What are some good tax saving Instruments?

You can get a medical insurance for yourself or your parents.your  Also, an NPS can be a good way for you save taxes under section - 80ccd  and your savings will depend upon your contribution. 80G also allows some deductions for contributions to certain selected organisations. and then there's of course, an 80C deduction of 1,50,000. Interest on savings bank account is also allowed under sec-80 tta to an extent of Rs. 10,000. 

You can claim deduction of 1,50,000/- under sec 80C.
80C can be claimed in following cases -
Repayment of housing loan, if you have any
Tuition fees of children
Investment in Mutual funds
Contribution to Provident Fund

NPS is a good way for tax savings where you can get additional benefit of 50,000/- under section 80CCD(1B) and also 10% of basic salary can be claimed under section 80CCD(1)

You can claim a deduction of 25,000/- (Self + Spouse + Dependent Children) and additional 25,000/- (Parents, whether dependent or not) for Medical insurance under section 80D. The deduction can be up to 50,000/- in case of Senior citizens.

Deduction upto maximum 10,000/- can be claimed on Savings bank interest under section 80TTA