There are many vehicles that can help you have upto Rs.45000 in taxes whilst also giving you good returns over the long term. This occurs through Section 80C under the Income Tax Act, where you can invest upto Rs.1,50,000 of your earnings into certain investments which will then be deducted from your taxable income.
The various tax saving schemes where you can save your money and are allowed as a deduction under section 80C are:
1. Provident fund
2. Voluntary provident fund
3. Life insurance premium
4. Equity linked saving scheme
5. National savings certificate
6. Mutual fund/ SIP
7. Unit linked insurance plans (ULIP)
8. Fixed deposit/ Post office time deposit schemes
Should you purchase a package that includes tax advisory services, your final report will contain more detailed information on the above investment vehicles.