Tax saving in India is not about loopholes — it is about choosing the right regime and using deductions you already qualify for. The biggest mistake is locking money into products only for tax when the new regime would have left you richer.
Step 1: Pick the right regime
Run old vs new with your actual HRA, 80C, 80D and home loan numbers. If deductions are thin, take the new regime and invest for growth — not for a deduction you no longer need.
Step 2: If you stay on old regime
- Max 80C with EPF + PPF/ELSS (₹1.5L).
- Add NPS for extra ₹50,000 under 80CCD(1B).
- Claim HRA with rent proofs.
- Claim 80D for health insurance premiums.
- Claim home loan interest under Section 24(b) up to ₹2L.
The takeaway
Never buy an insurance-cum-investment product only for tax. Pure term + separate investments almost always beats ULIPs and endowment plans.