Where to invest to save tax? Take a look at these top-performing ELSS funds

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Taxpayers can save tax under various sections through investments, the most popular being ₹1.5 lakhs under Section 80c. ELSS funds are one of the investment options. A look at the list of top ELSS funds, compiled by Sharekhan by BNP Paribas

1/9Due to their tax-saving nature, Equity Linked Savings Scheme(ELSS) are also mentioned as Tax Saving Mutual Funds. These tax saving instruments are popular among those who want to save on their section 80C tax deductions.

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2/9Amid market volatility induced due to global headwinds and economic slowdown, the stock market continues to oscillate between its bearish and bullish phase in the new year. That makes mutual fund investing even more important for investors who cannot track markets. Know about the top-performing ELSS funds recommended by Sharekhan by BNP Paribas for 2023

3/9ICICI Prudential Long Term Equity Fund(Tax Saving)-Reg: Growth | Absolute 6-month return: 12.9%; 1 year Compounded annualised return: 7.5%; AUM: ₹10,564 crore; NAV: ₹631; Return since inception: 19.5%

4/9DSP Tax Saver Fund- Growth | Absolute 6-month return: 13.2%; 1 year Compounded annualised return: 8.7%; AUM: ₹10,715 crore; NAV: ₹86; Return since inception: 14.5%

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5/9HDFC Taxsaver: Growth | Absolute 6-month return: 17.0%; 1 year Compounded annualised return: 15.8%; AUM: ₹10,354 crore; NAV: ₹848; Return since inception: 23.4%

6/9IDFC Tax Advantage(ELSS) Fund- Growth | Absolute 6-month return: 12.8%; 1 year Compounded annualised return: 11.4%; AUM: ₹4,091 crore; NAV: ₹105; Return since inception: 18.3%

7/9Kotak Tax Saver Fund (Reg)- Growth | Absolute 6-month return: 15.5%; 1 year Compounded annualised return: 10.3%; AUM: ₹3,163 crore; NAV: ₹78; Return since inception: 12.8%

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8/9Mirae Asset Tax Saver Fund (Reg)- Growth | Absolute 6-month return: 11.7%; 1 year Compounded annualised return: 5.6%; AUM: ₹14,255 crore; NAV: ₹33; Return since inception: 18.6%

9/9Canara Robeco Equity Tax Saver Fund- Growth | Absolute 6-month return: 14.0%; 1 year Compounded annualised return: 6.0%; AUM: ₹4,583 crore; NAV: ₹122; Return since inception: 19.8%