Top 10 mutual funds for Section 80C deduction with 27% to 42% SIP returns in 3 years
Top-performing Tax Saving Mutual Funds in 3 years (till July 20, 2023): Investments up to Rs 1.5 lakh per year in an Equity-Linked Savings Scheme (ELSS) qualify for deduction under Section 80C of the Income Tax Act. These schemes are also known as tax-saving mutual funds.
Data on the website of the Association of Mutual Funds in India (AMFI) at the time of writing shows that direct plans of as many as 13 tax-saving funds have given over 27% annualised returns in 3 years. These schemes have also beaten their respective benchmark indices in three years. Of these, 10 ELSS funds have given 27.7% or more annualised returns under the direct plan in three years.
The regular plans of these schemes have also given over 26% annualised returns in three years. Following is the list of 10 such schemes, as per AMFI data tracked till July 20.
Nippon India Tax Saver (ELSS) Fund
The direct plan of Nippon India Tax Saver (ELSS) Fund has given 27.73% returns in 3 years while the regular plan has given 26.83% returns in 3 years. The scheme tracks NIFTY 500 Total Return Index, which has given 25.10% returns in 3 years.
Parag Parikh Tax Saver Fund
The direct plan of Parag Parikh Tax Saver Fund Fund has given 27.79% returns in 3 years while the regular plan has given 26.19% returns in 3 years. The scheme tracks NIFTY 500 Total Return Index, which has given 25.10% returns in 3 years.
Also Read: Best Small Cap Mutual Funds in 3 years (July 2023): Top 11 schemes with 43% to 58% SIP returns
HDFC Taxsaver Fund
The direct plan of HDFC Taxsaver Fund has given 27.88% returns in 3 years while the regular plan has given 27.11% returns in 3 years. The scheme tracks NIFTY 500 Total Return Index, which has given 25.10% returns in 3 years.
PGIM India
Read more on financialexpress.com
