INVESTMENT IN TAX SAVING PRODUCT-AN

OVERVIEW

A project submitted to
University of Mumbai for partial completion of the degree of
Master in Commerce
Under the Faculty of Commerce

Submitted By

JHA ROHIT SANJAY SANGITA

Under the Guidance of

MR. SATISH PANDEY

PRAHLADRAI DALMIA LIONS COLLEGE

OF COMMERCE & ECONOMICS

SUNDAR NAGAR, S.V.ROAD, MALAD (WEST)

MUMBAI 400 064

February2023
 Prahladrai Dalmia Lions College of Commerce & Economics
Sunder Nagar, Malad (West), Mumbai, 400 064
ISO 9001:2015 Certified

CERTIFICATE

This is to certify that Mr. JHA ROHIT SANJAY SANGITA has worked and
dulycompleted his Project Work for the degree of Master in Commerce under
the Faculty of Commerce in the subject of Accountancy and his project is
entitled, “INVESTMENT IN TAX SAVING PRODUCTS-AN
OVERVIEW” under
my supervision. I further certify that the entire work has been done by the
learner under the guidance and that no part of it has been submitted previously
for any Degree of any University.

It is his own work and facts reported by his personal finding and investigations.

Signature

MR. SATISH PANDEY

Date of Submission: 24th February 2023

 DECLARATION

I the undersigned JHA ROHIT SANJAY SANGITA here by, declare that
the work embodied in this project work titled “INVESTMENT IN TAX
SAVING PRODUCTS-AN OVERVIEW”, forms my own contribution to
the research work carried out under the guidance of MR. SATISH
PANDEY is a result of my own research work and his not been previously
submitted to my other University for any other Degree to this or any other
University.

Wherever reference has been made to previous works of other, it has been
clearly indicated as such and included in the bibliography.

I, here by further declare that all information of this document has been
obtained and presented in accordance with academic rules and ethical
conduct.

Signature
(JHA ROHIT SANJAY SANGITA)

Certified by

MR. SATISH PANDEY

 ACKNOWLEDGEMENT

To list to who all helped me is difficult because they are so numerous and the depth
is so enormous.
I would like to acknowledge the following as being idealistic channel and fresh
dimension and completion of project.
I take this opportunity to thank the University of Mumbai for giving me chance to
do this project.
I would like to thank my I/C Principal, Dr. Kiran Mane and our Vice-Principal
Ms. Subhashini Naikar for providing the necessary facilities required for
completion of this project.
I take this opportunity to thank our Co-ordinator Mr. Pankaj Jain for his moral
support and guidance.
I would also like to express my sincere gratitude towards my project guide Mr.
Satish Pandey whose guidance and care made the project successful.
I would like to thank my college library for having provided various reference
books and magazines related to my project.
Lastly I would like to thank each and every person directly or indirectly helped me
in the completion of the project, especially my Parents and my peers who
supported me through out of my project.

JHA ROHIT SANJAY SANGITA

 INDEX
Chapter Title of the Chapter Page No.
No.
1 Introduction 1
1.1 Definition of Investment 1
1.2 What is Investment 1
1.3 Need for Investment 1
1.4 History of Income Tax in India 2
1.5 Meaning: Income Tax? 2
1.6 Income Tax Overview 3
1.7 Why we need to pay tax? 4
1.8 Unhappy Taxes Payer 4
1.9 Income Tax Slabs 5
DEDUCTIONS UNDER CHAPTER 18
VI-A (SEC 80 C TO 80 U) OF
INCOME TAX
ACT, 1961
Section VI A DEDUCTIONS 18
TAX SAVING SCHEMES 23
Public Provident Fund (PPF) 23
National Savings Certificats (NSC) 25
Bank Fixed Deposits (FDS) 25
Unit Linked Investment Plan (ULIP) 25
Mutual Fund:Equity Linked Saving Schemes 26
(ELSS)
Life Insurance 27
National Pension Scheme 28
Senior Citizens Savings Scheme (SCSS) 28
TAX PLANNING 29
Tax Evasion And Tax Avoidance 30
Tax Planning Excludes 31
Types Of Tax Planning 31
Scenario’s 32
2 RESEARCH AND METHODOLOGY 34
3 REVIEW OF LITERATURE 37
4 DATA ANALYSIS, INTERPRETATION 40
AND PRESENTATION
5 SUGGESTION & CONCLUSION 49
6 WEBLIOGRAPHY 51
 ANNEXURE QUESTIONNAIRE 52