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Go Beyond Last Minute Tax Saving! Invest in the Best ELSS Mutual Fund

The ELSS is a sub-category of equity mutual funds that has the major objective of providing tax saving benefit to the investors. The investments in these are made in the equity instruments, and thus they not only provide tax deduction, but also help in appreciating the capital worth. Thus, if you are investing in the ELSS funds you gain the dual advantage of tax savings & wealth creation.

Recommended Funds  
Scheme Name Category Nav Return(%) Rating Analysis Amount Action
Tata India Tax Saving Fund (G)
Fund Recommended for Investment by Experts
Category ELSS Nav 17.31 Return(%)3 Yr. 12.8 Analysis Enter Your amount

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Aditya Birla Sun Life Tax Relief 96 (G)
R Fund Recommended for Investment by Experts
Category ELSS Nav 30.65 Return(%)3 Yr. 11.85 Analysis Enter Your amount

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DSP BlackRock Tax Saver Fund (G)
R Fund Recommended for Investment by Experts
Category ELSS Nav 45.61 Return(%)3 Yr. 11.91 Analysis Enter Your amount

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HDFC Long Term Advantage Fund (G)
Fund Recommended for Investment by Experts
Category ELSS Nav 341.3 Return(%)3 Yr. 11.55 Analysis Enter Your amount

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Sundaram Tax Saver (G)
Fund Recommended for Investment by Experts
Category ELSS Nav 102.12 Return(%)3 Yr. 10.63 Analysis Enter Your amount

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Invesco Tax Plan (G)
Fund Recommended for Investment by Experts
Category ELSS Nav 47.69 Return(%)3 Yr. 9.73 Analysis Enter Your amount

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Axis Long Term Equity Fund (G)
R Fund Recommended for Investment by Experts
Category ELSS Nav 40.22 Return(%)3 Yr. 9.06 Analysis Enter Your amount

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Kotak Tax Saver (G)
Fund Recommended for Investment by Experts
Category ELSS Nav 40.57 Return(%)3 Yr. 8.43 Analysis Enter Your amount

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Franklin India Taxshield Fund (G)
Fund Recommended for Investment by Experts
Category ELSS Nav 538.76 Return(%)3 Yr. 8.07 Analysis Enter Your amount

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Reliance Tax Saver (ELSS) Fund (G)
R Fund Recommended for Investment by Experts
Category ELSS Nav 63.06 Return(%)3 Yr. 7.75 Analysis Enter Your amount

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HDFC Tax Saver (G)
Fund Recommended for Investment by Experts
Category ELSS Nav 523.8 Return(%)3 Yr. 8.28 Analysis Enter Your amount

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UTI Equity Tax Savings Plan (G)
Fund Recommended for Investment by Experts
Category ELSS Nav 85.06 Return(%)3 Yr. 7.73 Analysis Enter Your amount

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IDBI Equity Advantage Fund (G)
Fund Recommended for Investment by Experts
Category ELSS Nav 26.23 Return(%)3 Yr. 7.6 Analysis Enter Your amount

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Canara Robeco Equity Tax Saver (G)
Fund Recommended for Investment by Experts
Category ELSS Nav 58.58 Return(%)3 Yr. 6.58 Analysis Enter Your amount

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ICICI Prudential Long Term Equity Fund (Tax Saving) (G)
Fund Recommended for Investment by Experts
Category ELSS Nav 348.61 Return(%)3 Yr. 7.63 Analysis Enter Your amount

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SBI Magnum Tax Gain Scheme (G)
Fund Recommended for Investment by Experts
Category ELSS Nav 142.43 Return(%)3 Yr. 7.12 Analysis Enter Your amount

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Motilal Oswal MOSt Focused Long Term Fund - Regular Plan (Growth)
Fund Recommended for Investment by Experts
Category ELSS Nav 17.72 Return(%)3 Yr. 18.78 Analysis Enter Your amount

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L&T Tax Advantage (G)
R Fund Recommended for Investment by Experts
Category ELSS Nav 55.34 Return(%)3 Yr. 13.43 Analysis Enter Your amount

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L&T Tax Advantage (D)
Fund Recommended for Investment by Experts
Category ELSS Nav 25.17 Return(%)3 Yr. 13.43 Analysis Enter Your amount

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MIRAE ASSET TAX SAVER FUND - REGULAR GROWTH
R Fund Recommended for Investment by Experts
Category ELSS Nav 16.16 Return(%)3 Yr. N/A Analysis Enter Your amount

