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Best Tax Saving Mutual Funds Plans FY 20 - 21

Updated on October 17, 2020 , 770 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 (%)
Canara Robeco Equity Tax Saver Growth ₹74.81
↑ 0.21
₹1,18112.326.112.69.61010.718.8
ICICI Prudential Long Term Equity Fund (Tax Saving) Growth ₹366.3
↑ 3.95
₹6,3285.619-1.13.76.18.818.5
BOI AXA Tax Advantage Fund Growth ₹62.42
↑ 0.46
₹30915.228.217.55.810.114.617
Axis Long Term Equity Fund Growth ₹47.6212
↑ 0.27
₹21,8367.716.9-0.86.28.914.815.5
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 19 Oct 20
*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 18.8% 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 (19 Oct 20) ₹74.81 ↑ 0.21   (0.28 %)
Net Assets (Cr) ₹1,181 on 30 Sep 20
Category Equity - ELSS
AMC Canara Robeco Asset Management Co. Ltd.
Rating
Risk Moderately High
Expense Ratio 2.32
Sharpe Ratio 0.33
Information Ratio 0.64
Alpha Ratio 9.66
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Sep 15₹10,000
30 Sep 16₹10,903
30 Sep 17₹12,345
30 Sep 18₹13,510
30 Sep 19₹14,593
30 Sep 20₹16,136

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 ₹395,578.
Net Profit of ₹95,578
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 19 Oct 20

DurationReturns
1 Month 1.9%
3 Month 12.3%
6 Month 26.1%
1 Year 12.6%
3 Year 9.6%
5 Year 10%
Since launch 18.8%
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 191 Yr.
Cheenu Gupta12 Mar 182.56 Yr.

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

Equity Sector Allocation
SectorValue
Technology24.05%
Financial Services21.96%
Basic Materials11.71%
Consumer Cyclical9.61%
Energy8.95%
Health Care8.38%
Industrials6.64%
Consumer Defensive4.14%
Communication Services0.89%
Asset Allocation
Asset ClassValue
Cash2.65%
Equity97.35%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Infosys Ltd (Technology)
Equity, Since 31 Jul 18 | INFY
9%₹108 Cr1,074,500
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 19 | RELIANCE
9%₹106 Cr473,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK
6%₹67 Cr1,876,000
↑ 250,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK
5%₹59 Cr543,184
↓ -105,000
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Jun 20 | TCS
4%₹45 Cr180,000
↓ -48,000
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 19 | 500034
4%₹42 Cr126,650
↑ 7,500
Hindustan Unilever Ltd (Consumer Defensive)
Equity, Since 31 Oct 16 | 500696
3%₹35 Cr168,330
↓ -54,000
Divi's Laboratories Ltd (Healthcare)
Equity, Since 31 Dec 18 | DIVISLAB
3%₹34 Cr112,500
↓ -30,000
Voltas Ltd (Industrials)
Equity, Since 31 Jul 20 | VOLTAS
2%₹27 Cr395,000
↑ 80,000
HDFC Life Insurance Co Ltd (Financial Services)
Equity, Since 30 Apr 20 | 540777
2%₹26 Cr473,000

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 18.5% 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 (19 Oct 20) ₹366.3 ↑ 3.95   (1.09 %)
Net Assets (Cr) ₹6,328 on 30 Sep 20
Category Equity - ELSS
AMC ICICI Prudential Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.01
Sharpe Ratio -0.06
Information Ratio -0.22
Alpha Ratio -3.75
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Sep 15₹10,000
30 Sep 16₹11,337
30 Sep 17₹12,189
30 Sep 18₹13,509
30 Sep 19₹13,699
30 Sep 20₹13,318

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 ₹357,992.
Net Profit of ₹57,992
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 19 Oct 20

DurationReturns
1 Month -0.2%
3 Month 5.6%
6 Month 19%
1 Year -1.1%
3 Year 3.7%
5 Year 6.1%
Since launch 18.5%
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
Priyanka Khandelwal15 Jun 173.3 Yr.
Harish Bihani5 Nov 181.9 Yr.

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

Equity Sector Allocation
SectorValue
Financial Services27.61%
Technology13.39%
Health Care9.13%
Consumer Defensive8.71%
Utility8%
Communication Services7.96%
Basic Materials6.96%
Industrials6.74%
Energy6.36%
Consumer Cyclical3.68%
Real Estate0.47%
Asset Allocation
Asset ClassValue
Cash0.99%
Equity99.01%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 17 | BHARTIARTL
8%₹507 Cr9,885,482
↑ 1,177,213
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 17 | HDFCBANK
7%₹451 Cr4,039,135
↑ 51,065
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | ICICIBANK
6%₹420 Cr10,634,182
↑ 185,000
NTPC Ltd (Utilities)
Equity, Since 31 Jul 17 | 532555
5%₹335 Cr34,799,716
Infosys Ltd (Technology)
Equity, Since 30 Jun 16 | INFY
5%₹331 Cr3,563,502
↑ 228,377
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Aug 20 | HDFC
3%₹202 Cr1,104,750
↑ 1,104,750
ITC Ltd (Consumer Defensive)
Equity, Since 31 Jul 17 | ITC
3%₹199 Cr10,406,827
↓ -1,437,084
Axis Bank Ltd (Financial Services)
Equity, Since 30 Nov 18 | 532215
3%₹186 Cr3,745,521
↑ 443,226
Hindalco Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | HINDALCO
3%₹168 Cr9,084,321
↓ -4,462,191
Reliance Industries Ltd (Energy)
Equity, Since 31 May 20 | RELIANCE
2%₹158 Cr758,581

