Equity Linked Saving Schemes (ELSS) are tax savings schemes which offer tax benefits under Sec 80C of the Income Tax Act. These set of instruments have a 3-year lock-in and since money is invested also in stocks, chances of getting higher returns is always probable. Investment made under ELSS qualify for tax benefits under Sec 80C of the income Tax Act.
Axis Long Term Equity Fund - Growth
The Fund has generated a return of almost 70 per cent in the last one year. The Net Asset Value of the fund is around Rs 29.22. The one year return from the fund is a huge 70 per cent, while the three year returns has been close to 37 per cent. The portfolio of the fund comprises some good quality names making the fund a good long-term bet.
DSPBR Tax Saver Fund-Reg (G)
The Fund like peers offers tax benefits under Sec 80C of the Income Tax Act for a sum up to Rs 1.5 lakhs. The net asset value or the NAV of the fund is Rs 31.22. The fund has given a return of almost 55 per cent in the last one year. It may always be difficult to replicate such high returns, but, if the market rises expect at least to get good returns.
HDFC Long Term Advantage Fund (G)
HDFC Long Term Advantage Fund is another star performer from the ELSS category. Like most of its peers the company has performed well thanks to a super run in the stock markets in the last one year. The Net Asset Value of the fund is Rs 238.53.
HSBC Tax Saver Eq Fund (G)
The HSBC Tax Saver has given a return of almost 54 per cent in the last one year. The portfolio comprises of some very good blue chip stocks. The fund looks attractive to save tax considering its past track record. The net asset value of the fund is around Rs 26.70
Religare Invesco Tax Plan(G)
Religare Invesco Tax Plan(G) is yet another super performer in its category. The fund has been performing well with returns of 56 per cent and 29 per cent in the last one and three years. Again, a good investment best for those seeking steady returns from ELSS.