You can claim the deduction upto Rs 1,50,000 under this section by making investments in different instruments described in the section.

ELSS expands into equity linked saving scheme. ELSS is a mutual fund that invests in stocks. ELSS is an investment instrument that allows you to save tax under section 80C. ELSS has lowest lock-in period of 3 years among all the investment instruments available under section 80C.

ELSS invests in equities (stocks). So, returns in ELSS are based upon movement of stock market. Among financial products, stock market has the strong history to provide higher returns in longer term.

Section 80CCD provide deduction upto Rs 50,000 in addition to 80C against the contributions made to the National Pension Scheme (NPS). Contributions made by employer towards the NPS, also comes under this section.

Medical insurance comes under section 80D. Individual can avail deduction upto Rs 25,000 for the medical insurance of self, spouse & children. Medical insurance of parents provides additional deduction of Rs 25,000 if the parents are less than 60 years old & Rs 50,000 if the parents are above 60 years old.

Principal amount of home loan comes under section 80C where individual can avail deduction upto Rs 1,50,000/- & interest amount paid under home loan comes under section 24B where individual can avail deduction upto Rs 2,00,000/-.