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What will you do with an extra Rs 45,000 in Tax Savings

If you fall in the 30% tax bracket (i.e. if you earn > Rs 10 lakhs p.a.), that’s how much you can save if you invest in Tax Saving Mutual Funds or popularly known as Equity Linked Savings Schemes ( ELSS Funds ) – That’s like Rs 45,000 of free money which you would have otherwise paid to the Government of India in taxes.

  • If you earn between Rs 2.5 to 5 lakhs, your tax slab is 10% and you can save ~ Rs 15,000 in taxes
  • If you earn between Rs 5 to 10 lakhs, your tax slab is 20% and you can save ~ Rs 30,000 in taxes

Find out more about Tax Saving Investment Options here >>

Based on our research, here are the top performing ELSS funds best suited for Tax Savings. Feel free to pick any that you wish to invest in.

Name 3 years return (%) 5 years return (%)
Reliance Tax Saver Fund 36.9% p.a. 21.8% p.a.
ICICI Prudential Tax Plan 28.7% p.a. 18.1% p.a.
DSP BlackRock Tax Saver Fund 28.8% p.a. 15.9% p.a.
HDFC Long Term Advantage Fund 25.5% p.a. 16.6% p.a.
IDFC Tax Advantage Fund 26.7% p.a. 16.6% p.a.
BSE Sensex 21.4% p.a. 10.6% p.a.

 

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