18 Post-Budget Tips to Save Your Taxes

3. Section 80CCD

You will be eligible for the deductions under this section, only if your employer put 10 percent of your basic salary in to the National Pension Scheme (NPS). In other words, individual with an annual income of Rs.5 lakh will be getting an additional deduction of Rs 50,000.

Infact, the returns the individual gets from NPS is tax free, but while withdrawing it is still taxable.

4. Section 80 D

Section 80 D was introduced keeping in mind the medical expenses that the common man has to incur either for himself or for his family. According to this section, investment that is made towards health insurance will get tax deduction of up to Rs.15000.

Apart from this, an individual can claim for tax deductions if he/she has paid the monthly premiums for self, spouse, parents and children.

5. Section 80DD

Section 80DD was made available for the Medical Treatment of Handicapped Dependents. An individual can claim up to - Rs 50000, deduction if it is normal disability and Rs 1 lakh in case of severe disability.

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