Tax planning is a crucial part of financial management. Section 80C is the most well-known tax-saving avenue, offering up to ₹1.5 Lakhs in deductions via investments in PPF, ELSS, EPF, and more.
Beyond 80C, Section 80D allows deductions for medical insurance premiums paid for yourself, your family, and your parents.
National Pension System (NPS) under Section 80CCD(1B) offers an additional ₹50,000 deduction over and above the 80C limit, making it a great retirement planning tool.
Home loan interest payments are also tax-deductible up to ₹2 Lakhs under Section 24(b). If you are a first-time homebuyer, you might qualify for additional deductions.