#7 - SAVE INCOME TAX By Investing in THIS | INVESTMENT OPTIONS | FinCalC [VIDEO]

The Government of India has provided us with different Sections that define the type of Incomes to be exempted from Income Tax. 
If we Invest in such sections, we can claim deductions for such Investments thus reducing your Income Tax. 

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Following are some of the Sections under which we can invest and save Income Tax. 

Section 80C
This is one of the popular sections where you can invest maximum of Rs. 1,50,000, in a financial year to reduce your Taxable Income. This section Includes Investments in Provident Fund, Public Provident Fund, Life Insurance Premiums, 5 Year Fixed Deposits, National Savings Certificates, and many other. We will see these different schemes that fall under Section 80C in detail in upcoming videos. 

Section 80D
This includes the investments made towards Medical Insurance of self and Family members. Maximum limit of such medical Insurance are defined based on the age of family members, which we will see in detail in upcoming videos. 

Section 80CCD
This includes reduction of Taxable Income via Investments made in National Pension Scheme in a Financial Year. A maximum amount of Rs. 50,000 can be claimed in a Financial Year to reduce your Income Tax. 

Section 80TTA
This allows you to claim the Savings Account Interest earned in a Financial Year. 

Section 80EE
This includes deduction based on Home Loan Interest. If you have a Home Loan, the interest that you pay on Home Loan is eligible to be claimed under Section 80EE, thus reducing your Income Tax. 

Similarly, we have other sections such as Section 80GG, Section 80E, Section 80G, that belongs to House Rent, Education Loan Interest, and Charity respectively. 

We will see all these sections in detail in upcoming videos. 

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