When it comes to tax planning, people often know about deductions under sections 80C and 80D of the Income Tax Act. These allow deductions for specific investments and health insurance premiums. But, there are more avenues for tax optimization beyond these two sections. Let's explore some lesser-known options.

Under Section 24(b), taxpayers can claim deductions on the interest paid on home loans for a self-occupied property. Section 10 covers house rent allowance for salaried individuals living in rented accommodation, leave travel allowance (for domestic travel within India), and special allowances such as those for children's education, hostel expenses, and uniform allowances. Section 80E focuses on interest on higher education loans. Section 80G covers deductions against charitable donations to eligible institutions. Section 80TTB is exclusively for senior citizens on interest earned from deposits, helping them maximize their savings. Under Section 80CCD(1B) individuals get additional deduction of Rs. 50,000 for NPS investment. Employer contributions up to 10% of basic salary (14% for central government employees) upto Rs. 7.5 lakh is allowed as deduction under section 80CCD(2).

Exploring these lesser-known avenues for tax planning beyond 80C and 80D can provide individuals with valuable opportunities to optimize their tax liabilities. Consulting a tax advisor or financial expert can provide personalized guidance based on individual circumstances.