Top 5 Tax Saving ELSS Funds
1. Axis Long Term Equity Fund
Axis Long Term Equity Fund is one of the best in ELSS category. This is an Open-ended equity linked savings scheme with a 3-year lock-in. This scheme also features One of the lowest lock-in periods (3 years lock-in) amongst other tax saving instruments.
The scheme Provides tax benefits of up to Rs. 46,350* under section 80C of the Income Tax Act, 1961. This is highly Suitable for an investment horizon of at least 3-5 years or more. If you are an investor seeking capital appreciation over long term and consisting of equity and equity related instruments, then this is a good option for you.
2. Franklin India Tax Shield Fund
Franklin India Tax Shield Fund is another best option, which is suitable for Investors who are seeking Long term capital appreciation. This is a top rated ELSS fund offering tax benefits under Section 80C of the Income Tax Act. Franklin India Tax Shield Fund Is an open end equity linked savings scheme. This feature tax rebate with at least 80% allocation to equities.
This works with objective to provide medium to long term growth of capital along with income tax rebate. This is an An open end equity linked savings scheme (ELSS) suitable for investors who would like to take advantage of upto Rs 1.5 lac deduction allowed under Sec 80 C. This is subject to a lock in period of 3 years.
3. ICICI Prudential Tax Plan – Regular Plan
This is another best ELSS category. Objective of the plan is to generate long-term capital appreciation by investing in equity and equity related securities of technology intensive companies. This is an Open-ended Equity Linked Saving Scheme. You can save tax u/s 80C of Income tax Act.
By joining this scheme, you can enjoy benefits of investing in equity and also providing tax benefits. This fund has a lock-in period of 3 years. You have higher return and potential to earn tax-free dividend. Another appealing feature is no tax on long term capital gains on redemptions done after lock in period.
4. Reliance Tax Saver (ELSS)
Reliance Tax Saver (ELSS) is another best tax saving fund. This works with the objective of generating long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related instruments. This is a best option for investors who are seeking Long term capital growth and Investment in equity and equity related securities.
5. Birla Sunlife Tax Plan
Birla Sunlife Tax Plan is an An Open ended Equity Linked Savings Scheme (ELSS) with a lock-in of 3 years). This is a best option for investors who need long term capital growth and wish to do investments in equity and equity related securities, with tax benefit under section 80C, subject to eligibility.