Equity linked Savings Schemes (ELSS) funds are the best known way to use the R.1.5 lakh limit that is there for tax saving investments under Section 80C. Since the best way to invest regularly in a fund is through an SIP, investors should just start an SIP in a carefully-chosen ELSS fund and let it run for a long duration. When comparing with other tax saving schemes like Tax saving Fixed Deposits, PPF, NSC etc, ELSS offers higher returns. However, these returns are not guaranteed and have low lock in period of 3 years. Here are the best top 3 ELSS mutual funds in India for 2017 tax savings purpose.
Rank 1 : DSP BlackRock Tax Saver Fund
Investment Objective: An Open ended equity linked savings scheme whose primary investment objective is to seek to generate medium to long-term capital appreciation from a diversified portfolio that is substantially constituted of equity and equity related securities of corporates and to enable investors avail of a deduction from total income as permitted under the Income Tax Act,1961 from time to time.
Scheme Details
Fund Type: Open-Ended
Investment Plan: Growth
Launch date: Nov 27, 2006
Benchmark: NIFTY 500
Asset Size: Rs 1,420.48 cr (Avg. AUM for qtr Oct-Dec ’16)
Minimum Investment: Rs.500
Fund Manager: Rohit singhania
This scheme has provided 20.4% annualized returns in last 5 years. In last 3 years, this scheme provided good returns of 26.6% annualized returns.
Rank 2: Birla Sun Life Tax Plan (G)
Investment Objective: An Open ended Diversified Equity Scheme Change The scheme seeks to provide long-term capital appreciation, by investing predominantly in a diversified portfolio of equity and equity related securities.
Scheme Details
Fund Type: Open-Ended
Investment Plan: Growth
Launch date: Oct 01, 2006
Benchmark: S&P BSE SENSEX
Asset Size: Rs 386.47 cr (Avg. AUM for qtr Oct-Dec ’16)
Minimum Investment: Rs.500
Fund Manager: Ajay Garg
Scheme Details
Fund Type: Open-Ended
Investment Plan: Growth
Launch date: Oct 01, 2006
Benchmark: S&P BSE SENSEX
Asset Size: Rs 386.47 cr (Avg. AUM for qtr Oct-Dec ’16)
Minimum Investment: Rs.500
Fund Manager: Ajay Garg
This scheme has provided 19.1% annualized returns in last 5 years. In last 3 years, this scheme provided good returns of 25.6% annualized returns.
Rank 3: Kotak Tax Saver Scheme
Investment Objective: To generate long-term capital appreciation from a diversified portfolio of equity and equity related securities and enable investors to avail the income tax rebate, as permitted from time to time.
Scheme Details
Fund Type: Open-Ended
Investment Plan: Growth
Launch date: Nov 23, 2005
Benchmark: NIFTY 500
Asset Size: Rs 490.66 cr (Avg. AUM for qtr Oct-Dec ’16)
Minimum Investment: Rs.500
Fund Manager: Harsha Upadhyaya
This scheme has provided 14.9% annualized returns in last 5 years. In last 3 years, this scheme provided good returns of 25.3% annualized returns.
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