Maximize your savings and take-home pay by leveraging these legal tax-saving pathways under the Income Tax Act.
1. Section 80C Deductions
You can claim deductions up to Rs 1.5 Lakhs by investing in PPF, EPF, ELSS mutual funds, National Savings Certificate (NSC), or payment of children’s school tuition fees.
2. Section 80D Health Insurance Premium
Protect your family and save tax. Deductions up to Rs 25,000 are available for premiums paid for self, spouse, and children, and an additional Rs 25,000/50,000 for parents.
3. NPS (National Pension System)
An additional deduction of up to Rs 50,000 is allowed under Section 80CCD(1B) for contributions made towards NPS, over and above the Section 80C limit.
