Published Paper Details:

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. Tax-saving is an important part of financial planning. Tax planning is the process of analyzing a financial plan or a situation from a tax perspective. With the help of tax planning, one can ensure that all elements of a financial plan can function together with maximum tax-efficiency. Tax Saving Instrument involves selection of the right kind of instruments / schemes with an aim of maximizing returns. The decision regarding the type of instrument depends upon the risk taking capabilities of individuals. Although there are various tax-saving instrument plans available in the market. People often get confused about which plan best suits them. In order to make you choose the best instrument plan for you depending on your risk appetite and preferences. The purpose of the study was to know the awareness level and perception on the Tax saving instruments and to determine the tax-saving instrument options which are preferred to save tax reason for preference of Instrument. This study also aims to know the most suitable and popular tax saving instrument used by salaried Individuals. Descriptive statistics used to analyze the data collected randomly through the 110 respondents from Bengaluru City. Both Primary and Secondary Data Used in this study. Data Collected were analyzed by using frequency and percentages and findings are interpreted accordingly.