An Equity Linked Savings Scheme(ELSS) is an open-ended equity mutual fund that gives you the opportunity to grow money and save the tax simultaneously. It is the best tax-saving mutual fund that has qualified for tax exemptions under
section 80C of the Indian Income Tax Act.
Top 10 best Tax Saving ELSS Mutual funds 2018-19
The ELSS are the equity diversified funds where investors have the benefits of capital appreciation as well as tax saving. ELSS provides the investment in equity markets and can give better long-term returns.
Some of the best Tax Saving ELSS funds based on the Net Assets(Rs. Crore) and the Return in 5 years are listed below-
1. Axis Long Term Equity Fund – This ELSS fund invests in both large caps and selected mid caps. The fund has a 3 year lock-in period that is quiet less than other ELSS funds. The Net Assets have been- 18,262 and Return of- 23.54%
2. Franklin India Tax Shield Fund – It aims to provide long-term capital appreciation by maintaining a diversified portfolio across different sizes and sectors with income tax rebate. Net assets- 3,736 and Return rate- 18.78%
3. DSP Tax Saver Fund – This fund generates long to medium term capital Appreciation from a portfolio constituted of equity and equity related securities. It also enables the investors avail the deduction from total income. The Net Assets last marked- 4,577 and Return rate- 19.98%
4. Reliance Tax Saver – Reliance Tax Saver is an open-ended equity fund that provides the investment benefits to the people of every age group. Under this scheme, even the senior citizens are exempted from Taxation
policies. Net Assets have been- 10,083 and Return- 21.62%
5. ICICI Pru Long Term Equity – The scheme provides a long-term capital income by investing approximately 90 percent in equity instruments. The remaining 10 percent is parked in debt and money market instrument. The fund has raised a Net Asset of- 5,522 and Return of- 19.47%
6. Aditya Birla Sun Life Tax Relief ’96 – This open-ended equity linked savings scheme seeks for the growth of income through a portfolio targetted with 80% equity and 20% debt and money market securities. Net
Assets- 6,569 and Return rate- 22.82%
7. Invesco India Tax Plan – The scheme tends to attain the capital growth by investing across market capitalisation sectors. It is an open-ended ELSS equity fund. Net Assets- 628 and Return- 21.70%
8. Principal Tax Savings Fund – The Principal Tax Savings fund tends to
obtain a high quality growth oriented portfolios. The investment is primarily made in equities and the returns are provided through capital appreciation. Net Assets- 396 and Return rate- 20.98%
9. Tata India Tax Saving – It is an open-ended ELSS with a lock-in period of 3 years mandatory. It provides the advantage of tax benefit and also the opportunity to have a long term upside potential of the equity market. Since 5 years, the Net Assets have been- 1,569 and Return rates have been- 19.62%
10. IDFC Tax Advantage – This fund provides the income growth by investment in diversified portfolios of equity and equity related securities of companies with strong fundamentals. Net Assets- 1,635 and Return-
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