Abstract
“This is too difficult for a mathematician. It takes a philosopher. The hardest thing in the world to understand is the income tax.” –Albert Einstein Tax Management. Tax Management is an activity conducted by the tax payer to reduce the tax liability and maximize the use of all available deductions, allowances, exclusions, as per income tax act 1961. It is a techniques to prepare strategy of financial planning for longer term goal. In this paper analyzing investment products for tax saving purpose. The objective behind this research paper is to understand tax saving investment Management strategies among salaried induvial. On the same point view this research is an attempt to understand investment preference pattern and tax saving investment patterns among salaried individuals. Study outcomes reveals that the foremost adopted combination of tax saving instrument are PPF (Public Provident Fund), which got the primary rank during this study and therefore the other are Children education , LIC , Home Loan, NPS and other priority gives to Medical Insurance, National saving certificates ,Fixed Deposits and ELSS.
Highlights
LimitationThe study shall be conducted limited to salaried individual. The study is limited to Aurangabad (Gautam, 2013) Tax planning is an essential part of our financial planning
Abstract: “This is too difficult for a mathematician
The planning is that the arrangement of one’s financial affairs in such manner that without violating in any way the legal provisions, full advantage is taken to tax exemptions, deductions, concessions, rebates, allowances and other reliefs or benefits permitted under the tax Act.“ Effective tax planning requires one to loan one’s income and affairs even before earnings the income
Summary
The study shall be conducted limited to salaried individual. The study is limited to Aurangabad (Gautam, 2013) Tax planning is an essential part of our financial planning. Purpose of study was to find out the most suitable and popular tax saving instrument used to save tax and researcher examine that the amount saved by using that instrument. His findings revels that the most adopted tax saving instrument is Life Insurance policy, and the second most adopted tax saving instrument is Provident Fund. The teachers are well aware of the various deductions, reliefs, and rebates available as per the Indian income tax act. They prefer those options of investment which are having low risk, high returns, and full tax benefits. Hypotheses 3 Ho: There is no significant differences exists in tax saving investment products combinations in salaries induvial H1: There is a significant differences exists in tax saving investment products combinations salaries induvial
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