Finance How to save income tax? Here are a few options for the salaried class Updated : June 25, 2019 01:36 PM IST An individual can claim a deduction of the health insurance premium paid for self, family and dependent parents under section 80D. Donations to charitable institutions and interest paid on higher education loan are eligible for tax benefits under section 80G. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.