A deduction from gross total income is available under Section 80U of the IT Act for expenditure towards medical treatment, or even rehabilitation treatment or training of dependant spouse, child, parent, or even sibling who is disabled. There is a ceiling of Rs. 75,000 (Rs 1,25,000 in case of severe disability). A disabled taxpayer can claim such deduction for self also. Deduction is also allowed for expenditure towards treatment of specified diseases such as AIDS and malignant tumours for self and dependents.This deduction is limited to a maximum of Rs 40,000; Rs 60,000 in case patient is above 60 years and Rs 80,000 in case patient is aged 80 years or more (ie very senior citizen). 
 

1.ICICI Prudential Tax Plan

2.Reliance Tax Saver (ELSS) Fund

3.HDFC TaxSaver

4.DSP BlackRock Tax Saver Fund

5.Religare Tax Plan

6.Franklin India TaxShield

7.Canara Robeco Equity Tax Saver

8.IDFC Tax Advantage (ELSS) Fund

9.Axis Tax Saver Fund

10.BNP Paribas Long Term Equity Fund

You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds

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