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Old 04-18-2010, 05:59 AM
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Default Top 10 Mutual Fund (ELSS) schemes to save taxes

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The main purpose of investing for most investors is tax saving. Equity linked saving schemes (ELSS) are those mutual fund schemes that help you save taxes as well as generate decent returns. But, how do you separate the wheat from the chaff? Here is a list of few ELSS schemes that you should consider for investing






The main purpose of investing for most investors is tax saving. Equity linked saving schemes (ELSS) are those mutual fund schemes that help you save taxes as well as generate decent returns. But, how do you separate the wheat from the chaff? Here is a list of few ELSS schemes that you should consider for investing.


The true measure of ELSS scheme’s worth is consistency. Following four ELSS schemes make the cut based on their 5 years, 3 years and 1 year performance put together (see tables). These schemes have remained in the Top 10 ELSS schemes for all these durations :
  • Canara Robeco Equity Tax Saver
  • HDFC Taxsaver
  • Sahara Tax Gain
  • Birla Sun Life Tax Relief 96
Investment in ELSS schemes qualify for deductions under section 80C. So, you could max your returns by investing the entire Rs 1 lakh limit of your Section 80C deductions through ELSS investments alone. However, be cautious as ELSS schemes have a risk grade higher than other investments that qualify under section 80C such as life insurance, PPF, NSC, etc.

Another important factor to consider is the lock-in period. ELSS schemes have a 3 year lock-in, that means you can not sell the investment before this period.


Top 10 Tax Saving Mutual Funds (ELSS)

The following 3 tables lists the Top 10 ELSS Schemes in descending order of their 5 years, 3 years and 1 year returns. This may help you in selecting the best ELSS scheme for your needs.
ELSS Schemes Ranking based on 5 Year Returns

Rank
Fund Name
Return (%)
NAV for Plan
NAV as on Date
1 Year
3 Year
5 Year
Dividend
Growth
1
Magnum Taxgain
93.29
10.05
32.03
44.4
59.05
11-Jan-2010
2
Canara Robeco Equity Tax Saver
97.08
19.21
28.82
20.29
22.28
11-Jan-2010
3
Sundaram BNP Paribas Taxsaver
81.83
15.64
28.04
15.03
43.92
11-Jan-2010
4
HDFC Taxsaver
106.03
11.2
27.09
62.36
200.48
11-Jan-2010
5
Sahara Tax Gain
96.88
16.63
25.99
18.99
33.33
11-Jan-2010
6
ICICI Prudential Tax Plan
120.85
9.38
24.52
18.51
124.12
11-Jan-2010
7
Franklin India Taxshield
86.18
13.3
23.67
32.85
181.84
11-Jan-2010
8
Birla Sun Life Tax Relief 96
111.64
10.74
22.39
88.66
10.99
11-Jan-2010
9
Franklin India Index Tax
79.82
9.33
21.39
40.2
n/a
11-Jan-2010
10
Principal Personal Tax Saver
93.44
9.76
21.22
91.44
n/a
11-Jan-2010


ELSS Schemes Ranking based on 3 Year Returns

Rank
Fund Name
Return (%)
NAV for Plan
NAV as on Date
1 Year
3 Year
5 Year
Dividend
Growth
1
Taurus Tax Shield
106.56
22.69
18.84
23.93
32.76
11-Jan-2010
2
Canara Robeco Equity Tax Saver
97.08
19.21
28.82
20.29
22.28
11-Jan-2010
3
Sahara Tax Gain
96.88
16.63
25.99
18.99
33.33
11-Jan-2010
4
Sundaram BNP Paribas Taxsaver
81.83
15.64
28.04
15.03
43.92
11-Jan-2010
5
Religare Tax Plan
91.49
15.54
n/a
12.86
15.53
11-Jan-2010
6
Fidelity Tax Advantage
91.58
14.11
n/a
16.61
18.5
11-Jan-2010
7
Franklin India Taxshield
86.18
13.3
23.67
32.85
181.84
11-Jan-2010
8
HDFC Taxsaver
106.03
11.2
27.09
62.36
200.48
11-Jan-2010
9
Birla Sun Life Tax Relief 96
111.64
10.74
22.39
88.66
10.99
11-Jan-2010
10
Magnum Taxgain
93.29
10.05
32.03
44.4
59.05
11-Jan-2010


ELSS Schemes Ranking based on 1 Year Returns

Rank
Fund Name
Return (%)
NAV for Plan
NAV as on Date
1 Year
3 Year
5 Year
Dividend
Growth
1
ICICI Prudential Tax Plan
120.85
9.38
24.52
18.51
124.12
11-Jan-2010
2
Birla Sun Life Tax Relief 96
111.64
10.74
22.39
88.66
10.99
11-Jan-2010
3
ING Tax Savings
107.18
-0.97
17.56
13.09
26.54
11-Jan-2010
4
DBS Chola Tax Saver
106.86
3.63
n/a
14.28
15.37
11-Jan-2010
5
Taurus Tax Shield
106.56
22.69
18.84
23.93
32.76
11-Jan-2010
6
HDFC Taxsaver
106.03
11.2
27.09
62.36
200.48
11-Jan-2010
7
Canara Robeco Equity Tax Saver
97.08
19.21
28.82
20.29
22.28
11-Jan-2010
8
Sahara Tax Gain
96.88
16.63
25.99
18.99
33.33
11-Jan-2010
9
DSPBR Tax Saver
95.48
n/a
n/a
11.46
15.4
11-Jan-2010
10
HDFC LT Advantage
93.77
8.01
20.66
38.26
117.3
11-Jan-2010

Data Source : Value Research Online


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