1. Tuition fees of children
Do you know payments made by you as tuition fees for your children can be claimed as a deduction from your gross taxable income thereby reducing your tax payable? According to the Act, any tuition fees paid whether at the time of admission or thereafter to any university, college, school or other educational institution is eligible for this deduction.

2. Home Loan Principal Repayment
As a home loan buyer, section 80C can bring you relief as you are required to pay hefty equated monthly instalments (EMI). The EMI paid by you every month has two components: Principal and interest. The total amount of principal paid by you in a financial year (1 April to 31 March) can be claimed as a deduction from gross total income under section 80C before calculating net taxable income.

3. Certain payments for the purchase/construction of residential house property
If you have bought a house, then there are certain charges that are required to be paid apart from the cost of house. According to the Income Tax Act, any stamp duty, registration fee and other expenses incurred for the purpose of buying a house is eligible for deduction from gross total income in the financial year in which these expenses are incurred. Here, ‘other expenses’ include any other statutory expenses similar to stamp duty or registration charges. (If any applicable on transfer of property)

4. Payment to development authority, housing board or other authority for the purchase of house
If you have bought a house under the installment finance scheme from a development authority such as the Delhi Development Authority (DDA) and are paying the installment to DDA then any amount paid towards principal repayment can also be claimed as deduction u/s 80C.

Source: Economic Times