Tax eligibility of sip in 80c

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DHEERAJ BHATT

DHEERAJ BHATT (Querist)
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10 August 2017 I have invested in SIP in SBI magnum global fund-regular plan dividend. Can I claim deduction under 80c?

Trinadharao Adigarla

Trinadharao Adigarla (Expert)
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10 August 2017 YES, WE CAN CLAIM DEDUCTION U/S 80C

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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10 August 2017 No. Sbi magnum global fund is a elss . Any investment in this fund isn't eligible under 80c

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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11 August 2017 I am sorry. I meant sbi magnum global fund is NOT a elss. Any investment in this fund isn't eligible under 80C

ABHISHEK GARG

ABHISHEK GARG (Expert)
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11 August 2017 It depends on your fund.
From Primary observation it seems that investment in this fund is not allowable as deduction u/s 80C, however if the fund statement and Fund manager proofs that the same is a tax Saver Plan specifically covered under 80C then you can calim deduction u/s 80C.

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