These investments will help you in saving taxes –Know

You can claim a maximum cumulative amount of Rs 1.5 lakh under Section 80C.

These investments will help you in saving taxes –Know

In order to encourage savings, there are some tax reliefs government offers to private and public sector employees.
 
To get a clearer idea of what documents you will require to show as proofs of investment, here’s a list (prepared by bankbazaar.com) of items that give you tax exemption from paying tax:

Section 80C: You can claim a maximum cumulative amount of Rs 1.5 lakh under Section 80C.

The following items are included under Section 80C

• Investment in Public Provident Fund (PPF)
• Contribution to Employees Provident Fund (EPF)
• Investment in National Savings Certificate (NSC)
• Premium payment for life Insurance policies
• School fees of children
• Repayment of Home loan principal
• Investment in Sukanya Samriddhi Scheme
• Investment in Unit-linked Insurance Plans (ULIPs)
• Investment in Equity Linked Savings Scheme (ELSS)
• Deferred annuity plan purchase
• Investment in 5-year Fixed Deposit scheme
• Senior Citizens savings scheme
• Contribution to notified securities/deposits scheme
• Subscription to notified pension funds set up by Mutual Fund or UTI.
• Investment in term deposit schemes of the National Housing Bank
• Contribution to term deposit schemes of a public sector or housing finance company
• Investment in notified LIC annuity plans
• Investment in equity shares/debentures of an approved eligible issue
• Subscription to notified bonds of NABARD

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