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ways I can save tax

Guest

Im writing this information on behalf of my father because like to know ways I can save his tax.

Facts and figure:

He is government employee.

Annul income: 10 Lakh

Retirement: 2017

Loan: 2 loans

Home: no

Land: yes

Investment: NO

LIC: yes

Medi-claim: NO

Tax deductions under 80C: claim life insurance and employer PF; consider PPF, NSC, NPS and mediclaim. Personal loan interest is not deductible where no home loan exists; employer provident fund contributions and life insurance premiums are eligible for deduction, including under 80C where applicable. Tax-saving instruments suggested include provident fund contributions, life insurance, public provident fund, national savings instruments, pension subscriptions and mediclaim premiums, subject to their statutory deduction conditions. (AI Summary)
Income Tax
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Ganeshan Kalyani on Mar 3, 2016
You have said 'Home - No' which implies that Loan as cited is a personal loan. Hence no deduction. You have not mentioned the Lic premium amount. This is eligible for deducted u/s 80C. Further PF is deducted by your father employer is also deductible, Further there are so many avenue to make investment to save tax. For eg LIC, PPF, NSC, NPS, Bonds, Mediclaims etc.
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