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Best Tax Saving Mutual Funds – FY 2021-22

19 November 2021
3 minutes

Equity Linked Saving Scheme (ELSS) funds are equity mutual funds that primarily invest in equity and equity-related instruments. 

Two primary factors make ELSS Funds different from other equity funds: 

  1. Mandatory Lock-in period of three years 
  2. Tax deduction of up to Rs.1.5 lakh under Section 80C of the Income Tax Act, 1961 

It is important to remember that the tax deduction amount is across all investments made under Section 80C and not for ELSS alone.

Salary earners looking to grow their money while also availing tax advantages are primary investors in ELSS funds and one question amongst them is obvious: Which tax saver mutual fund is best?

The meaning of ‘best’ depends on various factors and can vary from person to person. One of the ways to look at a fund’s performance is to look at its historical returns. So, if you have been wondering which tax saver mutual fund is best for you in terms of historical returns, we have the list ready for you: 

(For a more detailed description of ELSS funds, kindly check: What are ELSS funds?)

Here’s a list of top tax saving mutual funds in India: 

Note: 

  1. This list has been prepared in the order of high to low 5 year returns. 
  2. This is not a recommendation that historical returns should be considered foremost before making any investment.
  3. The list has been prepared solely for informational and educational purposes. It is not intended to be advice on what to buy or sell. 

Quant Tax Plan Direct-Growth

Time Period 1 Year 3 Year 5 Year
Return* 98.38% 39.62% 25.55%

To know more about this fund, click here: Quant Tax Plan Direct Growth

 

Mirae Asset Tax Saver Fund Direct Growth

Time Period 1 Year 3 Year 5 Year
Return* 64.26% 28.90% 22.48%

To know more about this fund, click here: Mirae Asset Tax Saver Fund Direct Growth

 

BOI AXA Tax Advantage Direct

Time Period 1 Year 3 Year 5 Year
Return* 66.15% 32.16% 21.07%

To know more about this fund, click here: BOI AXA Tax Advantage Direct

 

Canara Robeco Equity Tax Saver Direct Growth

Time Period 1 Year 3 Year 5 Year
Return* 60.67% 28.84% 20.14%

To know more about this fund, click here: Canara Robeco Equity Tax Saver Direct Growth

 

IDFC Tax Advantage Direct Growth

Time Period 1 Year 3 Year 5 Year
Return* 82.01% 25.65% 19.42%

To know more about this ELSS fund, click here: IDFC Tax Advantage Direct Growth

*as of October 22, 2021. 

Happy Investing!

Disclaimer: The content presented here is only for educational and informational purposes. It is not intended to be advice on what to buy or sell. 

This content is not a recommendation that historical returns should be considered foremost before making any investment. With regard to funds, exit loads and other relevant factors can also act as significant factors. Investors are advised to invest after in-depth research and in alignment with their personal financial goals. 

To read the RA disclaimer, please click here.

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