Most people end up paying more tax than they actually should — not because they earn too much, but because they don’t know which deductions they are eligible for.
Here are the most valuable deductions every taxpayer should be aware of:
🔹 Section 80C (up to ₹1,50,000)
Investments like LIC, PPF, EPF, ELSS, NSC, 5-year FD, Sukanya Samriddhi etc.
🔹 Section 80D (Health Insurance)
₹25,000 deduction for individuals and ₹50,000 for senior citizen parents.
🔹 Home Loan Interest (Section 24b)
Up to ₹2,00,000 deduction for interest paid on home loan.
🔹 Education Loan (Section 80E)
Deduction on loan interest for higher studies — no maximum cap.
🔹 NPS (Section 80CCD (1B))
Additional ₹50,000 deduction on top of 80C.
Even small steps like buying health insurance, investing in NPS or planning home loan EMIs correctly can reduce taxable income drastically.
Tax saving is not about last-minute rush in March.
It is about smart planning throughout the year.