Here are 9 lesser-known deductions that can save your income tax

Deduction against preventive health checkup expenses: Section 80D gives you an income-tax deduction for buying health insurance policies. But you can also get tax benefits on preventive health check-ups.

Payment of Tuition Fees: It is eligible as a deduction to you and will help you save tax. The fees should be paid to a school, college, or university in India only.

Additional investment in the New Pension System (NPS): There is a standalone section 80CCD (1B) in the income-Tax act that allows a deduction only in the NPS. It includes an additional deduction of Rs 50,000. This is above Rs 1.5 lakh limit available under section 80C of the IT act.

GST paid on health and motor insurance policies

Secured Loan: Both Public and Private sector banks offer education loans against collateral of a certain value such as a house or land. The loan repayment starts six months after the degree is completed, irrespective of whether you have a job or not, and must be repaid within seven years of finishing the degree. So this is an important factor to be considered before signing up for one. The difference between banks and NBFCs is that banks usually cover 85-90% of expenses such as tuition fees, lodging, travel and lab fees, whereas NBFCs provide 100% cost of Attendance coverage.

Stamp Duty and Registration charges for home buyers: Stamp Duty and Registration charges need to be paid while buying property. If you have bought a house within one year, the amount paid towards registration and stamp duty is deductible under Section 80C up to a maximum of Rs1.5 lakh.

Deductions made towards donations: Section 80G of the Income Tax Act allows donations to relief funds and charitable organizations tax-deductible.

Deduction on interest earned by senior citizens on deposits: Senior citizens can claim an exclusive tax deduction of up to Rs 50,000 under Section 80TTB on the interest income earned from deposits held with banks, post offices, and co-operative banks.

NABARD Rural Bonds: The bonds issued by NABARD (National Bank for Agriculture and Rural Development) also qualify for deduction under section 80C. However, the availability of these bonds for investment depends on the government notifying the same.