TAX SAVING INSTRUMENTS

List of qualifying tax saving instruments for section 80C is as follows (for AY 2009-10)

1. Life Insurance premiums paid subject to maximum of 20% of the sum assured. (In the case of an individual policy should be taken on his own life, life of the spouse or any child (child may be dependent / independent, male / female, minor / major or married / unmarried). In the case of a Hindu undivided family, policy may be taken on the life of any member of the family.)
2. Contributions to notified Unit Linked Insurance Plans of LIC Mutual fund & UTI Mutual fund.
3. Contributions towards Statutory provident fund or recognized provident fund
4. Contributions towards 15 years public provident fund (PPF)
5. Contribution towards an approved superannuation fund
6. Subscription to National Savings Certificate (NSC, VIII issue)
7. Contribution to notified pensions funds/retirement benefit funds of UTI Mutual funds and others mutual funds.
8. ELSS (Equity linked savings schemes) of various mutual funds.
9. Repayment of principal for the home loan taken from specified entity.
10. ank fixed deposit of 5 years & more (Only approved schemes framed in accordance with the notification of Central Government of India.
11. Payment made as Tuition fees for any two children of an individual.
12. Subscription to any notified bonds of NABARD.
13. Investment in Sr. citizen savings schemes 2004.
14. Investment in Post Office time deposit account.