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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Tax saving mutual funds
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Claim this under 80C within overall limit of Rs 150000/-
You can claim Deduction under Section 80C of the Income Tax Act 1961 upto Rs. 1,50,000/-
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.
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.
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