Investing in tax-saving instruments is an excellent way to save on taxes in India. Some of the best ways to invest and save taxes in India are:

1. Public Provident Fund (PPF): PPF is a popular long-term investment option that offers tax benefits under Section 80C of the Income Tax Act. The current interest rate for PPF is 7.1%, and the minimum investment amount is Rs. 500 per annum.

2. Equity-Linked Savings Scheme (ELSS): ELSS is a type of mutual fund that invests in equity markets and offers tax benefits under Section 80C of the Income Tax Act. The lock-in period for ELSS is three years, and the returns are market-linked.

3. National Pension System (NPS): NPS is a retirement savings scheme that offers tax benefits under Section 80C of the Income Tax Act. Subscribers can choose from various investment options, including equity, corporate bonds, and government securities, and can switch between these options as per their investment goals and risk appetite.

4. Unit Linked Insurance Plans (ULIPs): ULIPs are a type of insurance-cum-investment product that offers tax benefits under Section 80C of the Income Tax Act. They offer flexibility in terms of investment options and can be customized as per the subscriber’s investment goals.

5. Tax-saving Fixed Deposits (FDs): Tax-saving FDs are a popular investment option that offers tax benefits under Section 80C of the Income Tax Act. The lock-in period for tax-saving FDs is five years, and the returns are fixed.

In conclusion, investing in tax-saving instruments is an excellent way to save on taxes in India. Subscribers can choose from various investment options, including PPF, ELSS, NPS, ULIPs, and tax-saving FDs, depending on their investment goals and risk appetite. It is advisable to consult with a financial advisor before making any investment decisions.