ELSS stands for Equity Linked Saving Scheme. It is a tax saving tool where you can get tax benefits under section 80C.

The scheme invests in equity and equity-related securities. The only difference between an ELSS and a diversified Equity scheme is that ELSS have a mandatory lock in period of three years.

It gives you a dual advantage of Tax Savings as well as Capital Appreciation since the gains are tax free at redemption.

ULIP as the name suggests is a unit link insurance plan. It is a flexible instrument which allows a consumer to combine the desired objectives of life insurance perhaps health rider and investment in one single convenient instrument.

Because of the nature of the instrument all the elements can be transparent and actually can be dealt with separately.

Infra Bonds are debt instruments wherein an investment upto Rs 20,000 is eligible for individual income tax benefits under section 80CCF. This is over and above the normal limit of Rs 1 lakh investments. Most of these bonds have a five-year buy back option with a 10-year tenure.

Considering the tax benefit these bonds offer individuals in a high tax slab a very high interest yield.

Health Insurance policy secures your family against financial emergencies during sudden illness, surgery and accidents.

Investments made towards payment of health insurance premiums, qualify for a tax deduction under section 80D. Expenditure incurred for the treatment of a handicapped dependent qualifies for a tax deduction under section 80DD. Costs incurred for treatment of specified illnesses qualifies for a tax deduction section 80DDB.

• Public Provident Fund
• National Savings Certificate (VIII issue)
• Senior Citizens Savings Scheme (SCSS)
• Post Office Time Deposit Account
• Check out all investments/payments that are eligible for deduction u/s 80C