There are a number of tax saving instruments in India, investing money in which can help a tax payer save up on his/her taxes to be paid. These instruments include PPF (Public Provident Fund), home loan, National Saving Certificates (NSCs), bank fixed deposits, life insurance policies, health insurance policy for parents, National Pension Scheme, Rajiv Gandhi Equity Saving Scheme. Apart from these there are certain mutual funds, investing in which would help a person save up on his tax to be paid. Basically, one needs to have savings to be able to save from his taxes.
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What are the various tax saving instruments?
