Investment schemes for deduction of income tax
* Life Insurance Premiums
* Contributions to Employees Provident Fund/GPF
* Public Provident Fund (maximum Rs 70,000 in a year)
* NSC
* Unit Linked Insurance Plan (ULIP)
* Repayment of Housing Loan (Principal)
* Equity Linked Savings Scheme (ELSS)
* 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 similar nature shall not be eligible for deduction).
* Infrastructure Bonds issued by Institutions/ Banks such as IDBI, ICICI, REC, and NHAI.
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