6 Best Tax Saving ELSS To Invest in 2017

The lock in period for ELSS investment is minimum 3 years, which is the lowest for any tax saving scheme.

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Equity linked Savings Scheme (ELSS) are one of the best financial instruments providing capital appreciation along with tax benefits. ELSS invests in equity linked mutual funds making it an attractive instrument.

Individuals who are planning to invest in mutual funds can consider this option and can start with amount as small as Rs 500. Investment in ELSS will provide tax relief under Sec 80C of Income Tax Act.

The lock in period for ELSS investment is minimum 3 years, which is the lowest for any tax saving scheme.

Here are 6 best ELSS funds based on latest CRISIL ranking:

DSP BlackRock Tax Saver Fund

DSP BlackRock Tax Saver Fund is rated number one by CRISIL and Value Research has rated the fund as five- star. The portfolio comprises stocks like SBI, HDFC Bank and Infosys.

Individuals can start to invest in the fund with a sum of Rs 5,00 and a monthly sum of Rs 500 thereafter.

It has given 14.56 per cent return since inception of the fund. In the last three years the fund has generated a return of 25.14 per cent. While, it has given 20% annualized in last five year.

If a person has invested through SIP of Rs 1000 for 5 years, the investment will be Rs 60,000 and returns would be around Rs 107,000.

Tata India Tax Savings Fund

The Tata India Tax Savings Fund is an open ended equity linked tax saving scheme (ELSS) Fund is ranked number one by Crisil and has a four-star rating from Value Research Online.

The last three-year returns of the fund has been close to 24.40 per cent while on average each year, while the one-year return is around 15.55 per cent. Since inception of this fund it has given returns of around 20%.
The portfolio of the fund consists of stocks such as HDFC Bank, Yes Bank and Kotak Mahindra Bank.

 

Birla Sun Life Tax Plan

Birla Sun Life Tax Plan has been rated second by CRISIL, while Value Research Online has rated the fund as four-star. In the last three years the fund has generated a return of 24.20 per cent.

Since inception of this fund it has given returns of around 20%.

The portfolio comprises names like Sundaram Clayton, Honeywell Automation and Kotak Mahindra Bank.

Birla Sun Life Tax Relief 96

Birla Sun Life Tax Relief 96 has been rated number second by CRISIL, while Value Research Online has accorded it a four-star rating.

The fund has generated a return of 25 per cent on an average every year, in the last 3 years.

Interestingly, there is no exit load that is applicable on the fund and the minimum SIP Investment is Rs 500.

The portfolio comprises names like ICICI Bank and Honeywell Automation

IDBI Equity Advantage Fund

IDBI Equity Advantage Fund is ranked number second by Crisil and five-star rating by Value Research Online. The Fund was launched in 2013 and has given a return of 27.99 per cent since its launch.

The portfolio of the fund is strong and hence those looking at long term returns, could go in for this fund.
The last three-year returns of the fund has been close to 27.22 per cent. The fund is benchmarked against S&PBSE 200.

The portfolio of the fund consists of stocks like Cholamandalam Invest. & Fin, Eicher Motors TVS Motor and MRF.

Invesco India Tax Plan

Invesco India Tax Plan is ranked number two by Crisil and four-star rating by Value Research Online. The minimum SIP Investment that can be made is Rs 500.

The last three-year returns of the fund has been close to 23 per cent on an average each year.

The Fund was launched in 2006 and has given a return of 14.59 per cent on an average each year since its launch.

The portfolio of the fund consist of stocks like HDFC Bank, Hero Moto Corp, and Infosys.

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