Beyond LIC: Multiple Ways to Save Income Tax Legally..

Section 80C of the Income Tax Act offers taxpayers a major opportunity to save tax through various investments and eligible expenses. Under the old tax regime, individuals can claim deductions up to ₹1.5 lakh annually. While many people are aware of LIC premiums as a tax-saving option, there are several other lesser-known investment avenues that also qualify for deductions.

Popular options include Public Provident Fund (PPF), Employees’ Provident Fund (EPF), National Pension System (NPS), ELSS mutual funds, insurance premiums, tuition fees, and home loan principal repayment. These instruments not only help reduce taxable income but also encourage long-term savings and financial planning.