Pre-Nursery Fees Deduction

You can get a tax break on fees for your child’s playgroup, pre-nursery, or nursery.This benefit is under Section 80C and covers up to two children.

Interest Paid to Parents

If your parents are in a lower tax bracket, you can borrow money from them and pay interest. To claim this benefit under Section 24B, get a certified proof of the interest payment.

Pay Rent to ParentsI

If you live with your parents and can't claim House Rent Allowance (HRA) otherwise, you can pay them rent and claim HRA. Under Section 10(13A), show your parents as your landlords for a tax deduction on HRA.

Health Insurance for Parents or Family

You can save on taxes by buying health insurance for your parents, spouse, or children. For parents under 65, claim up to Rs 25,000; for those over 65, claim up to Rs 50,000.

Medical Expenses for Parents

Claim a tax deduction on medical expenses for your parents if they are 60 or older. Under Section 80D, you can get a deduction of up to Rs 50,000.