other0.01%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | HDFCBANK
10%₹533 Cr3,710,722
↑ 80,000
Infosys Ltd (Technology)
Equity, Since 31 Dec 15 | INFY
7%₹390 Cr3,106,693
↓ -10,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | ICICIBANK
7%₹381 Cr7,123,912
↑ 187,500
Axis Bank Ltd (Financial Services)
Equity, Since 31 Jan 18 | 532215
5%₹258 Cr4,166,266
↑ 445,000
Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Dec 15 | TCS
4%₹220 Cr768,179
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 May 20 | BHARTIARTL
3%₹191 Cr3,748,000
Reliance Industries Limited
Equity, Since 30 Jun 20 | -
3%₹180 Cr1,610,338
Dr Reddy's Laboratories Ltd (Healthcare)
Equity, Since 28 Feb 19 | 500124
3%₹155 Cr298,090
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 30 Apr 17 | HDFC
3%₹155 Cr606,263
Max Financial Services Ltd (Financial Services)
Equity, Since 31 Mar 18 | 500271
3%₹145 Cr2,151,203

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 (15 Jan 21) ₹75.01 ↓ -0.87   (-1.15 %)
Net Assets (Cr) ₹351 on 30 Nov 20
Category Equity - ELSS
AMC BOI AXA Investment Mngrs Private Ltd
Rating
Risk Moderately High
Expense Ratio 2.67
Sharpe Ratio 0.76
Information Ratio 0.04
Alpha Ratio 13.11
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Dec 15₹10,000
31 Dec 16₹9,876
31 Dec 17₹15,571
31 Dec 18₹13,026
31 Dec 19₹14,929
31 Dec 20₹19,586

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 ₹458,689.
Net Profit of ₹158,689
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 15 Jan 21

DurationReturns
1 Month 6.6%
3 Month 21.8%
6 Month 41.6%
1 Year 32.9%
3 Year 7.7%
5 Year 16.8%
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 191.47 Yr.

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

Equity Sector Allocation
SectorValue
Financial Services26.76%
Basic Materials17.76%
Technology14.68%
Health Care13.92%
Consumer Cyclical9.4%
Energy4.97%
Industrials4.29%
Consumer Defensive3.2%
Communication Services2.42%
Asset Allocation
Asset ClassValue
Cash2.07%
Equity97.93%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK
7%₹25 Cr172,460
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE
5%₹19 Cr93,975
↑ 879
Infosys Ltd (Technology)
Equity, Since 30 Jun 20 | INFY
4%₹16 Cr124,274
↑ 7,367
PI Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | PIIND
4%₹15 Cr66,804
↓ -1,518
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK
4%₹14 Cr260,895
↓ -14,164
Divi's Laboratories Ltd (Healthcare)
Equity, Since 30 Sep 18 | DIVISLAB
4%₹13 Cr34,619
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 30 Sep 18 | KOTAKBANK
3%₹12 Cr62,062
↓ -9,806
SRF Ltd (Basic Materials)
Equity, Since 30 Sep 19 | SRF
3%₹10 Cr18,641
↓ -333
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 May 19 | HDFC
3%₹10 Cr39,634
Navin Fluorine International Ltd (Basic Materials)
Equity, Since 31 Jul 19 | 532504
3%₹10 Cr37,433

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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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