Best tax-saving mutual funds in 1 year: 11 ELSS schemes with over 14% returns

Top Tax Saving ELSS Mutual Funds in 1 Year (May 2023): Several tax-saving mutual fund schemes have managed to give a better return than their respective benchmark indexes in one year. Data on the website of the Association of Mutual Funds in India (AMFI) at the time of writing shows that direct plans of 11 ELSS funds have given a return of over 14% in one year to investors. Also, there are only 5 tax saving funds that have given less than 10% returns in one year, with the lowest being 5.03% under the direct plan of Aditya Birla Sun Life Tax Relief 96 Fund.

There are also 29 tax-saving schemes that have given double-digit returns of over 10% under their direct plans. Following is a list of the top 11 tax-saving ELSS funds that have given over 14% returns in one year.

Motilal Oswal Long Term Equity Fund

The direct plan of Motilal Oswal Long Term Equity Fund has given a return of 19.19% while the regular plan has given a return of 17.73% in one year. The scheme tracks NIFTY 500 Total Return Index, which has given a return of 10.15% in one year.

SBI Long Term Equity Fund

The direct plan of SBI Long Term Equity Fund has given a return of 18.35% while the regular plan has given a return of 17.62% in one year. The scheme tracks S&P BSE 500 Total Return Index, which has given a return of 10.29% in one year.

Also Read: Best Performing Flexi Cap mutual funds in 1 year: 12 schemes with over 10% returns

HDFC Taxsaver Fund

The direct plan of HDFC Taxsaver Fund has given a return of 17.90% while the regular plan has given a return of 17.16% in one year. The scheme tracks NIFTY 500 Total Return Index, which has given a return of 10.15% in one year.

Parag Parikh Tax Saver Fund

The direct plan of Parag Parikh Tax Saver Fund has given a return of 16.49% while the regular plan has given a return of 14.95% in one year. The scheme tracks NIFTY 500 Total Return Index, which has given a return of 10.15% in one year.

ITI Long Term Equity Fund

The direct plan of ITI Long Term Equity Fund has given a return of 16.38% while the regular plan has given a return of 14.10% in one year. The scheme tracks NIFTY 500 Total Return Index, which has given a return of 10.15% in one year.

Also Read: Best Mid Cap Mutual Funds in 1 year: 9 schemes with over 11% returns

Kotak Tax Saver Fund

The direct plan of Kotak Tax Saver Fund has given a return of 15.76% while the regular plan has given a return of 14.23% in one year. The scheme tracks NIFTY 500 Total Return Index, which has given a return of 10.15% in one year.

Bank of India Tax Advantage Fund

The direct plan of Bank of India Tax Advantage Fund has given a return of 15.69% while the regular plan has given a return of 14.33% in one year. The scheme tracks S&P BSE 500 Total Return Index, which has given a return of 10.29% in one year.

Mahindra Manulife ELSS Fund

The direct plan of Mahindra Manulife ELSS Fund has given a return of 14.24% while the regular plan has given a return of 12.29% in one year. The scheme tracks NIFTY 500 Total Return Index, which has given a return of 10.15% in one year.

IDBI Equity Advantage Fund

The direct plan of IDBI Equity Advantage Fund has given a return of 14.46% while the regular plan has given a return of 13.09% in one year. The scheme tracks NIFTY 500 Total Return Index, which has given a return of 10.15% in one year.

Also Read: Top 5 Small Cap Funds with two times more returns than FD in 1 year (May 2023)

Taurus Tax Shield Fund

The direct plan of Taurus Tax Shield Fund has given a return of 14.39% while the regular plan has given a return of 13.61% in one year. The scheme tracks NIFTY 500 Total Return Index, which has given a return of 10.15% in one year.

JM Tax Gain Fund

The direct plan of JM Tax Gain Fund has given a return of 14.43% while the regular plan has given a return of 13.34% in one year. The scheme tracks S&P BSE 500 Total Return Index, which has given a return of 10.29% in one year.

(Disclaimer: The above content is for information purposes only based on AMFI website data as of May 8, 2023. Mutual Funds are subject to market risks. There is no assurance or guarantee that the above funds will give the same returns in future. Investors are advised to consult their financial advisors before investing)