Which are the best ELSS schemes for tax saving?

ELSS (Equity Linked Savings Scheme) is a good investment strategy to reduce your tax liability among all the investment options available under section 80c of Income Tax Law. Moreover, it has the shortest lock-in period of 3 years. Now, coming to your question.

Well, I don’t know your risk-appetite, investment amount, and time horizon, but still I will list some of the best ELSS schemes according to their growth and previous performance.

1. Aditya Birla Sun Life Tax Relief 96’ Fund.
2. Axis Long Term Equity Fund.
3. ICICI Prudential Long Term Equity Fund.
4. Mirae Asset Tax Saver Fund.
5. L&T Tax Advantage Fund.

These are some of the best ELSS schemes that can help you in achieving good returns along with your tax savings. Furthermore, the choice for mode of investment, i.e., lump sum or SIP will depend on your convenience. But I personally feel that SIP provides good returns in the long run.

I don’t know about the best, but I have invested my money in the following schemes and by far they have provided me good returns-

• Invesco India Tax Plan
• Aditya Birla Sun Life Tax Relief 96’ Fund

Hope it helps ;)