Tax Saving in India.

Question

Due to huge tax last year I am planning to do some tax saving early this year and so was looking for some options available to me and I cam across one very interesting post

http://shabbir.in/full-tax-saving-without-investing-one-lac/

Which says that you don't need to invest 1 lac even to get the tax benefit of 1 lac and I would like you to look at them and let me know your opinion.

Answer 1

ELSS is without doubt good but you must be aware that the fund could also go down on its NAV as has happened with most funds taken prior to or in January, 2008

Answer 2

Read about Investments based Deductions from the Income: Section 80C, 80CCC, 80CCD, 80CCE http://mytaxes.in/index.php?topic=24.0