Tax Saving Mutual Funds - Save Taxes on Investment

For some people tax saving never ends and they keep on looking for various ways to save it. One way where you can save as well as increase your hard earned money is by investing it. 

On making tax saving investments you can reap the dual benefit of saving taxes and earning returns on your deposits. 

ELSS mutual funds offer this advantage. The investment in ELSS mutual funds can be made with the small amount of Rs. 500. There is no maximum cap limit and the customer can invest up to as per his/her wish. It is on the investment of up to Rs.1.5 lakhs that the investor can get a tax rebate under Section 80C every year. 

The returns given on the investment are also tax-free and provided to the customer after completion of 3 years. The lock-in period is 3 years, so the customer has to make an investment at least for 3 years.

There are multiple schemes offered this type of fund. The customer can select any as per his or her choice on the basis of the past performance. The performance chart gives an idea how the fund has been performing over the years. The name of various mutual funds schemes offered by different AMCs are given below:

Tax Saving Mutual Fund Schemes

Here is the list of top performing ELSS mutual funds schemes:

• Sundaram Long Term Micro Cap Tax Advantage Fund - Series IV - Regular Plan - Growth
• Sundaram Long Term Micro Cap Tax Advantage Fund - Series III - Regular Plan - Growth
• Invesco India AGILE (Alpha Generated from Industry Leaders) Tax Fund - Growth
• BOI AXA Tax Advantage Fund - Regular Plan - Growth
• Principal Tax Savings Fund
• Taurus Tax Shield - Regular Plan - Growth
• SBI Long Term Advantage Fund - Series II - Regular Plan - Growth
• Escorts Tax Plan - Growth
• Principal Personal Tax Saver Fund
• SBI Tax Advantage fund - Series II - Growth
• Aditya Birla Sun Life Tax Plan - Dividend
• Aditya Birla Sun Life Tax Relief 96 - (ELSS US 80C of IT ACT) - Dividend
• SBI Long Term Advantage Fund - Series I - Regular Plan - Growth
• Tata India Tax Savings Fund - Regular Plan - Dividend Pay
• IDBI Equity Advantage Fund - Regular Plan - Growth
• UTI Long Term Advantage Fund - Series V - Growth
• UTI Master Equity Plan Unit Scheme
• Reliance Tax Saver (ELSS) Fund - Growth
• ICICI Prudential Long Term Equity Fund (Tax Saving) - Growth
• Union Tax Saver Scheme - Growth
• Canara Robeco Equity Tax Saver Fund - Regular Plan - Dividend
• SBI Magnum TaxGain Scheme 1993 - Regular Plan - Dividend
• UTI Long Term Advantage Fund - Series II - Growth
• UTI Long Term Equity Fund (Tax Saving) - Income
• Reliance Equity Linked Saving Fund - Series I - Growth
• Sundaram Long Term Micro Cap Tax Advantage Fund - Series V - Regular Plan - Growth
• Invesco India Tax Plan - Growth
• L&T Long Term Advantage Fund - Series I - Cumulative
• LIC MF Tax Plan - Growth
• HDFC Long Term Advantage Fund - Growth
• SBI Tax Advantage Fund - Series I - Growth
• Mahindra Mutual Fund Kar Bachat Yojana - Regular Plan - Growth
• Sundaram Long Term Tax Advantage Fund - Series I - Regular Plan - Growth
• L&T Tax Saver Fund - Cumulative
• IDFC Tax Advantage (ELSS) Fund - Regular Plan - Growth
• Aditya Birla Sun Life Tax Savings Fund - Growth
• Motilal Oswal MOSt Focused Long Term Fund - Regular Plan - Growth
• Peerless Long Term Advantage Fund - Regular Plan - Growth
• UTI Long Term Advantage Fund - Series III - Growth
• Sahara Tax Gain Fund - Growth
• Mirae Asset Tax Saver Fund - Regular Plan - Growth
• L&T Tax Advantage Fund - Regular Plan - Growth
• Edelweiss ELSS Fund - Regular Plan - Growth
• DSP Black Rock Tax Saver Fund - Regular Plan - Growth
• SBI Tax Advantage fund - Series III - Regular Plan - Growth
• Kotak Tax Saver Scheme - Growth
• DHFL Pramerica Long Term Equity Fund - Regular Plan - Growth
• Baroda Pioneer Equity Linked Saving Scheme 96
• Sundaram Diversified Equity - Dividend
• HSBC Tax Saver Equity Fund - Growth
• SBI Long Term Advantage Fund - Series IV - Regular Plan - Growth
• ICICI Prudential RIGHT (Rewards of Investing and Generation of Healthy Tax Savings) Fund - Growth
• DHFL Pramerica Tax Plan - Growth
• Tata Infrastructure Tax Saving Fund - Growth
• BNP Paribas Long Term Equity Fund - Growth
• UTI Long Term Advantage Fund - Series IV - Growth
• JM Tax Gain Fund - Growth
• Sundaram Long Term Tax Advantage Fund - Series II - Regular Plan - Growth
• Axis Long Term Equity Fund - Growth
• Edelweiss Tax Advantage Fund - Regular Plan - Growth

Disclaimer - Mutual Funds are subject to market risks. Please read the scheme related documents carefully before investing.