Mutual Funds are very popular nowadays and Tax Saving Funds are one of them. These are also called ELSS funds. Investing in a Mutual Fund is the best solution to invest the money for getting high returns. The best benefits of Mutual funds are that these give high returns compared to other traditional modes.
What Are The Tax Saving Mutual Funds?
Tax Saving Mutual funds are the same funds as other funds. But the difference is that these funds allow you to save some money from the 80C act of the Indian government. Most of the Tax Saving funds are ELSS schemes and make investment in the growth investment market.
An Equity Linked Saving Schemes(ELSS) is an open-ended equity mutual fund that invests primary in equities and equity related products. They are special category among mutual funds that qualify for tax deductions under section 80C of the income Tax Act, 1961.
Benefits of Tax Saving MF?
There are no much more differences between the Tax saving and other funds. But there are some Tax benefits under the rule of the Indian government act 80C.
An ELLS is an Equity linked saving scheme, that allows an individual or HUF a deduction from total income of up to Rs. 1,50,000/- under Sex 80C of Income Tac act 1961. If an investor was to invest Rs. 50,000/- in an ELSS scheme, then this amount would be deducted from the total taxable income, thus reducing her tax burden.
- An investor who is looking to invest for at least 3 years,
- Who want benefits for income text apart from getting high return,
- Short and Long term capital gains,
High Return ELSS Funds
Annualised Historical Return Table Of Tax Saving Mutual Funds.
In the following table, the annualised return is shown and this is collected data which varies according to the returns. You can directly invest into Tax Saving Mutual Funds by clicking on the particular funds.
| Scheme Name
| Crisil Rank
| AuM (Cr)
| 1W
| 1M
| 3M
| 6M
| YTD
| 1Y
| 2Y
| 3Y
| 5Y
| 10Y
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP Tax Saver Fund – Direct Plan – GrowthELSS | 3 | 9,635.58 | -0.42% | -1.22% | -2.08% | 4.53% | 1.46% | 27.46% | 25.14% | 23.30% | 16.75% | – |
| Quant Tax Plan – Direct Plan – GrowthELSS | 5 | 658.11 | 2.12% | 0.68% | 3.04% | 9.78% | 3.24% | 57.86% | 57.40% | 38.96% | 25.84% | – |
| IDFC Tax Advantage (ELSS) Fund – Direct Plan – GrowthELSS | 5 | 3,532.70 | 0.63% | -0.36% | 1.14% | 11.30% | 1.78% | 38.20% | 33.07% | 25.06% | 19.41% | – |
| BOI AXA Tax Advantage Fund – Direct Plan – GrowthELSS | 5 | 552.46 | -0.64% | -6.19% | -3.59% | 2.20% | -5.05% | 29.54% | 29.79% | 28.64% | 20.63% | – |
| Baroda ELSS – 96 – Plan B (Direct) – GrowthELSS | 4 | 216.70 | 0.33% | -3.94% | -2.56% | 9.55% | -2.49% | 29.46% | 25.35% | 19.86% | 13.69% | – |
| Union Long Term Equity Fund – Direct Plan – GrowthELSS | 4 | 464.37 | -0.14% | -4.26% | -4.00% | 6.60% | -2.62% | 25.01% | 25.80% | 21.43% | 15.69% | – |
| Mahindra Manulife ELSS Kar Bachat Yojana – Direct Plan – GrowthELSS | 4 | 429.44 | -0.20% | -3.21% | -1.59% | 7.75% | -0.79% | 30.64% | 26.86% | 20.68% | 14.03% | – |
