rajesh under80c of incometax act a maximum of1lac is allowed the following deductions are covered EPF,GPF, certain bank fd`s for this specific purpose, PPF,NSC,lifeinsurance premiums for self,spouse&dependents,principle of housing loan etc hence after deducting all these investments u can invest the balance in MAGNAMtax gain 93 which is the best over longer periods i happento be a mutualfund advisor known as IFA