We analyzed the Top 10 Tax Saving Mutual funds for Investment in 2023-24, Ranked by Last 5 Years Returns @ 28% p.a. & More …
With dual advantage of tax-saving & potential for better returns than traditional tax-saving investment products, this category of mutual fund schemes is must have for every investor. These funds also have the lowest lock-in period of just 3 years amongst all the options available in Section 80C.
- Investment up to Rs.1,50,000 every year is eligible for tax deduction under Section 80C of The Income Tax Act
- Starting a monthly SIP for long-term gets you a lifetime guaranteed tax-savings (subject to Rs.1.5 lakh annual limit & no changes in Tax Laws)
- Potential for better long-term returns than traditional options like PPF & Fixed Deposits
- Quant Tax Plan Direct – Growth
- Mirae Asset Tax Saver Fund Direct-Growth
- Canara Robeco Equity Tax Saver Direct- Growth
- Kotak Tax Saver Fund Direct-Growth
- DSP Tax Saver Direct Plan-Growth
- Tata India Tax Savings Fund Direct-Growth
- ICICI Prudential Long Term Equity Fund (Tax Saving) Direct Plan – Growth
- Motilal Oswal Long Term Equity Fund Direct-Growth
- UTI Long Term Equity Fund Direct-Growth
- Baroda BNP Paribas ELSS Direct-Growth
Table of Contents
1. Quant Tax Plan Direct – Growth
- # 1 in ELSS
- Return : +28.01 % p.a.
- Age : 10+ Years
- Since launch, it has delivered 20.07% average annual returns.
- The fund has doubled the money invested in it every 3 yrs.
- The fund’s top 5 holdings are in State Bank of India, ITC Ltd., Ambuja Cements Ltd., Reliance Industries Ltd., Adani Ports and Special Economic Zone Ltd.
Link :
https://www.etmoney.com/mutual-funds/quant-tax-plan-direct-growth/16940
2. Mirae Asset Tax Saver Fund Direct-Growth
- # 7 in ELSS
- Return : +17.23 % a.
- Age : 7+ Years
- Since launch, it has delivered 18.68% average annual returns.
- The fund has doubled the money invested in it every 3 yrs.
- The fund’s top 5 holdings are in HDFC Bank Ltd., ICICI Bank Ltd., Reliance Industries Ltd., Infosys Ltd., Axis Bank Ltd..
Link : https://www.etmoney.com/mutual-funds/mirae-asset-tax-saver-fund-direct-growth/30817
3. Canara Robeco Equity Tax Saver Direct- Growth
- # 3 in ELSS
- Return : +16.96 % a.
- Age : 10+ Years
- Since launch, it has delivered 15.02% average annual returns..
- The fund has doubled the money invested in it every 3 yrs.
- The fund’s top 5 holdings are in HDFC Bank Ltd., ICICI Bank Ltd., Infosys Ltd., State Bank of India, Reliance Industries Ltd..
Link: https://www.etmoney.com/mutual-funds/canara-robeco-equity-tax-saver-direct-growth/16157
4. Kotak Tax Saver Fund Direct-Growth
- # 6 in ELSS
- Return : +16.81 % a.
- Age : 10+ Years
- Since launch, it has delivered 15.03% average annual returns.
- The fund has doubled the money invested in it every 3 yrs.
- The fund’s top 5 holdings are in ICICI Bank Ltd., State Bank of India, Axis Bank Ltd., Reliance Industries Ltd., Infosys Ltd..
Link: https://www.etmoney.com/mutual-funds/kotak-tax-saver-fund-direct-growth/15947
5. DSP Tax Saver Direct Plan-Growth
- # 7 in ELSS
- Return : +16.54 % a.
- Age : 10+ Years
- Since launch, it has delivered 16.35% average annual returns.
- The fund has doubled the money invested in it every 3 yrs.
- The fund’s top 5 holdings are in HDFC Bank Ltd., ICICI Bank Ltd., Infosys Ltd., State Bank of India, Axis Bank Ltd..
Link: https://www.etmoney.com/mutual-funds/dsp-tax-saver-direct-plan-growth/16017
6. Tata India Tax Savings Fund Direct-Growth
- # 10 in ELSS
- Return : +15.37 % a.
- Age : 8+ Years
- Since launch, it has delivered 16.32% average annual returns.
- The fund has doubled the money invested in it every 3 yrs.
- The fund’s top 5 holdings are in HDFC Bank Ltd., ICICI Bank Ltd., Infosys Ltd., Reliance Industries Ltd., State Bank of India.
Link: https://www.etmoney.com/mutual-funds/tata-india-tax-savings-fund-direct-growth/28005
7. ICICI Prudential Long Term Equity Fund (Tax Saving) Direct Plan – Growth
- # 12 in ELSS
- Return : +14.33 % a.
- Age : 10+ Years
- Since launch, it has delivered 14.74% average annual returns.
- The fund has doubled the money invested in it every 3 yrs.
- The fund’s top 5 holdings are in ICICI Bank Ltd., Infosys Ltd., Axis Bank Ltd., Bharti Airtel Ltd., HDFC Bank Ltd.
8. Motilal Oswal Long Term Equity Fund Direct-Growth
- # 21 in ELSS
- Return : +13.78 % a.
- Age : 8+ Years
- Since launch, it has delivered 14.49% average annual returns.
- The fund has doubled the money invested in it every 3 yrs.
- The fund’s top 5 holdings are in Axis Bank Ltd., Housing Development Finance Corporation Ltd., ICICI Bank Ltd., Ultratech Cement Ltd., Global Health Ltd..
Link: https://www.etmoney.com/mutual-funds/motilal-oswal-long-term-equity-fund-direct-growth/28672
9. UTI Long Term Equity Fund Direct-Growth
- # 18 in ELSS
- Return : +13.66 % a.
- Age : 10+ Years
- Since launch, it has delivered 13.36% average annual returns.
- The fund has doubled the money invested in it every 3 yrs.
- The fund’s top 5 holdings are in ICICI Bank Ltd., HDFC Bank Ltd., Infosys Ltd., Axis Bank Ltd., Bharti Airtel Ltd..
Link: https://www.etmoney.com/mutual-funds/uti-long-term-equity-fund-direct-growth/15290
10. Baroda BNP Paribas ELSS Direct-Growth
- # 16 in ELSS
- Return : +11.89 % a.
- Age : 10+ Years
- Since launch, it has delivered 13.73% average annual returns.
- The fund has doubled the money invested in it every 6 yrs.
- The fund’s top 5 holdings are in HDFC Bank Ltd., ICICI Bank Ltd., Infosys Ltd., State Bank of India, Reliance Industries Ltd.
Link: https://www.etmoney.com/mutual-funds/baroda-bnp-paribas-elss-direct-growth/15299
Disclaimer :
This Video & Information is only for Education purpose. Please check the source link given in description to get more details about the Mutual Fund before you invest.
Click for more details (Source Link ): https://www.etmoney.com/mutual-funds/featured/top-tax-saving-mutual-funds/8