| Mirae Asset Tax Saver Fund – Direct Plan – GrowthELSS | 4 | 10,660.11 | -0.35% | -3.32% | -2.83% | 6.08% | -0.96% | 24.79% | 28.78% | 24.56% | 21.16% | – |
| PGIM India ELSS Tax Saver Fund – Direct Plan – GrowthELSS | 4 | 342.34 | -0.42% | -1.47% | 2.43% | 9.79% | 1.36% | 30.74% | 29.23% | 22.19% | 17.96% | – |
| UTI Long Term Equity Fund (Tax Saving) – Direct Plan – GrowthELSS | 4 | 3,037.68 | -0.64% | -3.53% | -2.54% | 5.98% | -1.42% | 24.20% | 24.48% | 21.53% | 15.90% | – |
Sponsored AdvInvest Now L&T Tax Advantage Fund – Direct Plan – GrowthELSS |
3 | 3,574.93 | -0.48% | -5.30% | -1.37% | 4.30% | -3.36% | 21.21% | 18.72% | 16.34% | 12.90% | – |
| Canara Robeco Equity Tax Saver – Direct Plan – GrowthELSS | 4 | 3,098.27 | -0.71% | -3.52% | -2.83% | 6.88% | -1.81% | 22.20% | 27.86% | 23.87% | 19.74% | – |
| Aditya Birla Sun Life Tax Plan – Direct Plan – GrowthELSS | 4 | 433.24 | -1.05% | -3.37% | -4.62% | -0.44% | -2.32% | 5.61% | 10.72% | 10.31% | 11.28% | – |
| Kotak Tax Saver Scheme – Direct Plan – GrowthELSS | 3 | 2,417.76 | 0.78% | -1.37% | 1.37% | 8.29% | 1.21% | 28.34% | 22.92% | 21.83% | 16.67% | – |
| BNP Paribas Long Term Equity Fund – Direct Plan – GrowthELSS | 3 | 539.60 | 0.02% | -2.03% | -3.24% | 5.28% | 0.30% | 18.91% | 19.63% | 19.88% | 15.63% | – |
| Edelweiss Long Term Equity Fund (Tax Savings) – Direct Plan – GrowthELSS | 3 | 203.93 | -0.11% | -1.63% | -0.63% | 7.49% | 0.13% | 22.72% | 21.64% | 19.04% | 14.85% | – |
| Indiabulls Tax Savings Fund – Direct Plan – GrowthELSS | 3 | 48.30 | -0.21% | -2.20% | -3.19% | 5.95% | 0.14% | 17.18% | 17.60% | 15.19% | – | – |
| DSP Tax Saver Fund – Direct Plan – GrowthELSS | 3 | 9,635.58 | -0.42% | -1.22% | -2.08% | 4.53% | 1.46% | 27.46% | 25.14% | 23.30% | 16.75% | – |
| Sundaram Tax Saving Fund – Direct Plan – GrowthELSS | 3 | 933.92 | -0.45% | -1.31% | -1.68% | 9.85% | 1.35% | 23.85% | 25.93% | 18.94% | 15.34% | – |
| Invesco India Tax Plan – Direct Plan – GrowthELSS | 3 | 1,933.83 | -0.48% | -4.15% | -2.38% | 6.80% | -2.07% | 24.31% | 23.12% | 20.73% | 17.76% | – |
| L&T Tax Advantage Fund – Direct Plan – GrowthELSS | 3 | 3,574.93 | -0.48% | -5.30% | -1.37% | 4.30% | -3.36% | 21.21% | 18.72% | 16.34% | 12.90% | – |
| ICICI Prudential Long Term Equity Fund (Tax Saving) – Direct Plan – GrowthELSS | 3 | 9,964.64 | -0.57% | -2.81% | -3.50% | 6.80% | -0.73% | 24.01% | 23.07% | 19.53% | 15.25% | – |
| HSBC Tax Saver Equity Fund – Direct Plan – GrowthELSS | 3 | 200.27 | -0.61% | -2.73% | -1.79% | 9.11% | -0.25% | 24.66% | 21.40% | 19.57% | 13.97% | – |
| LIC MF Tax Plan – Direct Plan – GrowthELSS | 3 | 407.53 | -0.64% | -3.97% | -3.20% | 6.46% | -1.67% | 21.79% | 15.62% | 17.15% | 14.74% | – |
| Franklin India Taxshield Fund – Direct – GrowthELSS | 3 | 5,000.07 | -0.82% | -1.70% | -2.31% | 8.78% | 0.63% | 26.14% | 22.88% | 17.89% | 14.13% | – |
| JM Tax Gain Fund – (Direct) – GrowthELSS | 3 | 66.15 | -0.88% | -4.17% | -5.13% | 7.53% | -1.76% | 21.30% | 22.48% | 21.62% | 17.58% | – |
