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U shouldn’t be under tax bracket already after 50k standard deduction and HRA. Anyway if ur not claiming HRA, u can use 80C. If you consider inflation, FD for 5 years(minimum requirement for tax saving) will give you negative returns. The best way of using 80C is elss for tax saving, locking time is minimum 3 years and return is good. Take any tax saving elss long term MF. Also considering ur pay, I assume ur age is low, buy a term insurance for you ASAP and u can claim under 80C
FD wont cut down your taxes. You just to invest 1.2L to be tax free.
80c -Ppf, LIC
80d - medical insurance, you will easily get a good insurance in10k.
Invest other 1.1k in ppf and lic
Forgot to mention the 50k standard deduction.