Prime-performing ELSS Tax Saving Mutual Funds since inception (Could 2023): Fairness-linked Financial savings Schemes (ELSS) or tax saving funds present traders with the advantage of tax deduction in addition to an opportunity to get excessive returns from fairness investing. As much as Rs 1.5 lakh invested in an ELSS fund qualifies for deduction underneath Part 80C of the Earnings Tax Act.

Information on the web site of the Affiliation of Mutual Funds in India (AMFI) on the time of writing reveals that as many as eight tax-saving funds have given returns between 18% to 23% since their respective launch dates. Curiously, there’s a large distinction between the direct and common plan returns of a few of these schemes. Additionally, a few of these funds are comparatively youthful than others.

Had there been a race for tax-saving funds, a number of schemes may have been eligible to take part to say the championship, relying on their age and skill to multiply traders’ wealth. Nonetheless, there is no such thing as a such race. However there is usually a checklist of 8 such top-performing ELSS schemes since their respective launch dates until Could 26, 2023, as per AMFI web site knowledge, as under. Buyers ought to, nevertheless, be aware that there is no such thing as a assurance that these funds would proceed to provide comparable returns in future.

HDFC Taxsaver Fund

The common plan of HDFC Taxsaver Fund has given a return of 23% whereas the direct plan of the scheme has given a return of 13.26% since its inception. The scheme tracks NIFTY 500 Complete Return Index.

Additionally Learn: Prime-performing mutual funds: 8 small cap schemes with 24% to 30% returns since inception (Could 2023)

Parag Parikh Tax Saver Fund

The direct plan of Parag Parikh Tax Saver Fund has given a return of twenty-two.98% whereas the common plan of the scheme has given a return of 21.44% since inception. The scheme tracks NIFTY 500 Complete Return Index.

Aditya Birla Solar Life Tax Reduction 96 Fund

The common plan of Aditya Birla Solar Life Tax Reduction 96 Fund has given a return of 21.44% whereas the direct plan of the scheme has given a return of 13.44% since inception. The scheme tracks NIFTY 500 Complete Return Index.

Franklin India Taxshield Fund

The common plan of Franklin India Taxshield Fund has given a return of 20.63% whereas the direct plan of the scheme has given a return of 14.67% since inception. The scheme tracks NIFTY 500 Complete Return Index.

Additionally Learn: Greatest Massive Cap Funds in 10 years: 11 schemes with 14% to 16.6% annual SIP returns (Could 2023)

Quant Tax Plan

The direct plan of Quant Tax Plan has given a return of 20.07% whereas the common plan of the scheme has given a return of 14.69% since inception. The scheme tracks NIFTY 500 Complete Return Index.

Mirae Asset Tax Saver Fund

The direct plan of Mirae Asset Tax Saver Fund has given a return of 18.75% whereas the common plan of the scheme has given a return of 17.12% since inception. The scheme tracks NIFTY 500 Complete Return Index.

ICICI Prudential Lengthy Time period Fairness Fund (Tax Saving)

The common plan of ICICI Prudential Lengthy Time period Fairness Fund (Tax Saving) has given a return of 18.95% whereas the direct plan of the scheme has given a return of 14.92% since inception. The scheme tracks NIFTY 500 Complete Return Index.

Additionally Learn: Prime Mid Cap Mutual Funds in 10 years: 11 schemes flip Rs 25,000 SIP into Rs 89 lakh to Rs 1 crore (Could 2023)

Tata India Tax Financial savings Fund

The common plan of Tata India Tax Financial savings Fund has given a return of 18.13% whereas the direct plan of the scheme has given a return of 16.22% since inception. The scheme tracks NIFTY 500 Complete Return Index.

Disclaimer: The above content material is for data functions solely based mostly on AMFI web site knowledge as of Could 26, 2023. Mutual Funds are topic to market dangers. There isn’t a assurance or assure that the above funds will give the identical returns in future. Buyers are suggested to seek the advice of their monetary advisors earlier than investing.

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