| SBI Long Term Equity Fund – Direct Plan – GrowthELSS | 3 | 10,911.91 | -1.48% | -2.56% | -3.60% | 5.46% | -0.76% | 20.89% | 23.13% | 17.88% | 13.45% | – |
| IDBI Equity Advantage Fund – Direct Plan – GrowthELSS | 2 | 528.14 | -0.19% | -2.71% | -2.06% | 7.72% | -0.12% | 20.91% | 16.59% | 15.65% | 13.89% | – |
| Motilal Oswal Long Term Equity Fund – Direct Plan – GrowthELSS | 2 | 2,350.81 | -0.28% | -2.24% | -2.02% | 3.88% | -0.49% | 24.90% | 18.53% | 19.86% | 15.23% | – |
| Axis Long Term Equity Fund – Direct Plan – GrowthELSS | 2 | 33,784.80 | -0.46% | -8.75% | -8.20% | 0.94% | -5.81% | 15.20% | 17.15% | 19.18% | 17.41% | – |
| Navi Long Term Advantage Fund – Direct Plan – GrowthELSS | 2 | 64.72 | -0.56% | -3.43% | -2.84% | 8.42% | -1.31% | 22.47% | 17.62% | 16.57% | 13.48% | – |
| Tata India Tax Savings Fund – Direct Plan – GrowthELSS | 2 | 2,986.48 | -0.66% | -1.83% | -1.79% | 8.81% | 0.15% | 20.26% | 21.41% | 19.43% | 16.23% | – |
| Quantum Tax Saving Fund – Direct Plan – GrowthELSS | 2 | 100.66 | -0.93% | -1.70% | -4.37% | 1.27% | 0.17% | 13.94% | 19.60% | 12.47% | 10.19% | 13.33% |
| HDFC Tax Saver Fund – Direct Plan – GrowthELSS | 2 | 9,401.69 | -1.02% | -2.95% | -2.02% | 8.49% | -1.43% | 24.21% | 19.82% | 14.67% | 10.82% | – |
| Taurus Taxshield – Direct Plan – GrowthELSS | 1 | 65.04 | 0.28% | -0.22% | -1.67% | 4.62% | 1.84% | 17.69% | 17.38% | 14.58% | 14.24% | – |
| Nippon India Tax Saver Fund – Direct Plan – GrowthELSS | 1 | 12,023.75 | -0.48% | -1.45% | -2.51% | 7.93% | 1.13% | 27.67% | 18.12% | 14.68% | 8.95% | – |
| Aditya Birla Sun Life Tax Relief 96 – Direct Plan – GrowthELSS | 1 | 14,462.79 | -0.96% | -3.53% | -4.67% | -0.16% | -2.42% | 6.45% | 11.87% | 11.36% | 12.13% | – |
| SBI Long Term Advantage Fund – Series III – Direct Plan – GrowthELSS | – | 64.30 | 2.82% | 1.40% | 9.70% | 19.61% | 3.14% | 45.56% | 38.76% | 29.85% | 19.29% | – |
| SBI Long Term Advantage Fund – Series I – Direct Plan – GrowthELSS | – | 39.59 | 2.69% | 1.14% | 9.11% | 19.11% | 2.91% | 44.78% | 37.25% | 28.69% | 17.72% | – |
| SBI Long Term Advantage Fund – Series II – Direct Plan – GrowthELSS | – | 33.71 | 2.64% | 1.01% | 8.38% | 18.07% | 2.80% | 43.66% | 38.21% | 29.49% | 18.54% | – |
| Sundaram Long Term Tax Advantage Fund – Series III – Direct Plan – GrowthELSS | – | 39.44 | 0.45% | -1.18% | 0.82% | 10.74% | -0.04% | 60.33% | 35.82% | 25.59% | – | – |
| SBI Long Term Advantage Fund – Series VI – Direct Plan – GrowthELSS | – | 268.40 | 0.42% | -3.54% | -1.69% | 7.09% | -0.60% | 26.15% | 24.41% | 23.13% | – | – |
| Sundaram Long Term Tax Advantage Fund – Series IV – Direct Plan – GrowthELSS | – | 24.85 | 0.36% | -1.51% | 0.75% | 11.35% | -0.24% | 58.41% | 35.75% | 25.34% | – | – |
| Sundaram Long Term Micro Cap Tax Advantage Fund – Series VI – Direct Plan – GrowthELSS | – | 40.52 | 0.10% | -1.29% | -0.52% | 8.50% | -0.21% | 68.58% | 39.87% | 25.54% | – | – |
| Parag Parikh Tax Saver Fund – Direct Plan – GrowthELSS | – | 375.27 | 0.00% | -1.49% | 1.45% | 10.91% | -0.42% | 30.84% | 31.78% | – | – | – |
