Anil Rego |377 Answers |Ask -Follow
Financial Planner - Answered on May 31, 2021
I want to save income tax by availing some deductions. Can you please help me in choosing the right investment?
You can invest Rs 1.5 lakh under Section 80C of the Income Tax Act
Public Provident Fund (PPF)
National Savings Certificate (NSC)
Equity-linked savings schemes (ELSS)
80CCD Additional 50,000 for National Pension Fund
80D helps to claim deduction of 25,000 for health insurance premium paid for self and family. You can claim upto 50,000 for senior citizen parents.
Under section 24, you can claim a deduction on interest on home loan up to a maximum of Rs 2 lakh per annum
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