Double advantage: Tax savings, up to 22% return, benefit those who invest in these 5 ELSS

Best Tax Saving Mutual Funds: Enthusiasm for tax-saving ELSS funds (ELSS) continues to grow. Some ELSS systems have achieved significant annual returns on SIP and lump sum investments over the past five years. An investment of Rs 1.5 lakh in ELLS funds is exempt from tax under Section 80C of the Income Tax Act. Also, the returns from mutual funds are better than traditional investment vehicles such as bank FDs. That’s why people are now investing in them who want tax savings and the best returns and aren’t afraid to take a little risk.

Before investing money in ELSS systems, investors should be aware that it is not necessary to make a profit every time investing money in them. Mutual fund investments are subject to market risks, so the money invested in them can also be lost. Today we present five such ELSS that have given investors returns of up to 24% over the past five years.

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quantitative tax system
According to data available as of June 23, 2023 on the Association of Mutual Funds in India (AMFI) website, Quant Tax Plan direct plan has returned investors 24.17 percent in five years and regular plan 22.24 percent bestows . This is the system with the highest return.

Canara Robeco Equity Tax Saver Fund
The Canara Robeco Equity Tax Saver Fund has also provided investors with tremendous returns over the past five years. The direct plan of this plan has brought investors a return of 16.59 percent in five years and the regular plan has a return of 15.30 percent.

Mirae Asset Tax Saver Fund
Investors putting money into the Mirae Asset Tax Saver Fund have also seen a sharp increase in their money over the past five years. The direct plan of this plan has produced a return of 16.78% in five years while the regular plan has produced a return of 15.17%.

Kotak Tax Savings Fund
Investors investing in the Kotak Tax Saver Fund have also made good gains over the past five years. Investors who put money into the Kotak Tax Saver Fund direct plan saw a return of 16.04 percent and those who put money into the regular plan saw a return of 14.58 percent.

Bank of India Tax Benefit Fund
The Bank of India Tax Advantage Fund direct plan has returned 15.47% in five years and the regular plan has returned 14.18%. This yield is also almost twice the yield of FD.

(Disclaimer: The mutual funds mentioned here are based on the advice of a financial advisor. If you are interested in investing in any of these funds, you should first consult with a certified investment advisor. News18 is not responsible for your gain or loss of any kind. Will not be taken care of.)

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