Tax-saving solutions are essential for optimizing your financial planning and ensuring that you legally minimize your tax liability. Here are various tax-saving instruments and strategies available in India:

1. Section 80C Investments

• Public Provident Fund (PPF): Investments up to ₹1.5 lakh per annum are tax-deductible.
• Employees’ Provident Fund (EPF): Contributions by employees are tax-deductible up to ₹1.5 lakh.
• Equity-Linked Savings Scheme (ELSS): Mutual funds with a lock-in period of 3 years, providing tax deductions up to ₹1.5 lakh.
• National Savings Certificate (NSC): Fixed income investment scheme, with contributions deductible up to ₹1.5 lakh.
• Life Insurance Premiums: Premiums paid for life insurance policies qualify for deductions up to ₹1.5 lakh.
• Sukanya Samriddhi Yojana (SSY): Investments made for a girl child’s future education and marriage are deductible up to ₹1.5 lakh.
• Principal Repayment on Home Loan: The principal portion of home loan repayments is deductible up to ₹1.5 lakh.