Tax Saving Options For Salaried Individuals

Salaried individuals can contribute up to 12% of their basic salary to EPF to save tax. An additional contribution of up to 88% of the basic salary can be made to VPF

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Salaried individuals can invest up to Rs. 1.5 lakh in PPF in a financial year to save tax. The interest earned on the investment is tax-free

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Salaried individuals can invest up to 10% of their salary in NPS to save tax. An additional tax benefit of up to Rs. 50,000 is available under Section 80CCD (1B)

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Salaried individuals can invest up to Rs. 1.5 lakh in tax-saving FD to save tax. The investment has a lock-in period of 5 years

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Premium paid towards life insurance policies is eligible for tax deduction under Section 80C. The maximum tax deduction allowed is up to Rs. 1.5 lakh

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The principal amount paid towards a home loan is eligible for tax deduction under Section 80C. The maximum tax deduction allowed is up to Rs. 1.5 lakh

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