Restructure your salary so that you can make full use of all the deductions available to you like food coupons, LTA, telephone and newspaper allowances.

Open a tax saving FD, buy tax saver mutual funds, open PPF account, utilize home loan interest, tuition fees of children or buy term life insurance.

If you are living on rent then you can claim HRA and reduce the taxable portion of your salary. You can even pay rent to your parents to utilize their tax slabs.

Even if your employer provides you a health cover then also you should buy a personal health insurance policy for yourself and your family.

Start saving for your retirement by opening an NPS account and save tax too!

You can get an extra deduction of 50000 apart from section 80C on NPS.

Certain donations to various charitable organizations can be claimed as tax deduction under section 80G.