(March 2023) Tax Saving ELSS Mutual Funds List The deadline to make a tax-saving investment for the fiscal year 2022–2023 is March 31.
List of Top Tax-Saving ELSS Mutual Funds (March 2023): As the deadline to make a tax-saving investment for the fiscal year 2022–2023 is March 31, many investors are seeking the best mutual funds that will help them save money on taxes. Taxpayers may deduct up to Rs 1.5 lakh annually for ELSS investments. Some ELSS funds have provided double-digit returns over the past five years.
According to information found on the AMFI website as of March 3, 2023, the list of top-performing tax-saving ELSS funds had above 12% returns over the last five years.
Quant Tax Policy
As a comparison to the ordinary plan of the scheme, the direct plan of Quant Tax Plan has produced a return over the course of five years of 21.73%. This program follows the NIFTY 500 Total Return Index.
Asset Tax Savings Fund for Mirae
In comparison to the standard plan of the scheme, Mirae Asset Tax Saver Fund’s direct plan has produced a return of 15.02% over a five-year period. This program follows the NIFTY 500 Total Return Index.
Equity Tax Savings Canara Robeco Fund
In comparison to the standard plan of the scheme, Canara Robeco Equity Tax Saver Fund’s direct plan has produced a return of 15.38% over the course of five years. The program follows the S&P BSE 500 Total Return Index.
Tax-saving Kotak Fund
In comparison to the regular plan of the scheme, the direct plan of Kotak Tax Saver Fund has produced a return of 14.31% over the course of five years. This program follows the NIFTY 500 Total Return Index.
India ELSS Tax Saver Fund by PGIM
In comparison to the regular plan of the scheme, the direct plan of the PGIM India ELSS Tax Saver Fund has produced a return of 13.59% over the course of five years. This program follows the NIFTY 500 Total Return Index.
The Indian Bank’s Tax Advantage Fund
In comparison to the normal plan of the scheme, the direct plan of the Bank of India Tax Advantage Fund has produced a return of 13.37% over the course of five years. The program follows the S&P BSE 500 Total Return Index.
Tax-saving DSP Fund
In comparison to the normal plan of the scheme, which has a return of 12.32% over five years, the direct plan of the DSP Tax Saver Fund has produced a return of 13.32%. This program follows the NIFTY 500 Total Return Index.
Long-Term Equity for Unions
Union Long Term Equity Fund’s direct plan has generated a return of 12.77% over the course of five years, while the scheme’s regular plan has generated a return of 12.09%. The program follows the S&P BSE 500 Total Return Index.
Tax Gain Fund JM
JM Tax Gain Fund’s direct plan has returned 12.04% over the course of five years, while the normal plan has returned 12.05%. The program follows the S&P BSE 500 Total Return Index.
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Fund for IDFC Tax Advantage (ELSS)
In comparison to the ordinary plan of the scheme, the direct plan of the IDFC Tax Advantage (ELSS) Fund has produced a return of 12.60% over the course of five years. The program follows the S&P BSE 500 Total Return Index.
Tax Savings Fund for Tata India
Tata India Tax Savings Fund’s direct plan has generated a return of 12% over the course of five years, while the regular plan has generated a return of 10.49%. This program follows the NIFTY 500 Total Return Index.
(Disclaimer: Based on data from the AMFI website as of March 3, 2023, the content above is provided merely for informational purposes. Investments in mutual funds are susceptible to market risks, and there is no promise that a fund will consistently perform as it has in the past. Hence, before making an investment, please consult a financial counselor.)