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Top 6 ELSS schemes this week to saving tax

Explore the 6 Equity Linked Savings Schemes to saving tax
Top 6 ELSS schemes this week to saving tax
ELSS schemes

Income-tax advantages are available on ELSS investments up to Rs 1.5 lakh. Over the long term, say 7-10 years, data suggests that ELSS have shown to be just as advantageous as any diversified equities fund. The ELSS category provided a compounded annualised return of 12.8 percent, whereas the Nifty 500 – TRI returned 11.9 percent, according to 10-year rolling returns estimated from the past twelve years' NAV data. Two of these funds are included in the MC30, a handpicked collection of the top mutual fund (MF) schemes. The best ELSS plans that beat the barometer indexes in most of the last 10 years while incurring minimum risk are listed below.

Top 6 ELSS schemes

  1. Canara Rob Equity Tax Saver
  2. Kotak Tax Saver
  3. Tata India Tax Savings
  4. Axis Long-Term Equity Fund
  5. IDFC Tax Advantage Fund
  6. Invesco India Tax

Canara Rob Equity Tax Saver has been included in the MC30 basket because of its consistent ability to provide higher returns while assuming a lesser risk. It had a 10-year average rolling return of 13.5 percent based on the last twelve years' NAV data. Unlike its counterparts, it has a high churning history, which has enabled it adapt to market shifts in order to optimise returns.


Kotak Tax Saver, which is part of the MC30, has been a consistent performer across market cycles and paces. The scheme's long-term performance has been aided by careful stock selection. It had a 10-year average rolling return of 12.7 percent based on the last twelve years' NAV data.

Tata India Tax Savings has been one of the most consistent performers among the ELSS. It is a real flexicap fund that actively juggles between big, mid, and smallcap firms. It had a 10-year average rolling return of 13.7 percent based on the last twelve years' NAV data.

With approximately 32,052 crore in assets (as of March 2022), Axis Long-Term Equity is the largest ELSS fund. Since its inception, it has consistently outperformed its rivals and benchmark. The programme has generated a compounded annualised growth rate (CAGR) of 17 percent, as assessed by 10-year rolling returns estimated from the previous twelve years' NAV history. The fund's portfolio is fairly concentrated across industries.

The IDFC Tax Advt(ELSS) Fund is the one that has been allocating more to mid- and small-cap companies. Returns in rallies were spiced up thanks to it. It has provided a 14.3 percent CAGR over the last ten years, according to the 10-year rolling returns estimated from the last twelve years' NAV record.

Despite the fact that Invesco India Tax employs a flexicap strategy, it favours largecap equities. The high-quality bluechip equities account for at least two-thirds of the portfolio. This contributed to a well-balanced return over time. It has provided a CAGR of 14.5 percent over the last ten years, according to 10-year rolling returns estimated from the last twelve years' NAV data.