Tax planning awareness and techniques adopted by salaried assessee (Having house property income)

Taxes, after all are the due we pay for the privileges of membership in an organised society. It is the duty of each government in every civilized country to look after the welfare of its citizens. Tax is an important and significant source of government's income or revenue for this purpose. Tax awareness is essential part of the tax planning for the individual assessee. Income tax takes away major chunks of hard earning money of an assessee. As every individual assessee who has income more than stipulated limit described by income tax law is liable to pay tax. Therefore, it is important to do tax planning. The objective of tax planning is to reduce the tax liability to the minimum. The benefits of tax planning are substantial in the long run. However many times the assessee do not seek professional advice, when they are salaried employees. Professional advice is sought by business entities and business men especially when they are subjected to tax audit. However individual assessee does not seek such help. That is why in tax planning done in a haphazard manner. E-filing of returns is a relatively new mode of filing returns and it has been a welcome change and this study attempts to gauge the efficiency and effectiveness of the electronic mode of filing returns. Furthermore, the study helps find if the assessee are aware of the various tax provisions that are available to them and whether they have made use of them efficiently in order to plan their taxes efficiently.