Every financial product is need-based, and hence the choice will depend on an individual’s need. Some of the sections under the Income Tax Act that offer tax rebates are as under. There is Best Tax Saving Plan.

1. THE BEST TAX-SAVING INVESTMENT OPTIONS
Every financial product is need-based, and hence the choice will depend on an
individual’s need. Some of the sections under the Income Tax Act that offer tax
rebates are as under. There is Best Tax Saving Plan.
Section 80C
This deduction is available for individual and HUFs (Hindu undivided families).
These investments allowed for exemption under section 80C:

2. 1. Life insurance premium on self, spouse and dependent children (premium
should not exceed 10% of sum assured). This applies to ULIPs as well as traditional
policies.
2. Pension fund or annuity
3. Employee Linked Saving Scheme
4. NSC, PPF, SCSS
5. 5-year tax saving bank Fixed Deposit or 5-year post office Term Deposit
6. PF, both mandatory and voluntary
and the following expenses can be claimed for deduction under section 80C
1. Principal on home loan
2. Registration and stamp duty on home purchase
3. Tuition fee on children's full-time education
Section 80D Tax Rebate
Section 80D gives tax exemption on your health insurance premium.
Section 10(10D) Tax Rebate
Section 10(10D) of Income Tax exempts any income received from an Insurance
Policy from Income Tax. This benefits policies such as Endowment Plans, Whole-
life Plans and Unit Linked Plans, all of whose returns and bonuses become tax-
free.
A comparison of some of the investment options is listed below in the tabular
form:

4. Source : https://www.kotakmoneywatch.com/index.php/article/559-the-best-tax-
saving-investment-options