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SBI Long Term Advantage Fund Series V (G)
Fund Recommended for Investment by Experts
Category ELSS Nav 0 Return(%)3 Yr. N/A Analysis Enter Your amount

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ICICI Prudential Long Term Wealth Enhancement Fund (G)
Fund Recommended for Investment by Experts
Category ELSS Nav 0 Return(%)3 Yr. N/A Analysis Enter Your amount

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Sundaram Long Term Tax Advantage Fund Series III (G)
Fund Recommended for Investment by Experts
Category ELSS Nav 0 Return(%)3 Yr. N/A Analysis Enter Your amount

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ELSS - Tax Saving Mutual Funds Providing Capital Growth

Investing in ELSS funds is one of the best tax saving options providing tax deduction under Section 80C of the Income Tax Act. The tax saving plans are the best investment plans which provide higher returns on the invested capital along with saving income up to Rs. 1.5 lakh to avail reduction in the tax liability. With a lock-in period of three years and investments made in the equity-related securities, ELSS tax saving mutual funds tend to provide the maximum benefits of earning wealth over time. Due to the maturity period of three years, the invested capital gets enough time to get enriched. To gain better understanding and know how ELSS funds provides higher earnings, read the content further.

ELSS: Meaning

ELSS mutual fund is a category of equity funds where at least 65% of the total invested money is parked in the equity shares and securities. As per the Section 80C of the Income Tax Act, 1961, there are several investment instruments being listed out that provide a deduction from the total taxable income of the assessees. The ELSS tax saving mutual fund is one of those listed instruments in Section 80C that aims to provide the same benefits to the investors. By investing in these tax saving funds, one can claim a deduction from the total taxable income of an amount up to Rs.1.5 lakh. 

ELSS Mutual Fund Features

Equity Investments Providing Capital Growth - Being a category in the equity asset class, ELSS funds provide the benefits of equity investments in the long run. As we know that equities generate tremendous growth for the investors, in the long term, the ELSS tax saver fund also provides the same benefit. It helps in earning huge wealth for the investors and appreciates the capital in order to attain the long-term investment goals. After beating market volatility, the funds in the tax saving plans generate higher returns.

  1. Tax Savings Under Section 80C - The Income Tax Act provides tax deduction under Section 80C, and the best ELSS helps in attaining the same. One can easily avail the deduction up to Rs.1.5 lakh on the total income, and reduce taxes up to Rs.43650 in a financial year.
  2. Lowest Lock-In Period - There are various tax saving options in India, but ELSS has the least lock-in of three years as compared to other alternatives. Accordingly, the money of the investors does not get blocked for a longer tenure, rather can be redeemed anytime after three years. In some other tax saving plans, the maturity is even up to fifteen years.
  3. No Capital Gain Tax - The ELSS investments also provide the benefit of tax exemption on the income earned in the form of capital gain. This way, the investors need not pay any money to the taxman in terms of earnings from the sale of ELSS funds.
  4. Dividend & Growth Option - The investors have the option to invest their money either in the dividend or growth option plan through SIP or lumpsum. The dividend plans are those wherein the investors earn dividend or income regularly, while in the case of growth option, the funds provide the capital appreciation after a period of time.

Basis of Selecting the Best Tax Saving Mutual Fund

Tax saving funds are the ones that mainly tend to provide the benefit of claiming a deduction on the income. While selecting these funds, one needs to be extra careful as several provisions and factors need to be kept in mind. Your must have an in-depth study of each and every tax saving option available to you. Don’t just go by mouth publicity. The reason being is that the ELSS mf suitable for one person may not have the same efficiency for the other. Thus, it is essential that before investing, one must carefully study the market position of all the tax saver funds. The expert's team of MySIPonline shall provide you with the best benefit for the same. They will guide you about which ELSS scheme is best suited to your requirement and why you should opt for them.

Who Should Invest in ELSS Funds?

As per the income tax slab, the assessees having income more than Rs.2,50,000 are required to pay taxes as per the rate applicable to them. Accordingly, the investors who come under the taxable slab and want to reduce their tax liability, should park their money in the ELSS funds. Furthermore, if you need to calculate your taxability, then you can use our ‘Tax Calculator’ which will help you in computing the exact sum payable for taxes and will also help you in planning how to reduce it. Investments in ELSS can be initiated with just Rs.500 and thus, investors have the benefit of starting SIP with a small sum of money and gain tremendous income.

