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Tax saving mutual funds

Archana (Taxpayer) (41 Points)

22 August 2019

i have invested in tax saving mutual funds like sbi magnum tax saving scheme direct plan growth. can i claim deduction under 80C or 80CCG?

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4 Replies

Kapadia Pravin (17259 Points)
Replied 22 August 2019

Claim this under 80C within overall limit of Rs 150000/-

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Shivam RC (Student) (23683 Points)
Replied 22 August 2019

You can claim Deduction under Section 80C of the Income Tax Act 1961 upto Rs. 1,50,000/-

1 Like

Suresh Thiyagarajan (Student) (3986 Points)
Replied 22 August 2019

1. Yes, you can claim deductions u/s 80C it will be considered as allowable deductions with a maximum deduction of Rs. 1.5 lakhs.
Please correct me if the above solution has an alternative view.

Arnav Rathod (4 Points)
Replied 23 August 2024

Get a clear explanation of Tax Saving Mutual Funds and how they can help you achieve your financial objectives. Our guide covers how to choose the right funds to save on taxes and align them with your long-term financial plans.