You can make tax-free investments upto Rs. 1 lakh under following schemes
1. Life Insurance Premiums
2. Contributions to Employees Provident Fund/GPF
3. Public Provident Fund (maximum Rs 70,000 in a year)
4. NSC (National Savings Certificates)
5. Unit Linked Insurance Plan (ULIP)
6. Repayment of Housing Loan (Principal)
7. Equity Linked Savings Scheme (ELSS) of Mutual Funds
8. Tuition Fees including admission fees or college fees paid for full-time education of any two children of the assessee (Any development fees or donation or payment of a similar nature shall not be eligible for deduction).
9. Infrastructure Bonds issued by Institutions/ Banks such as IDBI, ICICI, REC, PFC etc.
10. Interest accrued in respect of NSC VIII issue.
11. Pension scheme of LIC of India or any other insurance company.
12. Fixed Deposit with Banks having a lock-in period of 5 Years
Apart from that, you can invest additional Rs. 20K in infrastructure bonds. So, total tax-free investments can be Rs 1,20,000.
1. Life Insurance Premiums
2. Contributions to Employees Provident Fund/GPF
3. Public Provident Fund (maximum Rs 70,000 in a year)
4. NSC (National Savings Certificates)
5. Unit Linked Insurance Plan (ULIP)
6. Repayment of Housing Loan (Principal)
7. Equity Linked Savings Scheme (ELSS) of Mutual Funds
8. Tuition Fees including admission fees or college fees paid for full-time education of any two children of the assessee (Any development fees or donation or payment of a similar nature shall not be eligible for deduction).
9. Infrastructure Bonds issued by Institutions/ Banks such as IDBI, ICICI, REC, PFC etc.
10. Interest accrued in respect of NSC VIII issue.
11. Pension scheme of LIC of India or any other insurance company.
12. Fixed Deposit with Banks having a lock-in period of 5 Years
Apart from that, you can invest additional Rs. 20K in infrastructure bonds. So, total tax-free investments can be Rs 1,20,000.
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