How to save my Income Tax? what are the documents needs to submit income tax declared.

My salary is around 1Cr to above and how to save tax?

1. Reduce Your Taxable Income by Up To Rs 1.5 Lakhs (Section 80C, 80CCC, 80CCD)

a) Financial Protection Investments

Term Insurance Plans
Life Insurance Plans
b) Invest for Long-Term Goals & Retirement

Unit Linked Insurance Plans (ULIPs)
Pension or Annuity Plans from Life Insurance Companies
Public Provident Fund (PPF) & Employee Provident Fund (EPF)
New Pension Scheme Tier-I Account
Senior Citizen Savings Scheme
Buy a house property – Registry and home loan principal repayments
c) Invest for Your Child’s Future

Sukanya Sammriddhi Yojana (SSY)
Child Plans from Life Insurers
d) Protect Your Wealth from Inflation & Market Trends

5-Year Tax-Saving Term Deposit
Endowment & Money Back Plans
National Savings Certificate (NSC)
2. Additional Reduction of Up To Rs 50,000 for NPS Investors (Section 80CCD

a) The maximum deduction available on self-contribution to NPS Tier-1 account is limited to:

10% of annual income for salaried investors
20% of annual income for self-employed investors
b) You can contribute an additional amount for a deduction of up to Rs 50,000 a year

3. Reduce Your Taxable Income by Up To Rs 75,000 (Section 80D)

a) Health Insurance for yourself and your family

Reduces your taxable income by up to Rs 25,000 if you are below 60
Includes preventive health check-up expenses of up to Rs 5000
Cover your children below 25 years of age under the same plan
b) Health Insurance for your parents

Reduce your taxable income by up to Rs 50,000 more if parents are 60 or above (Rs 25,000 for below 60)
You can claim medical expenses as well for senior citizen parents
Include preventive health check-up expenses of up to Rs 5000
4. Reduce Your Taxable Income by Up To Rs 2 lakhs (Section 24)

a) If you bought or constructed a home using a home loan the principle and interest payment on the loan allows for a tax deduction

b) Interest payments up to Rs 2 lakhs deductible under section 24B

c) Principal repayment can be claimed under section 80C

Regards,
Prabhanjan Sahu
M.com, MBA International Finance 

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