1. Premiums paid towards life insurance policy for self and immediate family.

Also Read: 10 Commandments of Life Insurance

2. Any amount paid towards a deferred annuity scheme like those offered by mutual funds.

3. For government and semi-government employees, any amount which is deducted from your salary towards a deferred annuity scheme.

4. Your contribution towards a Provident Fund, provided that the fund is covered under the Provident Fund Act.

5. Provident Fund opened in the name of immediate family members.

6. Contribution to a recognized provident fund.

Also Read: How Safe is Your Company Provident Fund?

7. Contribution to an approved superannuation fund.

8. Contribution to a government savings certificate. This would include post office savings schemes.

9. Premium paid towards a ULIP.

Also Read: The Low Down on ULIPs

10. ULIP of UTI Mutual Fund and LIC Mutual Fund.

11. Any payments made to keep in effect an annuity plan of any insurance company.

12. Equity Linked Savings Scheme (ELSS).

Also Read: Optimize Tax with Mutual Funds

13. Contribution to a pension fund set up by a mutual fund subscription.

14. Subscription to any such deposit scheme of, or as a contribution to any such pension fund set up by, the National Housing Bank.

15. As subscription to any such deposit scheme of an authorized company which provides long term finance for construction or purchase of residential houses.

16. Home loan principal repayment.

17. Public offerings of equity shares or debentures.

18. Pension policy where benefits were available under section 80CCC. However, here, the sub-ceiling remains at Rs 10,000.