Section 80C Tax Saving Instruments

Section 80C Investments These instruments / expenses reduce your taxable income and give you tax benefit These Instruments reduce your taxable salary by up to Rs. 1 lakh, and that in turn reduces your tax llability Housing Loan Repayment ULIP Life Insurance Premium PPF NSC Notified Pension Funds Equity Insurance Fixed Income Expenses Fixed Deposits Category & Lock In Period Instrument Lock in period ELSS Equity mutual fund Pension Plans Fixed Income Tax Saving FD Fixed Income NSC Fixed Income PPF Fixed Income Lock in period for ULIPs & Insurance varies Other Options Instrument Description Bonds that reduce Rs. 20,000 taxable income over and above 80C. 80CCF Infra Bonds Fixed Income Mediclaim insurance for you and your parents - Rs. 15,000 each can be reduced. 80D Insurance Insurance 8ODD Disabled Dependent Expense Expenses incurred on the upkeep of a disabled dependent capped at either Rs. 50,000 or Rs. 1,00,000 Repayment of interest on education loan is allowed as deduction 80E Education Loan Expense 24 Housing Loan Expense Repayment of interest on housing loan up to a limit of Rs. 1,50,000 Certain donations are deductible 80G Donations Expense subject to 10% of your income ONEMINT Children's Tuition Fee ELSS Mutual Funds