LESSOR KNOWN DEDUCTIONS AND REBATES IN INCOME TAX
Here are the few deductions which are lessor known to common persons:
1) SECTION 80GG
This is the deduction related to Rent paid. If your employer is not giving your HRA (House Rent Allowance) then also you can claim deduction for rent paid. You can claim deduction maximum of Rs. 2,000 per month.
2) SECTION 80E
This section belongs to interest on loan taken for higher education and vocational courses. You can also claim any interest paid on loan taken for higher education of spouse, children or student for whom you are guardian.
3) SECTION 24B
Interest paid on second home loan is also fully deductible. […] Read more