Published Paper Details:

The most crucial financial plan that any citizen should create is a tax strategy. It lessens the cost of taxes. Tax planning is an effective and efficient method of utilising the provisions of tax legislation to lessen an assesses tax burden. As the rate of tax compliance shows a declining tendency, the State and Central Governments of the nation are currently having trouble raising tax revenue. As a result, tax preparation has become urgently necessary. The research study seeks to analyse academicians' investment habits and their level of knowledge regarding the various tax planning strategies accessible to them. The main goals are to help academicians plan their taxes and improve the rate of tax compliance. This would contribute to the greatest potential reduction in the incidence of tax. Academicians from private educational educational institutions make up the study's sample, which is drawn from the city of Bengaluru. The method of stratified sampling was modified to gather information from 100 individuals. Data collection involved the use of a structured questionnaire. The results are analysed using statistical tools like Bar graph, Pie Chart and percentage analysis, etc. The study's results show that academicians are not very familiar with different tax-saving strategies; instead, they favour investing in safe and low-risk options. Personal considerations, like the stability and safety of their families, retirement benefits, and tax avoidance and evasion are the main factors that affect their investment choices. Most respondents prefer these strategies to tax planning in order to lower their tax burden.