Tax season is here, and if you’re searching for the best tax-saving mutual funds, then ELSS Mutual Funds should be on your radar. These funds not only help you save taxes but also offer a chance to grow your wealth through equity investments.
What Makes ELSS Mutual Funds the Best Tax-Saving Option?
1. Tax Savings: Claim deductions up to ₹1.5 lakh under Section 80C
2. Short Lock-in Period: Only 3 years, compared to 5-15 years for other tax-saving options
3. Better Returns: Potentially higher returns than FDs, PPF, and NSC
4. Flexibility: Invest via SIP or lumpsum at your convenience
Top 10 ELSS Funds in 2024
Wondering which are the best ELSS funds? Here’s a list of the top 10 ELSS funds based on performance:
1. Mirae Asset Tax Saver Fund
2. Axis Long-Term Equity Fund
3. Canara Robeco Equity Tax Saver Fund
4. Quant Tax Plan
5. DSP Tax Saver Fund
6. Nippon India Tax Saver Fund
7. Kotak Tax Saver Fund
8. ICICI Prudential Long-Term Equity Fund
9. SBI Long-Term Equity Fund
10. HDFC Tax Saver Fund
How to Pick the Best ELSS Mutual Funds?
1. Compare past returns – Look at 3-year and 5-year CAGR
2. Fund manager expertise – A strong manager ensures better performance
3. Expense ratio – Lower expense ratio = higher returns
4. Diversification – A good mix of large, mid, and small-cap stocks
Final Thoughts
If you want to save tax and build wealth at the same time, investing in ELSS mutual funds is a great choice. Picking from the top 10 ELSS funds ensures you get the best-performing options.
Which ELSS fund do you prefer for tax saving? Let’s discuss!
What Makes ELSS Mutual Funds the Best Tax-Saving Option?
1. Tax Savings: Claim deductions up to ₹1.5 lakh under Section 80C
2. Short Lock-in Period: Only 3 years, compared to 5-15 years for other tax-saving options
3. Better Returns: Potentially higher returns than FDs, PPF, and NSC
4. Flexibility: Invest via SIP or lumpsum at your convenience
Top 10 ELSS Funds in 2024
Wondering which are the best ELSS funds? Here’s a list of the top 10 ELSS funds based on performance:
1. Mirae Asset Tax Saver Fund
2. Axis Long-Term Equity Fund
3. Canara Robeco Equity Tax Saver Fund
4. Quant Tax Plan
5. DSP Tax Saver Fund
6. Nippon India Tax Saver Fund
7. Kotak Tax Saver Fund
8. ICICI Prudential Long-Term Equity Fund
9. SBI Long-Term Equity Fund
10. HDFC Tax Saver Fund
How to Pick the Best ELSS Mutual Funds?
1. Compare past returns – Look at 3-year and 5-year CAGR
2. Fund manager expertise – A strong manager ensures better performance
3. Expense ratio – Lower expense ratio = higher returns
4. Diversification – A good mix of large, mid, and small-cap stocks
Final Thoughts
If you want to save tax and build wealth at the same time, investing in ELSS mutual funds is a great choice. Picking from the top 10 ELSS funds ensures you get the best-performing options.
Which ELSS fund do you prefer for tax saving? Let’s discuss!