How to Save Income Tax

Section 80C
  • Equity mutual funds

  • PPF

  • NSC

  • NPS

  • Home loan principal payment

Section 80D
  • Health insurance for family upto Rs 25,0000 and Rs 30,000 for senior citizens.

  • Additional waiver for health insurance bought for parents upto Rs 25,000 and Rs 30,000 if parents are senior citizens

Section 80CCD(2)
  • Employer contribution to NPS upto 10% of basic.

Section 80CCD(1B)
  • Self contribution to NPS upto Rs 50,000

Section 24
  • Home loan interest payment upto Rs 2,00,000

  • Additionally you can save tax on donation , house rent,conveyance, education loan interest payment etc