10 Tax Saving Strategies to Adopt Right Now
3. Deduction on Annual Health Checkup
On Medical health checkup before 31st March 2013, deduction is accessible up to 
15, 000 for self insurance, insurance for spouse and dependent children and 20, 000 for senior citizens. If you parents come under the senior citizens group a deduction for insurance of father, mother or both is available to the amount of 20, 000.
4. Life Insurance Premium for Individuals
Tax deductions can also be availed on Life Insurance Premium for individuals for which the policy needs to be in the name of the assesse's or spouse's or any child's name. In case of Hindu United family (HUF) it can allowed on life of any one member of the family. The deduction is only valid on insurances purchased after 1st April, 2012 and only if the premium is less than 10 percent of sum assured.
