Best Tax Saving Mutual Funds In 2017 | ELSS Tax Saving Mutual Funds

Best Tax Saving Mutual Funds

The growth of money formed as savings, can be done through a market instrument, a mutual fund is an uncomplicated type of investment through which you are eligible to save tax under section 80c. These Funds are useful for employees as well as businessmen who have a desire to save income tax. We have done extensive analysis and research to discover Best Tax Saving Mutual Funds in 2017. Before proceeding further, let introduced ELSS Tax Saving Mutual Funds.

Best Tax Saving Mutual Funds In 2017

  • Axis Long Term Equity Fund
  • Reliance Tax Saver Fund
  • DSP BR Tax Saver Fund
  • Birla SL Tax Relief 96 Fund
  • Franklin India Tax Shield Fund
  • BNP Long Term Equity Fund
  • Invesco India Tax Fund

1

Axis Long Term Equity Fund

The main purpose of Axis Long Term Equity Fund is to produce ordinary long term capital growth from diversified portfolio equity & equity related securities. It is better to invest in MF Scheme by accompany having strong growth as well as sustainable business model.

Performance Of The Fund:

  • Axis Long Term Equity Fund is the Top-1 ELSS mutual fund which is mostly recommended and well performing time after time.
  • If the customer invests Rs 1,000 per month via SIP, the investment would be reach at Rs 60,000 within 5 years.
  • In first year it has produce 11.6% returns.
  • Previous five years it has generated 22% annualized returns. 

Reasons To Invest:

  • In the comparison of S&P BSE it provides 22% annualized returns within 5 years.
  • It is one of the best ELSS funds to purchase via SIP.

Read Now – How To Pay Income Tax In India?

Reliance Tax Saver Fund

The aim of this fund is to generate L/T capital appreciation from a stock portfolio. It means that invested predominantly in equity and equity related tool in India.

Performance Of The Fund:

  • It is rank among the top-2 mutual fund.
  • It is mostly recommend due to providing highest returns.
  • Previous year it paid 20% returns.
  • The previous five years it offered 21% annualized returns.
  • Investing Rs 1,000 per month through SIP, user will get Rs 60,000 within 5 years.

Reasons To Invest:

  • This fund is one of the best consistent performing taxes saving Fund.
  • Within 5 years you will get 21% annualized returns on comparing S&P BSE.

Know About – Income Tax Benefits On Home Loan

DSP BR Tax Saver Fund

This scheme aims to produce medium to long-term capital approval from a diversified stock portfolio of equity and equity related securities with the tax savings.

Performance Of The Fund:

  • If the investor invests Rs 1,000 per month the amount would be Rs 60,000 in 5 years
  • It ranks as top – 3 saving mutual fund.
  • It is providing superior returns again and again.

Reasons To Invest:

  • It is the well performer tax saver fund.
  • On comparing with NIFTY 500 the annualized returns is 20% in 5 years.
  • Benchmark annualized returns is around 13%.

You May Like To Read – Tax Benefits On Home Loan Interest

Birla SL Tax Relief 96 Fund

Birla SL Tax Relief 96 aims for long term capital approval through investing up to 80% in equity and balance in debt linked gadgets.

Performance Of The Fund:

  • It is top-4 tax saving mutual fund which you can invest in.
  • It has fund has produced 19% returns in previous year.
  • If the customer invest Rs 1,000 per month are applicable to get Rs 60,000 within 5 years.

Reasons To Invest:

  • It is a consistent performing ELSS Fund.
  • From last five years it provided 19% annualized returns.

Franklin India Tax Shield Fund

The main motive of this scheme to long term growth of capital along with income tax rebate and this scheme has good exposure to PSU Bonds, debentures and other debt associated apparatus.

Performance Of The Fund:

  • Franklin India Tax Shield Fund is the Top-5 tax saving mutual fund.
  • Investing in around Rs 1,000 per month through SIP, fund holder will attain been Rs 60,000 within 5 years.
  • This fund generated 16% returns previous year.

Reasons To Invest:

  • It is a consistent performing ELSS Fund.
  • It will give 19% annualized returns in comparison of NIFTY.

BNP Long Term Equity Fund

The purpose of BNP Long Term Equity is to obtain long term growth along through a tax rebate.

Performance Of The Fund:

  • It is top -6 mutual funds in which you can invest.
  • This fund produce has produced 11% returns in last year.
  • If you have desire to invest Rs 1,000 per month the investment value would have grown to Rs 98,000.

Reasons To Invest:

  • It is a constantly well performing ELSS Fund.
  • It has given 19% annualized returns previous 5 years.

Know About – Rights Of A Mutual Fund Investor

Invesco India Tax Fund

Invesco India Tax Funds scheme aims to acquire capital appreciation and supply tax saving to fund holders.

The Performance Of The Fund:

  • It is top-7 tax saving mutual fund to invest.
  • In previous year it has produced 16% returns
  • It has generated 18% annualized returns in last 5 years.
  • If the investor invests 1,000 per month via SIP, he will acquire Rs 60,000.

Reasons To Invest:

  • It is also performing reliable ELSS Fund.
  • It will produce 18% annualized returns in 5 years.

Equity Linked Savings Scheme of Mutual Fund is one of the best taxes saving cum long-term wealth creation investment implement and if you invest in ELSS schemes you are adequate for income tax deduction as per Section 80c of IT Act. If you come under highest tax bracket of 30%, you can get a tax exemption of over Rs 45,000 in a financial year along with high-quality profits.

 

Leave a Reply

Your email address will not be published. Required fields are marked *