You can become a tax guru if you can tell difference between instruments giving market linked returns and fixed / assured returns and use them to your maximum advantage; you can also take the guidance of a financial advisor in this regard. Market linked instruments have higher risk but also aim to give you potential returns whereas fixed returns instruments will give you low returns as they carry low/no risk. We are listing down most of the tax saving instruments covered u/s 80c, subject to eligibility:
Tax planning with market linked instruments:
Unit Linked Insurance Plans, Equity Linked Saving Scheme, National Pension Scheme, Pension Funds
Tax planning with assured returns instruments:
Public Provident Fund, Sukanya Samriddhi Scheme, National Savings Certificate, 5 year Bank Fixed Deposits, Post Office Tax saving Deposits, Senior Citizens Savings Scheme, Non- ULIP Insurance plans.