The main purpose of investing for most investors is tax saving. Equity linked saving schemes (ELSS) are those mutual fund schemes that help you save taxes as well as generate decent returns. But, how do you separate the wheat from the chaff? Here is a list of few ELSS schemes that you should consider for investing.
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The main purpose of investing for most investors is tax saving. Equity linked saving schemes (ELSS) are those mutual fund schemes that help you save taxes as well as generate decent returns. But, how do you separate the wheat from the chaff? Here is a list of few ELSS schemes that you should consider for investing.
The true measure of ELSS scheme’s worth is consistency. Following four ELSS schemes make the cut based on their 5 years, 3 years and 1 year performance put together (see tables). These schemes have remained in the Top 10 ELSS schemes for all these durations :
- Canara Robeco Equity Tax Saver
- HDFC Taxsaver
- Sahara Tax Gain
- Birla Sun Life Tax Relief 96
Investment in ELSS schemes qualify for deductions under section 80C. So, you could max your returns by investing the entire Rs 1 lakh limit of your Section 80C deductions through ELSS investments alone. However, be cautious as ELSS schemes have a risk grade higher than other investments that qualify under section 80C such as life insurance, PPF, NSC, etc.
Another important factor to consider is the lock-in period. ELSS schemes have a 3 year lock-in, that means you can not sell the investment before this period.
Top 10 Tax Saving Mutual Funds (ELSS)
The following 3 tables lists the Top 10 ELSS Schemes in descending order of their 5 years, 3 years and 1 year returns. This may help you in selecting the best ELSS scheme for your needs.
ELSS Schemes Ranking based on 5 Year Returns
|
Rank |
Fund Name |
Return (%) |
NAV for Plan |
NAV as on Date |
|||
|
1 Year |
3 Year |
5 Year |
Dividend |
Growth |
|||
|
1 |
Magnum Taxgain |
93.29 |
10.05 |
32.03 |
44.4 |
59.05 |
11-Jan-2010 |
|
2 |
Canara Robeco Equity Tax Saver |
97.08 |
19.21 |
28.82 |
20.29 |
22.28 |
11-Jan-2010 |
|
3 |
Sundaram BNP Paribas Taxsaver |
81.83 |
15.64 |
28.04 |
15.03 |
43.92 |
11-Jan-2010 |
|
4 |
HDFC Taxsaver |
106.03 |
11.2 |
27.09 |
62.36 |
200.48 |
11-Jan-2010 |
|
5 |
Sahara Tax Gain |
96.88 |
16.63 |
25.99 |
18.99 |
33.33 |
11-Jan-2010 |
|
6 |
ICICI Prudential Tax Plan |
120.85 |
9.38 |
24.52 |
18.51 |
124.12 |
11-Jan-2010 |
|
7 |
Franklin India Taxshield |
86.18 |
13.3 |
23.67 |
32.85 |
181.84 |
11-Jan-2010 |
|
8 |
Birla Sun Life Tax Relief 96 |
111.64 |
10.74 |
22.39 |
88.66 |
10.99 |
11-Jan-2010 |
|
9 |
Franklin India Index Tax |
79.82 |
9.33 |
21.39 |
40.2 |
n/a |
11-Jan-2010 |
|
10 |
Principal Personal Tax Saver |
93.44 |
9.76 |
21.22 |
91.44 |
n/a |
11-Jan-2010 |
ELSS Schemes Ranking based on 3 Year Returns
|
Rank |
Fund Name |
Return (%) |
NAV for Plan |
NAV as on Date |
|||
|
1 Year |
3 Year |
5 Year |
Dividend |
Growth |
|||
|
1 |
Taurus Tax Shield |
106.56 |
22.69 |
18.84 |
23.93 |
32.76 |
11-Jan-2010 |
|
2 |
Canara Robeco Equity Tax Saver |
97.08 |
19.21 |
28.82 |
20.29 |
22.28 |
11-Jan-2010 |
|
3 |
Sahara Tax Gain |
96.88 |
16.63 |
25.99 |
18.99 |
33.33 |
11-Jan-2010 |
|
4 |
Sundaram BNP Paribas Taxsaver |
81.83 |
15.64 |
28.04 |
15.03 |
43.92 |
11-Jan-2010 |
|
5 |
Religare Tax Plan |
91.49 |
15.54 |
n/a |
12.86 |
15.53 |
11-Jan-2010 |
|
6 |
Fidelity Tax Advantage |
91.58 |
14.11 |
n/a |
16.61 |
18.5 |
11-Jan-2010 |
|
7 |
Franklin India Taxshield |
86.18 |
13.3 |
23.67 |
32.85 |
181.84 |
11-Jan-2010 |
|
8 |
HDFC Taxsaver |
106.03 |
11.2 |
27.09 |
62.36 |
200.48 |
11-Jan-2010 |
|
9 |
Birla Sun Life Tax Relief 96 |
111.64 |
10.74 |
22.39 |
88.66 |
10.99 |
11-Jan-2010 |
|
10 |
Magnum Taxgain |
93.29 |
10.05 |
32.03 |
44.4 |
59.05 |
11-Jan-2010 |
ELSS Schemes Ranking based on 1 Year Returns
|
Rank |
Fund Name |
Return (%) |
NAV for Plan |
NAV as on Date |
|||
|
1 Year |
3 Year |
5 Year |
Dividend |
Growth |
|||
|
1 |
ICICI Prudential Tax Plan |
120.85 |
9.38 |
24.52 |
18.51 |
124.12 |
11-Jan-2010 |
|
2 |
Birla Sun Life Tax Relief 96 |
111.64 |
10.74 |
22.39 |
88.66 |
10.99 |
11-Jan-2010 |
|
3 |
ING Tax Savings |
107.18 |
-0.97 |
17.56 |
13.09 |
26.54 |
11-Jan-2010 |
|
4 |
DBS Chola Tax Saver |
106.86 |
3.63 |
n/a |
14.28 |
15.37 |
11-Jan-2010 |
|
5 |
Taurus Tax Shield |
106.56 |
22.69 |
18.84 |
23.93 |
32.76 |
11-Jan-2010 |
|
6 |
HDFC Taxsaver |
106.03 |
11.2 |
27.09 |
62.36 |
200.48 |
11-Jan-2010 |
|
7 |
Canara Robeco Equity Tax Saver |
97.08 |
19.21 |
28.82 |
20.29 |
22.28 |
11-Jan-2010 |
|
8 |
Sahara Tax Gain |
96.88 |
16.63 |
25.99 |
18.99 |
33.33 |
11-Jan-2010 |
|
9 |
DSPBR Tax Saver |
95.48 |
n/a |
n/a |
11.46 |
15.4 |
11-Jan-2010 |
|
10 |
HDFC LT Advantage |
93.77 |
8.01 |
20.66 |
38.26 |
117.3 |
11-Jan-2010 |
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