Full Text (PDF)
Journal of Social Welfare and Management 14(3 (Part-I)):p 143-148, September-December 2022. | DOI: https://doi.org/10.21088/jswm.0975.0231.14322.15
Review Article
A Study on Financial Planning and Tax Savings Strategies for Salaried Employees
Author Information
Licence:
Attribution-Non-commercial 4.0 International (CC BY-NC 4.0)This license enables reusers to distribute, remix, adapt, and build upon the material in any medium or format for noncommercial purposes only, and only so long as attribution is given to the creator.
Journal of Social Welfare and Management 14(3 (Part-I)):p 143-148, September-December 2022. | DOI: https://doi.org/10.21088/jswm.0975.0231.14322.15
How Cite This Article:
Vinoth S, Ahmed Haseena A/A Study on Financial Planning and Tax Savings Strategies for Salaried Employees/J Soc Welfare Manag. 2022;14,3(Part-I):143–148.Timeline
Received : July 13, 2022
Accepted : August 01, 2022
Published : December 25, 2022
Abstract
Despite significant attempts to broaden the tax base, our nation has only roughly 82.7 million taxpayers, or 6.25 percent of its more than 132 crore population, which is a trivial number for our nation. Budgeting, performance goal setting, and system building are all parts of the financial planning process. The annual income is depleted by taxes. Tax planning is a useful strategy for controlling this by lowering tax liabilities. It helps in maximizing the use of available tax exemptions, deductions, and benefits while lowering obligations. For the salaried class, income tax deductions provide a variety of opportunities to reduce their taxable income, including life insurance premiums, contributions to pension plans, employee provident funds, and principal payments on home loans, and tuition for dependent children. These exclusions and deductions would enable tax to be significantly decreased. To determine the extent of employee awareness of tax planning strategies and their saving and investing habits, a research of 107 salaried employees was conducted.
References
- 1. Dey Sanjeeb Kumar. (2015). “Awareness and Practices of Tax Planning by Salaried. Employees: A case study of Lectures in Odisha.” Siddhant-A Journal of Decision Making, 15(2),150- 159.
- 2. Dowlath Ahammad and Lakshmana. (2017). A Study on Investment Preferences among Employees with Reference To Kurnool City. Journal for Studies in Management and Planning, 3(1), 174-179.
- 3. Geethu Gopi, D. P. (2018). An Insight Into the Savings and Investment Pattern of Salaried employees working in Private Sector of Shipping Industries at Ernakulam. International Journal of Pure and Applied Mathematics, 118(18), 1347-1363.
- 4. Joseph, A. L., & Prakash, M. (2014). A study on preferred investment avenues among the people and factors considered for investment. International Journal of Management and Commerce Innovations, 2(1), 120-129.
- 5. Prabhu-Verlekar, P. (2021). A Study on Tax Planning Measures Adopted by the Salaried Class in Goa, published by Goa Business School
- 6. Abhishek Janvier Frederick, Sebastian T. Joseph and Jonathan Joe Pereria (2017) “A Comprehensive Study Among The Working Women Towards The Awareness Of Tax Saving Schemes In Allahabad,” International Journal of Advanced Research 5(5):1919-1927
- 7. Benny, B. (2018). A Study on Tax Awareness and Planning Measures Adopted by the Salaried Class in Bangalore City. Asian Journal of Management, 9(1), 543-547.
- 8. Pujari, R. V., & Mallika, B. K. (2018). A Study on Tax Planning Measures Adopted in Salary Class of Edelweiss Broking Ltd. Broking Ltd.” Volume3
Data Sharing Statement
There are no additional data available. All raw data and code are available upon request.
Funding
This research received no funding.
Author Contributions
All authors contributed significantly to the work and approve its publication.
Ethics Declaration
This article does not involve any human or animal subjects, and therefore does not require ethics approval.
Acknowledgements
We would like to express our gratitude to the patients, their families, and all those who have contributed to this study.
Conflicts of Interest
No conflicts of interest in this work.
About this article
Cite this article
Vinoth S, Ahmed Haseena A/A Study on Financial Planning and Tax Savings Strategies for Salaried Employees/J Soc Welfare Manag. 2022;14,3(Part-I):143–148.
Licence:
Attribution-Non-commercial 4.0 International (CC BY-NC 4.0)This license enables reusers to distribute, remix, adapt, and build upon the material in any medium or format for noncommercial purposes only, and only so long as attribution is given to the creator.
| Received | Accepted | Published |
|---|---|---|
| July 13, 2022 | August 01, 2022 | December 25, 2022 |
DOI: https://doi.org/10.21088/jswm.0975.0231.14322.15
Keywords
Financial planningInvestment patternTax planningTax exemptionsSearch for Similar Articles
Similar Articles
- Online Marketing and Lead Generation
- A Study on Occupiers Satisfaction with Commercial Property Management Services
- A Study on service Quality Attributes and Student Learning
- A Study on the Implentation of Finance ERP Tool with the Ramco Cements Ltd
- Impulsive Buying Behavior and Conduct of End Users Towards Luxury Brands
Article Level Metrics
Last UpdatedSaturday 29 August 2026, 10:49:42 (IST)
2134
Accesses
5
173
00
Citations
NA
NA
NA
Download citation
Article Keywords
Keyword Highlighting
Highlight selected keywords in the article text.
Timeline
| Received | July 13, 2022 |
| Accepted | August 01, 2022 |
| Published | December 25, 2022 |
licence
Attribution-Non-commercial 4.0 International (CC BY-NC 4.0)
This license enables reusers to distribute, remix, adapt, and build upon the material in any medium or format for noncommercial purposes only, and only so long as attribution is given to the creator.