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 17% 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 (19 Oct 20) ₹62.42 ↑ 0.46   (0.74 %)
Net Assets (Cr) ₹309 on 30 Sep 20
Category Equity - ELSS
AMC BOI AXA Investment Mngrs Private Ltd
Rating
Risk Moderately High
Expense Ratio 2.67
Sharpe Ratio 0.5
Information Ratio 0.29
Alpha Ratio 12.77
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Sep 15₹10,000
30 Sep 16₹10,827
30 Sep 17₹13,180
30 Sep 18₹12,667
30 Sep 19₹13,783
30 Sep 20₹16,019

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 ₹395,578.
Net Profit of ₹95,578
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 19 Oct 20

DurationReturns
1 Month 0.6%
3 Month 15.2%
6 Month 28.2%
1 Year 17.5%
3 Year 5.8%
5 Year 10.1%
Since launch 17%
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 191.21 Yr.

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

Equity Sector Allocation
SectorValue
Financial Services23.78%
Basic Materials17.72%
Health Care17.52%
Technology12.09%
Consumer Cyclical7.84%
Energy6.12%
Industrials4.47%
Consumer Defensive3.33%
Communication Services2.28%
Utility0.54%
Asset Allocation
Asset ClassValue
Cash2.2%
Equity97.8%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE
6%₹19 Cr84,728
↓ -2,782
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK
6%₹18 Cr163,956
↓ -2,837
PI Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | PIIND
5%₹14 Cr71,295
Divi's Laboratories Ltd (Healthcare)
Equity, Since 30 Sep 18 | DIVISLAB
3%₹10 Cr33,163
↓ -2,102
Laurus Labs Ltd (Healthcare)
Equity, Since 30 Jun 20 | 540222
3%₹10 Cr336,025
↓ -76,660
Navin Fluorine International Ltd (Basic Materials)
Equity, Since 31 Jul 19 | 532504
3%₹9 Cr42,952
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 30 Sep 18 | KOTAKBANK
3%₹9 Cr72,782
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK
3%₹9 Cr257,696
↓ -8,252
Infosys Ltd (Technology)
Equity, Since 30 Jun 20 | INFY
3%₹9 Cr87,279
↑ 6,000
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 18 | 500034
2%₹7 Cr22,466
↑ 810

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 15.5% 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 (19 Oct 20) ₹47.6212 ↑ 0.27   (0.56 %)
Net Assets (Cr) ₹21,836 on 30 Sep 20
Category Equity - ELSS
AMC Axis Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 1.72
Sharpe Ratio -0.07
Information Ratio 0.18
Alpha Ratio -2.93
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
30 Sep 15₹10,000
30 Sep 16₹10,800
30 Sep 17₹12,640
30 Sep 18₹13,656
30 Sep 19₹15,310
30 Sep 20₹15,192

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 ₹376,357.
Net Profit of ₹76,357
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 19 Oct 20

DurationReturns
1 Month 1.3%
3 Month 7.7%
6 Month 16.9%
1 Year -0.8%
3 Year 6.2%
5 Year 8.9%
Since launch 15.5%
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 119.51 Yr.

Data below for Axis Long Term Equity Fund as on 30 Sep 20

Equity Sector Allocation
SectorValue
Financial Services32.96%
Consumer Cyclical13.93%
Consumer Defensive12.6%
Technology11.82%
Health Care7.87%
Basic Materials7.38%
Communication Services6.54%
Utility3.74%
Industrials1.72%
Asset Allocation
Asset ClassValue
Cash1.44%
Equity98.56%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Sep 16 | 500034
8%₹1,835 Cr5,597,442
↑ 106,000
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 17 | TCS
8%₹1,788 Cr7,173,985
↑ 600,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFCBANK
7%₹1,500 Cr13,905,723
↓ -415,000
Info Edge (India) Ltd (Communication Services)
Equity, Since 31 May 14 | NAUKRI
7%₹1,429 Cr3,930,404
↑ 79,000
Nestle India Ltd (Consumer Defensive)
Equity, Since 31 Aug 14 | NESTLEIND
6%₹1,412 Cr887,005
↑ 16,200
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 May 11 | KOTAKBANK
6%₹1,375 Cr10,845,282
↓ -647,354
Maruti Suzuki India Ltd (Consumer Cyclical)
Equity, Since 30 Nov 10 | MARUTI
6%₹1,288 Cr1,910,742
↓ -38,461
Avenue Supermarts Ltd (Consumer Defensive)
Equity, Since 30 Apr 17 | 540376
5%₹1,152 Cr5,227,586
↑ 408,000
Pidilite Industries Ltd (Basic Materials)
Equity, Since 30 Nov 14 | PIDILITIND
5%₹993 Cr6,920,272
Divi's Laboratories Ltd (Healthcare)
Equity, Since 30 Nov 17 | DIVISLAB
4%₹963 Cr3,160,574
↓ -217,000

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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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