INCOME TAX SAVING TIPS

Deduction of LIC & Tuition fees

The maximum exemption limit is INR 1.5 lakh. There are various avenues like PPF, EPF, term insurance , NPS, etc that could be claimed under section 80C. Below is the complete list:

 Public Provident Fund 

 National Savings Certificate

 National Pension Scheme 

 Employees’ Provident Fund

 Tuition fees 

 Post Office tax saving deposits of five year

 Bank deposit 

 Life Insurance Premium

 Equity Linked Saving Schemes 

 Principal repayment of home loan