Leveraging legal avenues, individuals can reduce taxable income by involving their parents strategically. Gifting up to Rs. 3 lakh (Rs. 5 lakh for super senior citizens) to senior citizen parents is tax-exempt. Investing in their name, especially in banks or post offices, amplifies tax-saving benefits. Medical insurance investments offer additional exemptions. House rent allowance (HRA) can be claimed by genuinely paying rent to parents, while SIP investments in their name minimize tax outgo. However, risks like income clubbing and estate planning should be carefully considered. Inheritance laws may affect investments made in parents’ names if they pass away intestate.