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What all are the Tax Saving Instruments?

April 26, 2017instruments Saving tax

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What all are the Tax Saving Instruments?

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• Life insurance premium paid by an individual to effect or to keep in force an insurance on his own life, life of the spouse or any child • Employee Contribution (not being repayment of loan) made by an individual towards Statutory Provident Fund & Recognised Provident Fund – This is a recovery from Salary. • Contribution (not being repayment of loan) made by a person towards the 15-year Public Provident Fund set up by the Government under the Public Provident Fund Scheme, 1968. • Employee Contribution by an individual towards an approved Superannuation fund • Any sum deposited in a 10 year or 15 year account under the Post Office Savings • Subscription to any notified Government security or any notified deposit scheme (ie National Savings Scheme) • Any sum paid as subscription to National Savings Certificates, VI & VII Issues & also National Savings Certificates VIII Issue. • Contribution made by an individual for participating in the unit-linked insurance plan of Unit Trust of India