Confused Between Different ELSS saving Plans? Take Advice Here

Tax planning is an essential part of personal finance, and everyone wants to make the best of it. There are several best-performing ELSS plans in India and opting for any one of them is quite difficult. Thus, one needs to be appropriate while choosing the right plan for their portfolio. MySIPonline has a team of financial experts and tax planners who are readily available to help you in making the best investment plan. You must get associated with us and invest your money in the right plan at the right moment. Our team will definitely provide you with the exact solutions so that you do not lag behind in tax savings as well as earning wealth for your future.

ELSS Tax Saving Mutual Funds - Modes of Investment

The online investment is the best way to start investing in the best elss tax saving funds. We provide a wide range of online tools and solutions that will help you in making simplified investment. You can opt for the tax calculator, tax planning, best ELSS schemes and other solutions to make the right choice and start online investment in mf. The online SIP is further an additional solution that will simplify your investment journey and let you make better earnings with tax savings.

To provide you with the best-investing options in ELSS we are working day in and day out. You can trust our site as we include only those plans which are really worthy. Our experts have come up with the chart-buster ELSS schemes like, Axis Long Term Equity Fund (G), Reliance Tax Saver (ELSS) Fund (G), etc.

What our clients say...
  • I was very tensed because I was not getting time to visit my CA in order to save on taxes this financial year. MySIPonline provided me a shortcut in the face of ELSS schemes. I have made my investments, and I am really happy because I believe I will be able to earn good returns. Thanks for all the help.

    Ravi Khatri Product Manager
  • I used to always wonder how some people had great business sense and the ability to identify the best tax-saving funds. But, thanks to MySIPonline which provided the exclusive facility of choosing the best-performing ELSS funds through which I could easily save on my taxes, and making it real for me to employ all my savings into the most rewarding avenues. Now, I can proudly say that I’m a smart investor.

    Kaviraj Shekhawat Assistant Manager
  • Superb!!! A warm congratulation to the entire team of MySIPonline for becoming one of the best platforms for MF investment in India. I too have an account on your platform, and I use it almost every day. I have recently invested in some ELSS plans to avail the tax benefits. The amazingly designed dashboard and the color combination of the app are cool. Moreover, the customer support is great as it reaches us very early and resolve our issues. In short, I give five out of five in all.

    Suresh Verma E-Commerce Operations Manager
  • Tax saving is a big headache for the employers these days. However, with the investment in ELSS fund, I am now enjoying tax saving, and capital growth benefits both at the same time. I am grateful to you guys for making me aware of this wonderful category of mutual funds which are excellently serving my purpose. I personally suggest this portal to anyone who is looking for making investments in mutual funds.

    Kriti Raj Chouhan Sales Marketing Head
  • Before investing in the ELSS schemes through MySIPonline, I used to run after the tax consultants for giving me just a hint on how could I trim my taxes and save some extra bucks to take care of my ever-increasing expenses. But now, I have the power of saving my hard-earned money from the clutches of the taxman, all because of the dearly website MySIPonline. Thank you, guys! I owe you big time for this.

    Shantanu Goyal Sales Manager
  • Whenever the month of March hits the calendar, my blood pressure soars into the sky and I lose all my sanity as I have to face the heavy tax burdens every year like clockwork. But not anymore, as I now know the secret to save tax, which is simply logging on to MySIPonline and picking the best ELSS scheme running in the market. Seriously, this website is the magic pill to cure the tax disease.

    Sachin Dave IT Officer
  • I do not have a healthy approach to the financial fundamentals, but still, I am availing tax-benefits through tax saving funds efficiently. Furthermore, I am earning excellent profits on my investments. All these are possible because of the supportive team of MySIPonline; they helped me at every level to get me the best exposure in the investment world. They also have up-to-date content on their website which is self-explanatory and provides updated information. Thanks to the entire team. Keep the good work doing.

    Santosh Divakar Government Teacher
  • I recently invested in the best ELSS funds through this portal to get tax benefits. I would like to share my experience of investing through this portal, i.e., MySIPonline. Absolutely fantastic, and effortless. As this team always says that ‘simplifying investments’ they really mean it. I am experiencing an amazing journey of investing in mutual funds. Thanks to the owner of this platform to bring such an excellent medium for investment. Great Job!!!

    Aakash Kalra Android Developer
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