A Study on Awareness of Investment in Tax Saving Products

Authors: Varsha Singhania

DOI: https://doi.org/10.37082/IJIRMPS.2021.v09si05.018

Short DOI: https://doi.org/10/gndds7

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Abstract: Tax saving is an important concept as it helps in gaining deductions available from 80 C and other deductions. This research study helps in identifying how one can gain benefits of Indian tax systems by utilizing various investment options mentioned under 80-C of IT Act, 1961. This section provides upto Rs. 1,50,000 deductions. These investments include PPF, NSS, NPS and ELSS etc. The major objective of the study was to know the respondents awareness on the Tax planning and Tax deductions, the source of awareness and the reason for preference of Investment. Tax planning helps in the reduction of tax amount and helps in utilizing the various reliefs, deductions, exemptions and rebates as per the IT Act, 1961. This research aims at knowing the most preferred tax saving instrument and the reason for its selection based on the mentioned criteria. Overall findings of the study reveal that 80-C deductions is the most preferred one.

Keywords: Investment, Tax Saving Products, Income Tax, Tax Deductions

Paper Id: 2.37

Published On: 2021-09-10

Published In: Special Issue - Rishi's Online National Conference on "Management Perspectives for Quality Outlook in the Post COVID Era" (September 2021)

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