Is it possible to make our tax to be paid as zero?

A major policy to exempt our tax is investing upto 1 lakh under 80cc investments. Are there any other ways to exempt taxes on large amount?

There are many other benefit available under income tax act some of them are:

if you have your own house and housing loan is taken to build the house then interest paid on loan can be deducted from taxable income subject to maximum Rs 150000/-, if you don't have your own house and living in rented house then rent paid can be deducted from taxable income subject to maximum Rs 24000/-

if you are paying mediclaim premium deduction u/s 80D is available

if you donate for charitable purposes to an institute registered u/s 80G deduction of donation ranging from 50% to 100% is available.

Yes you can. But It depends on your income.

If your income is non-taxable after all tax exemptions like
savings
housing loan
PF, HRA, LTA
children education
conveyance
medical

then you need not pay tax

Other than the 80(c) section, u can have deductions for the housing loan.

depends on your income. ??