You can save tax by investing here
ELSS: Equity Linked Savings Scheme (ELSS) is also known as Tax Saving Mutual Fund. You can invest in it through fund houses. On this one can save tax up to 1.50 lakh annually under section 80C of Income Tax Act. But, next time you should consider investing in Systematic Investment Plan (SIP). It gives better returns along with tax savings.
Health Insurance: You can claim tax exemption up to Rs 25,000 on health insurance premiums under 80D. One can get an additional discount of up to Rs 25,000 on health insurance if the parents are within 60 years of age. If the age of the parents is above 60 years, then you can claim additional exemption up to Rs. 50,000.
Life Insurance: One can save tax up to Rs 1.50 lakh on premium of life insurance under section 80C of Income Tax Act. It helps in meeting the financial needs of the family after you.
Bank FD of five years: This is also a good option to save tax. For this you can open FD account in any bank or post office.