When it comes to investments, one of the key parameters or factors that individuals think about is tax saving. Equity-linked savings schemes are one of the most popular tax-saving investments in India and are always a hot topic of discussion among investors. ELSS funds are mutual funds that invest in equities but exist under the category of tax-saving investments under Section 80C of the Income Tax Act. A lock-in period of three years, while helping you in tax-saving ELSS funds, also has an element of wealth building, as it is an equity exposure. In this blog, we will explain the top 10 ELSS funds that offer the maximum benefits of tax exemptions and savings. Mirae Asset Tax Saver Fund is an open-ended, equity-linked savings scheme that is eligible to enjoy the benefits of Section 80C of the IT Act. This fund has been quite good when it comes to returns and therefore one of the better ELSS funds out there. The fund has its investment objective as the achievement of long-term increases in value in equity and equity-related securities. Another ELSS fund that qualifies for tax exemption benefits of section 80C is the Axis Long-Term Equity Fund. The fund invests predominantly in equity and related instruments with a view of earning capital growth over the long run. It is one of the most popular mutual fund schemes with a long, appreciable record of sustained performance and high tax savings & advantages. They are one of the best ELSS mutual funds, and you get a tax cut as per section 80C. The fund’s aim, although similar to that of most mutual funds, is to provide long-term capital appreciation through investment in equity and related products. This fund shows great consistency and, along with that, a good practice of managing risk, which fully supports maximum tax saving and benefit for the investors. HDFC TaxSaver Fund is one of the oldest ELSS funds launched, and it also comes under section 80C of the IT act. The overall objective of the fund is to deliver capital appreciation through investment in equities and equity-related securities. HDFC TaxSaver Fund is the top ELSS fund with a fixed focus on consistent returns and risks, providing maximum tax savings and benefits. ICICI Prudential Long Term Equity Fund is an open-ended, equity-linked saving scheme under section 80C of the IT act. The fund aims to achieve long-term capital appreciation through investment in a suitably diversified portfolio of equity and equity-related instruments. That is why, having a track record of actual performance, an investor can choose this fund for maximum tax savings and more. Kotak Tax Saver Fund is an open-end equity-linked saving scheme under section 80C. The fund mainly purchases and sells equity and equity related securities in order to seek capital appreciation in the long term with a combination of different types of securities. Being an ELSS fund for tax gains, the Kotak Tax Saver Fund has a proper risk management portfolio with a focused, steady return. SBI Magnum TaxGain ELSS Fund is an open mutual fund scheme—an equity-linked saving scheme with tax benefits u/s 80C. The fund invests primarily in equity or equity-related securities to actively make long-term capital gains for the investors. Due to the high performance history, this fund is one of the most popular among investors who are looking for maximum tax savings and other benefits. Franklin India Taxshed is essentially an open-ended, capital-protected income plan with equity-linked investment, which can be used to avail Section 80C tax exemption. Its investment objective is to, through a substantial portion of the fund’s assets, invest in equity and equity-related securities in order to achieve long-term capital appreciation. Franklin India Taxshield is among the top-performing ELSS funds that highlight more on risk management and consistent returns to help investors to get maximum tax benefits and more. Canara Robeco Equity Tax Saver Fund is an open-ended, equity-related, tax-saving mutual fund that offers tax-saving benefits of Section 80C. It is an open-end investment company that invests in equity and the related securities in order to achieve capital appreciation in the long run and diversify its portfolio. This excellent-performing fund is ideal for the maximum tax savings and benefits for the investors. PGIM India Tax Savings Fund is an open-end equity-like savings scheme providing savings tax benefits under section 80C. Primarily, it invests in equity and equity-related products across the globe in order to achieve sustainable capital growth. PGIM India Tax Savings Fund qualifies as one of the best ELSS funds to save maximum tax and earn more if you opt for a low-risk approach along with steady and assured returns. ELSS funds are one of the most sought-after tax-saving investment avenues in the country. Hence, by choosing the better ELSS mutual fund schemes, investors can save on taxes but get better wealth creation through exposure to stock markets.1. Mirae Asset Tax Saver Fund
2. Axis Long Term Equity Fund
3. DSP BlackRock Tax Saver Fund
4. HDFC TaxSaver Fund
5. ICICI Prudential Long Term Equity Fund: Details of Scheme.
6. Kotak Tax Saver Fund
7. SBI Magnum TaxGain ELSS Fund
8. Franklin India Taxshield
9. Canara Robeco Equity Tax Saver Fund is an open-end equity fund incorporated in India.
10. PGIM India Tax Savings Fund
Conclusion