Investment options under section 80C offer excellent scope for efficient tax planning and lowering your total taxes. You can avail deduction upto Rs.100000 under section 80C. So, one must plan investments in these options in such a way to avail maximum tax benefit. Here is the list of investment options available under Section 80C:

• Payment of Life Insurance Premium of self, spouse and children upto 20% of actual sum assured.
• Payment by a person in respect of non-commutable deferred annuity for self, spouse and children.
• Contribution towards Statutory Provident Fund.
• Contribution towards Public Provident Fund in the name of self, spouse and children upto maximum of Rs.70,000.
• Contribution by employee towards Recognised Provident Fund.
• Repayment of principal amount of Housing Loan.
• Contribution by employee towards Approved Superannuation Fund
• Deposit in 10 years or 15 years account under the post office savings scheme.
• Subscription to National Savings Scheme.
• Contribution to ULIP of UTI & LIC Mutual Fund in the name of self, spouse and children.
• Contribution to annuity plan of LIC.
• Contribution by an individual to any notified Pension Fund.
• Contribution to any notified pension fund set up by National Housing Bank.
• Payment of tution fee for full time education in India of two children.
• Subscription to equity shares or specified infrastructural bond or debentures of a public company or public financial institution approved by the Board.
• Subscription to any units of any Mutual Fund.
• Investment in term deposit for a fixed period of not less than five years with a scheduled bank.
• Subscription to notified bond issued by National Bank for Agriculture and Rural Development (NABARD).
• Amount deposited under the Senior Citizen Savings Scheme.
• Amount deposited in five years term deposit under the Post Office time Deposit.

Timely and efficient tax planning go long way in lowering your total taxes by employing and taking advantages of in-built provisions of tax exemptions, deductions, concessions, rebates, relief’s, allowances and other benefits granted by the tax laws so that the incidence of tax is reduced. We at Taxmantra.com have the expertise to guide you in lowering your tax outgo and thus enhancing your total take away.  We at Taxmantra.com provide full year support solving all your tax issues, in addition to filing of your return of income with excellent tax planning. Please join us now in pursuit of simplifying individual taxation! Alok Patnia Founder and Director at www.taxmantra.com