Which Tax Saver ELSS is best?
The table below shows the top-performing ELSS mutual funds based on the past five year returns:
| Mutual fund | 5 Yr. Returns | 3 Yr. Returns |
|---|---|---|
| Union Long Term Equity Fund Growth | 16.54\% | 24.52\% |
| IDFC Tax Advantage (ELSS) Fund – Regular Plan – Growth | 19.15\% | 23.61\% |
| Canara Robeco Equity Tax Saver Fund | 20.51\% | 23.56\% |
Is ELSS better than normal mutual funds?
To conclude the difference between an ELSS and other equity mutual fund schemes is the tax saving and the lock-in period. If you want to invest in equity funds and save tax then ELSS is a better option.
Which mutual fund is best for tax saver?
Top 10 Tax Saving Mutual Funds in India
| Funds | 1-Year Returns (\%) | 5-Year Returns |
|---|---|---|
| Tata India Tax Savings Fund Growth | 14.6 | |
| L Tax Advantage Fund Growth | 16.2 | 20.3 |
| Aditya Birla Sun Life Tax Relief 96 Fund Growth | 19.3 | 23.5 |
| Aditya Birla Sun Life Tax Plan Growth | 18.9 | 22.6 |
Are mutual funds good for beginners?
New investors have it better than ever. The best mutual funds and ETFs for beginners feature no minimum investments, dirt-cheap fees and broad market exposure. Exchange-traded funds (ETFs) can now be purchased for the price of just one share, and many mutual funds now have low (and even no) minimum investments.
What investments should a beginner invest in?
Browse our hand-picked categories
- Mirae Asset Tax Saver Fund. EQUITY ELSS.
- Canara Robeco Equity Tax Saver Fund. EQUITY ELSS.
- Invesco India Tax Plan Fund. EQUITY ELSS.
- DSP Tax Saver Fund. EQUITY ELSS.
- EQUITY ELSS. Consistency.
- Kotak Tax Saver Fund. EQUITY ELSS.
- ICICI Prudential Equity & Debt Fund.
- Motilal Oswal Long Term Equity Fund.
Which SIP is best for tax saving?
So, to make the process of Investing easy, we have shortlisted the best tax saving SIP plans that offer the best returns to the investors….2. Canara Robeco Equity Tax Saver.
| Canara Robeco Equity Tax Saver Growth | |
|---|---|
| Launch Date | 2 Feb 09 |
| Min Investment | 500 |
| Min SIP Investment | 500 |
| Exit Load | NIL |
How do beginners invest in mutual funds?
How to invest in money market mutual funds in India?
- Log on to cleartax invest.
- You must opt for the mutual fund house from the list of fund houses.
- Select the money market mutual fund from the category of debt funds based on your investment objectives and risk tolerance and click on Invest now.
Who should invest in ELSS mutual funds?
Generally, ELSS Mutual Funds are suitable for all kinds of investors who are willing to take market-linked risks for tax planning and saving money. Anyone can invest in ELSS funds at any point of time in their life.
Which is the best tax saving mutual fund for 2021?
Top 8 Best ELSS Tax Saving Mutual Funds to invest for 2021 – 2022 are, Mirae Asset Tax Saver Fund, BOI AXA Tax Advantage Fund, Canara Robeco Equity Tax Saver, IDFC Tax Advantage (ELSS) Fund, DSP BlackRock Tax Saver Fund, Motilal Oswal Long Term Equity Fund
Why ELSS funds are better than other section 80C instruments?
Hence, being invested in equities, ELSS funds have the potential to generate higher returns other Section 80C instruments like Public Provident Fund (PPF), National Savings Certificate (NSC) and tax saving bank fixed deposits over the long term.
What is ELSS or equity linked saving schemes?
ELSS or Equity Linked Saving Schemes comes with a lock-in period of 3 years, which is the shortest holding compared to all other tax savings. By Investing in ELSS, one can attain deductions upto INR 1,50, 000 from their taxable Income as per the Section 80C of income tax Act.