Mar 18, 2017 3 min read

Best ELSS Funds to Invest Before March 31

Tax time is approaching fast and it is important for all of us to make worthy investment to reduce the tax liability. Here are the best ELSS funds which provide Section 80C exemption to the investors.
So many options for tax-saving investment and so little time is left with you. Hurry up, go and grab the best opportunity! It’s tax season, and investment made now would be helpful for you to reduce your tax liability. But where to invest might be your query! Here is the best solution for you.

The ELSS funds, which are categorised in the Section 80C investment for availing tax exemption up to Rs.1.5 lac is what we are talking about. As we know just a few days are left before the deadline and you need to make a quick though smart move, our fund analysts have recommended you the best ELSS mutual funds to help you make a worthy investment. Have a look at them!

1. Reliance Tax Saver (ELSS) Fund (G)

  • Fund House: Reliance Mutual Fund
  • NAV: Rs.53.092 as on March 14, 2017
  • AUM: Rs.6,916 crore as on February 28, 2017
  • Loads: NIL
  • Three- & Five-Year Returns: 26.50% & 20.00%
  • Star Rating: Three-Star

2. Axis Long Term Equity Fund (G)

  • Fund House: Axis Mutual Fund
  • NAV: Rs.33.546 as on March 14, 2017
  • AUM: Rs. 11,491 crore as on February 28, 2017
  • Loads: NIL
  • Three- & Five-Year Returns: 22.10% & 21.60%
  • Star Rating: Four-Star

3. Birla Sun Life Tax Relief 96 (G)

  • Fund House: Birla Sun Life Mutual Fund
  • NAV: Rs.24.66 as on March 14, 2017
  • AUM: Rs. 2,780 crore as on February 28, 2017
  • Loads: NIL
  • Three- & Five-Year Returns: 23.30% & 19.20%
  • Star Rating: Five-Star

4. DSP BlackRock Tax Saver Fund (G)

  • Fund House: DSP BlackRock Mutual Fund
  • NAV: Rs.39.9 as on March 14, 2017
  • AUM: Rs.1,907 crore as on February 28, 2017
  • Loads: NIL
  • Three- & Five-Year Returns: 24.60% & 19.80%
  • Star Rating: Five-Star

These funds are among the top performing ELSS mutual funds in India which are aimed at providing the tax benefit to the investors and appreciate their capital in the long run. Our analysts have recommended them as per their portfolio concentration, past performances and market reviews. Moreover, they have analysed them in comparison with their peers and have concluded that they can provide the best returns so far.

ELSS funds are beneficial for the investors as they offer several advantages as compared to other tax-saving instruments. They include:

Tax Benefit Under Section 80C

The primary advantage of investing in an ELSS is gaining the exemption up to Rs.1.5 lakh. This reduces the total tax liability of the investors in the current year, and allows them to gain tax benefit. The interest earned on such investments is tax-free and the capital gains attained at the time of selling an ELSS is further exempted from taxes.

Lowest Lock-In of 3 Years

The tax-savings instruments like PPF, NPS, etc., have maturity extending for five to fifteen years. On the flip side, ELSS has a lock-in of three years only. Accordingly, the investors can redeem their funds even after three years of investment in case they need the same.

Equity Benefit

Above all, the most important advantage of ELSS schemes is that they provide the equity exposure to the investors. This helps in building a huge wealth for the future. Accordingly, the investors not only save on their taxes but also accomplish their long-term financial goals.

Hence, if you too want to gain the substantial benefits of ELSS investments before March 31 to save on your taxes for income earned in FY 2016-17, then you must avail our services and invest in our recommended funds now. MySIPonline and its team are always ready to serve your investing needs. Get associated with us to experience the difference.