India, March 24 -- With the financial year 2024-25 ending on March 31, 2025, it is important for taxpayers to know that Section 80C of the Income Tax Act can bring down one's gross salary by a maximum of Rs.1.5 lakh.

This can be done through investments in tax-saving instruments such as National Savings Certificates (NSC), Public Provident Fund (PPF), life insurance premiums, tax-saving Fixed Deposits (FDs), principal repayment of home loans, equity-linked savings schemes (ELSS), and so on.

This is available for a Hindu Undivided Family (HUF) as well as individuals, both resident and non-resident, with a combined limit of Rs.1,50,000.

1) Provident Fund and Superannuation Fund: These provide multiple benefits such as partial withdrawal ...