Worried about paying huge taxes every year? Know these deductions that can reduce your tax payable. Section 80C – Investment deductions from taxable income Some of your investments offer more than just expected returns. You can also save on taxes. Section 80C investments are important examples of such investments. This deduction is eligible for the individual and Hindu undivided family (HUF). Deductions are available for some large investments such as: Therefore, Investments in the state pension fund (NPF) Unit Linked Investment Plans (ULIP) Equity Savings Schemes (ELSS) Participation of employees in contributions to…