| Sundaram Long Term Micro Cap Tax Advantage Fund – Series V – Direct Plan – GrowthELSS | – | 38.75 | -0.06% | -1.26% | -0.13% | 8.03% | -0.22% | 64.94% | 39.41% | 25.75% | – | – |
| Sundaram Long Term Micro Cap Tax Advantage Fund – Series III – Direct Plan – GrowthELSS | – | 80.76 | -0.09% | -1.32% | 0.21% | 8.71% | 0.13% | 61.63% | 38.12% | 24.66% | 11.78% | – |
| SBI Long Term Advantage Fund – Series IV – Direct Plan – GrowthELSS | – | 189.64 | -0.14% | -1.44% | -1.23% | 6.70% | 2.04% | 52.67% | 41.68% | 38.02% | – | – |
| Sundaram Long Term Micro Cap Tax Advantage Fund – Series IV – Direct Plan – GrowthELSS | – | 38.83 | -0.18% | -1.64% | 0.33% | 9.03% | -0.29% | 63.19% | 38.97% | 25.39% | – | – |
| ITI Long Term Equity Fund – Direct Plan – GrowthELSS | – | 109.28 | -0.27% | -2.25% | -7.25% | -4.58% | -1.47% | 10.93% | 15.44% | – | – | – |
| BOI AXA Midcap Tax Fund – Series 1 – Direct Plan – GrowthELSS | – | 77.58 | -0.28% | -6.50% | -0.90% | 4.18% | -4.79% | 37.67% | 32.91% | 29.58% | – | – |
| SBI Tax Advantage Fund – Series III – Direct Plan – GrowthELSS | – | 30.56 | -0.30% | -2.15% | -2.00% | 7.21% | 0.74% | 40.68% | 38.80% | 38.80% | 25.59% | – |
| Sundaram Long Term Tax Advantage Fund – Series I – Direct Plan – GrowthELSS | – | 17.79 | -0.34% | -1.19% | -2.16% | 6.30% | 0.55% | 22.22% | 21.92% | 18.21% | 13.52% | – |
| ICICI Prudential Long Term Wealth Enhancement Fund – Direct Plan – GrowthELSS | – | 35.17 | -0.36% | -0.42% | -3.13% | 9.55% | 2.63% | 20.10% | 16.34% | 16.89% | – | – |
| SBI Long Term Advantage Fund – Series V – Direct Plan – GrowthELSS | – | 344.02 | -0.38% | -3.76% | -1.47% | 8.79% | -1.01% | 25.06% | 21.82% | 20.60% | – | – |
| Sundaram Long Term Tax Advantage Fund – Series II – Direct Plan – GrowthELSS | – | 13.03 | -0.48% | -1.37% | -2.25% | 6.64% | 0.36% | 21.76% | 21.84% | 18.91% | 13.85% | – |
| Shriram Long Term Equity Fund – Direct Plan – GrowthELSS | – | 45.57 | -0.52% | -2.53% | -3.55% | 7.22% | 0.18% | 16.53% | 18.43% | 17.55% | – | – |
| BOI AXA Midcap Tax Fund – Series 2 – Direct Plan – GrowthELSS | – | 52.00 | -0.57% | -5.77% | -2.04% | 1.98% | -4.31% | 34.22% | 28.94% | 26.73% | – | – |
| Sundaram Tax Saving Fund – Direct Plan – Growth (Adjusted NAV)ELSS | – | 933.92 | – | – | – | – | – | – | – | – | – | – |
Things that An Investor Should Think Before Investing In The Tax Saving Mutual Funds
Following are some factors that should be considered before investing in any Tax Saving Mutual Funds.
Lock-In Period
The ELSS fund has a 3 years lock-in period. There is no provision to make premature withdrawals. The investor has to wait for 3 year.
RISK Factor
Since Tax Mutual Funds are equity-oriented, they are naturally influenced by the market movements. These funds carry all the risks that an equity fund possesses. So, The Investor must be willing to assume these risks before investing.
These schemes have a lock in period of 3 years from the date of units allotment. After the lock-in period is completed, The investor can redeem , switch to both growth and dividend options.
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