Tax Saving ELSS Mutual Funds List (March 2023): With March 31 being the last date to make a tax-saving investment for the financial year 2022-23, several taxpayers are looking for top tax-saving mutual fund options. With ELSS investing, taxpayers can claim a deduction of up to Rs 1.5 lakh in a year. In the last five years, several ELSS funds have given double-digit returns.
Following is a list of top-performing tax-saving ELSS funds with over 12% returns in the last five years, as per data on AMFI website as on March 3, 2023.
Quant Tax Plan
The direct plan of Quant Tax Plan has given a return of 21.73% in 5 years while the regular plan of the scheme has given a return of 19.89%. The scheme tracks NIFTY 500 Total Return Index.
Mirae Asset Tax Saver Fund
The direct plan of Mirae Asset Tax Saver Fund has given a return of 15.02% in 5 years while the regular plan of the scheme has given a return of 13.44%. The scheme tracks NIFTY 500 Total Return Index.
Canara Robeco Equity Tax Saver Fund
The direct plan of Canara Robeco Equity Tax Saver Fund has given a return of 15.38% in 5 years while the regular plan of the scheme has given a return of 14.13%. The scheme tracks S&P BSE 500 Total Return Index.
Kotak Tax Saver Fund
The direct plan of Kotak Tax Saver Fund has given a return of 14.31% in 5 years while the regular plan of the scheme has given a return of 12.88%. The scheme tracks NIFTY 500 Total Return Index.
PGIM India ELSS Tax Saver Fund
The direct plan of PGIM India ELSS Tax Saver Fund has given a return of 13.59% in 5 years while the regular plan of the scheme has given a return of 11.92%. The scheme tracks NIFTY 500 Total Return Index.
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Bank of India Tax Advantage Fund
The direct plan of Bank of India Tax Advantage Fund has given a return of 13.37% in 5 years while the regular plan of the scheme has given a return of 12.10%. The scheme tracks S&P BSE 500 Total Return Index.
DSP Tax Saver Fund
The direct plan of DSP Tax Saver Fund has given a return of 13.32% in 5 years while the regular plan of the scheme has given a return of 12.32%. The scheme tracks NIFTY 500 Total Return Index.
Union Long Term Equity
The direct plan of Union Long Term Equity fund has given a return of 12.77% in 5 years while the regular plan of the scheme has given a return of 12.09%. The scheme tracks S&P BSE 500 Total Return Index.
JM Tax Gain Fund
The direct plan of JM Tax Gain Fund has given a return of 12.04% in 5 years while the regular plan of the scheme has given a return of 12.05%. The scheme tracks S&P BSE 500 Total Return Index.
IDFC Tax Advantage (ELSS) Fund
The direct plan of IDFC Tax Advantage (ELSS) Fund has given a return of 12.60% in 5 years while the regular plan of the scheme has given a return of 11.28%. The scheme tracks S&P BSE 500 Total Return Index.
Tata India Tax Savings Fund
The direct plan of Tata India Tax Savings Fund has given a return of 12% in 5 years while the regular plan of the scheme has given a return of 10.49%. The scheme tracks NIFTY 500 Total Return Index.
(Disclaimer: The above content is for information purposes only, based on AMFI website data as of March 3, 2023. Mutual fund investments are subject to market risks with no assurance of guarantee that a fund will repeat its past performance in future. Therefore, please consult a financial advisor before investing)
