Latest News
-
1:4 Bonus Shares, Rs 7 Dividend: Big Update Announced; Buy The FMCG Stock? -
1:10 Stock Split: 1 Rs 980 Smallcap Has Split Into Ten Shares; Check Out New Price Level, Fundamentals! -
Rs 2.50/Share Final Dividend: Record Date In Due Course; Buy The ITC Group Stock? -
Rs 95/Share Dividend: Record Date On 28th June; Buy Mahindra Group Stock To Be Eligible? -
5 Bonus, Rs 28/Sh Dividend: IT Giant Infosys Beats Estimates In Q4FY24, But ADR Falls Sharply; Here's Why! -
1:10 Stock Split Approved: Small Cap Stock Issues Warrants, Shares Gain 111% YTD -
Wipro Q4 Results Preview: Weak Demand Likely To Drag Revenue Sequentially, EBIT Margins Seen Stable -
Rs 6/Share Final Dividend Declared: Buy The Blue Chip Stock To Be Eligible? -
TCS Vs Infosys: Dividend History And Upcoming Rewards, Which IT Giant Is Better? -
LIC New Jeevan Shanti 858 Plan: How To Earn Rs 10,000 Pension Per Month After Retirement? Check Eligibility!
3 Best Tax Saving Mutual Fund ELSS Schemes Rated No 1 By Crisil To Invest For Tax Savings
When it is tax savings schemes that investors consider from amongst mutual fund schemes, it has to be the Equity Linked Savings Schemes (ELSS). Here are 4 tax savings ELSS schemes that are rated No 1 by Crisil to consider for tax savings purposes. When we say best ELSS, it is largely based n Crisil ratings and not our own assessment.
Parag Parikh Tax Saver Fund
This fund has been rated No 1 by Crisil or as you call it, has a "5-star" rating from Crisil or as it were No 1. Parag Parikh Tax Saver Fund has given an annualized returns of 21% over the last 3-years. The fund has invested in some good quality bluechip stocks, including the likes of Housing Development Finance Corporation, Bajaj Holdings, Axis Bank, ICICI Bank, ITC, HCL Technologies etc.
A sum invested upto sum of Rs 1.5 lakhs, qualifies for exemption under Sec80C of the Income Tax Act. So, this could be an opportunity to have tax savings as well returns.
Quant Tax Plan
This is another fund that has a 5-star ratings from Crisil. The fund has generated a 3-year returns of 37% on an annualized basis. Those looking to save tax through investment in ELSS, can consider the Quant Tax Plan. There are good quality stocks in the portfolio of the company including names like State Bank of India, ITC, Ambuja Cements, Reliance and Adani Ports. There would be a lock-in of 3-years for ELSS schemes as per the current norms. A majority of the holdings of Quant Tax Plan is in largecap stocks, which comprise 63% of the holdings.
IDFC Tax Advantage Fund
This fund like the other two is also rated No 1 by Crisil. Again, it is a tax savings fund, which offers you some tax break. The 3-year returns from the fund has been 21% on an annualized basis. The fund size is around Rs 4000 crores. Some of the stocks in the portfolio of IDFC Tax Advantage Fund include names like ICICI Bank, State Bank of India, Infosys, HDFC Bank and Reliance Industries among others. There is a lock-in of 3-years in ELSS schemes, though we would advise against redeeming the units and looking at more of a long-term investment tenure in these instruments.
A few things to note
The above have been taken from the ratings of Crisil and are not our own recommendations. Investors may do their own research before investing. Past track record of the fund does not guarantee similar returns and markets are dynamic and hence investors should note that a fund performing today, may not necessarily outperform the markets tomorrow. Ideally, one should look for slightly longer term tenures when investing in mutual fund schemes.
