Tax Exemption Investments and Expenses List

There are certain investments and expenditures those have exemptions from paying tax. Here is the list of both investments and expenses that comes under this policy. Follow the list given to save on your tax and get relief from the investments and expenses that you make.

Tax Relief Investment and Expenses

Which Investments have got Tax Exemption?

  • Employees Provident Fund (EPF)
  • Public Provident Fund (PPF)
  • Bank Fixed Deposit
  • Life Insurance Premium
  • National Savings Certificate (NSC)
  • Pension Policies of Life Insurance and Mutual Fund Companies
  • Post Office’s Senior Citizen’s Savings Scheme
  • Post Office’s Time Deposit
  • ELSS Mutual Fund
  • Repayment of Housing Loan (Premium)
  • School Fees (Only for Two Children)

    All these above investments and expenses included, in a financial year, a maximum of tax relief can be availed only for Rs. 1,00,000.00

    Which Expenditures have got Tax Relief?

  • House Rent
  • Premium for Health Insurance (80 D)
  • Physically Challenged (80 U) – If the tax payer is physically challenged Rs. 50,000 is available (and if the tax payer is severely handicapped the relief is up to Rs. 1,00,000)
  • Medical Expenses (80 DT)
    Tax relief of Rs. 50,000 of the dependent on the tax payer (it is Rs. 1,00,000 if the the person is severely challenged)

  • Treatment of Severe Illness – (80 DTP) Cancer, neurological problem included other severe treatments will have a tax relief of up to Rs. 40,000. This is Rs. 60,000 for senior citizens.
  • Interest on House Loans (section 24) – In repaying the house loan, there is a tax relief in a financial year on the interest up to Rs. 1,50,000. If the house is left for rent the exemption is available for the whole interest amount.
  • Educational Loan (80 E) – The tax payer will get the relief on interest for the loan on his or her higher studies.

    The above lists of investments and expenses have got a tax relief as mentioned. If you are looking for ways to save tax on your investments or else looking for new investment options to save on your tax, you can well decide on it. It is the same on the expenses while calculating on your payable tax amount.