Summer Project Report

On

WEALTHPLAN: EMPOWERING EMPLOYEES

Submitted for the partial fulfillment of the Award.

Of

POST GRADUATE DIPLOMA IN MANAGEMENT (PGDM)

Noida Institute of Engineering & Technology (MCA Institute),
Greater Noida
(Session :20223- 2025)

SUBMITTED BY
VISHAL KUMAR

Roll No. 2327370309

UNDER THE GUIDANCE OF

MR. ASHISH DIWAKAR

Assistant Professor

NIET College, Greater Noida

Mr. Vishal Kumar

 DECLARATION BY STUDENT

I hereby declare that Research Project Report entitled “WEALTHPLAN: EMPOWERING

EMPLOYEES” submitted to PGDM department at Noida Institute of Engineering and

Technology, Greater Noida. It is the best of my knowledge that it has not been
published earlier anywhere or presented to any institution/university for an end of any
degree.

Signature:

Name of the student– VISHAL KUMAR (N.I.E.T)

Roll No. 2327370309

Mr. Vishal Kumar

 ACKNOWLEDGEMENTS

Any accomplishment requires the effort of many people, and this work is notdifferent.
I am thankful to my faculty supervisor MR. ASHISH DIWAKAR for supporting me
and guiding me throughout the project. This report would not have been possible
without her help. I would also like to express my gratitude towards (HOD), for her
cooperation and giving her valuable time and information for my thesis preparation.

VISHAL KUMAR (NIET)

(2327370309)
PGDM Department
NIET
Greater Noida, UP.

Mr. Vishal Kumar

 PREFACE

This Project Report has been prepared impartial fulfillment of the requirements for the
award of POST GRADUATE DIPLOMA IN MANAGEMENT TRIMESTER (IV). I
have reviewed different papers on the subject of Relationship among components of
Insurance companies and services Quality and have collected primary data to avail the
necessary information. The blend of learning and knowledge acquired during our practical
studies in the field of research is presented in this Project Report.
The main focus of study was on the topic of Relationship among components of Insurance
companies and services Quality, in which the focus was on satisfaction level on Services
Quality. The research tried to study that what is the behavior of investment of life
insurance. And what are the different factors that affect the behavior of Services Quality
through life insurance. I have put up my best efforts and enumerated every possible
information after conducting the research, to make this report a satisfactory report.
It was a great opportunity and memorable experience to learn new facets & practical
knowledge about research through carrying out a research, collecting information about
the above-mentioned subject & interacting with people for data collection.

Mr. Vishal Kumar

5
 TABLE OF CONTENT

S.No PARTICULARS PAGE

. No.
1. Introduction 1-5

2. Company Profile: TLS 6-28

3. Literature Review 36-40

4. Research Methodology 41-45

41
• Research Design
43
• Objectives
45
• Hypothesis
5. Limitations 36-37

• Problem of the study 38

6. Data Analysis & Interpretation. 46-56

7. Findings 57

8. Conclusion & Suggestions 58-59

9. Reference 59-60

Annexure 61-63

6
 ABSTRACT

A financial plan is something that you create after considering your current income, savings,
expenses, future earnings, insurance if any, financial goals and a vision for your future life. You
then try to choose savings and investment options accordingly so that you can meet your long-
term and short-term financial goals at various stages in your lives. Financial planning is important
when it comes to saving taxes. It is imperative for an individual as it helps in maintaining steady
savings percentage even when the financial markets are constantly being played between inflation
and fluctuation. Tax planning is an essential part of financial planning.Efficient tax planning
enables us to reduce our tax liability to the minimum. This is done by legitimately taking
advantage of all tax exemptions, deductions rebates and allowances while ensuring that your
investments are in line with their long-term goals.

7
 CHAPTER 1
INTRODUCTION

1.1 INTRODUCTION

Financial Planning is the process of meeting life goals through the proper management of finances.
Financial planning is a process that a person goes through to find out where they are now
(financially), determine where they want to be in the future, and what they are going to doto get
there. Financial Planning provides direction and meaning to persons financial decisions. It allows
understanding of how each financial decision a person makes affects other areas of their finances.
For example, buying a particular investment product might help to pay off mortgage faster or it
might delay the retirement significantly. By viewing each financial decision as part of the whole,
one can consider its short and long- term effects on their life goals. Person can also adapt more
easily to life changes and feel more secure that their goals are on track. Today, in financial planning
is a personal commitment by an

individual to meet a goal in life. It is necessary for the salaried class to know which components
of investments are available and taxes that are to be targeted in order to attain personal economic
growth in the financial planning process. Currently, in Ghana, people mainlysee financial planning
as only a means to invest money in tax-saving instruments. The tax law requires that basic pay and
bonuses are fully taxable whilst children’s education allowance and transport allowance are partly
taxable. Fortunately, there are myriads of tax exemptions and incentives available under various
sections and

subsections of the Income Tax Act, 2015 (Act1896).India financial planning means only investing
money in the tax saving instruments. Thanks to the plethora of tax exemptions and incentives
available under various sections and subsections of the Income Tax Act. This has led to a situation
where people invest money without really understanding the logic or the rationale behind the
investments made. Further the guiding force in investment
Financial planning is an indispensable activity for business, student self employed professional etc
but it is critical for a salaried person . the reason for this limited and fixed resource for a flow of
income it is important to understand the spending and saving pattern, being productive alone is not
sufficient it is critical to be more efficient and effective money wise

Some benefits like life and health insurance for salaried employees provide risk coverage one can
make better financial plans through tax saving and paying proper taxes . tax planning allowsall
elements of the financial plans to function in system to delivers maximum tax efficiency

In short first save for the financial goals and then spend wisely for your needs if our hand earned
money does not work hard for us , the whole purpose of earning get departed one must take charge
his/her financial to ensure financial stability independence

8
 The tax is also important for all the people. Tax is a fee charged by government on a product income or activity,.
There Are Two Type of Taxes – Direct Tax and Indirect Tax

Financial planning is a procedure that a person goes through to establish where they are now (financially),
where they want to be in the future, and what they'll do to get there. Financial planning gives you direction and
a goal to work towards while making financial decisions. It enables individuals to comprehend how each
financial decision they make affects other aspects of their finances. Purchasing a specific investment product,
for example, could help you pay off your mortgage faster or drastically postpone your retirement. Financial
products that serve as an investment vehicle and provide investors with the necessary financial security based
on the risk-return profile of the financial products. Every individual behaves differently when it comes to
investing; therefor investment preferences vary from person to person. Individuals engage in a variety of
financial instruments with the expectation of significant returns over a long period of time and a certain level
of risk. Today, a range of investment paths are available, and an individual must determine which investment
avenue to pursue after doing a thorough market analysis and taking into account his or her specific goals and
circumstances. Each financial decision can be considered in terms of its short and long-term effects on one's
life goals when seen as a whole. A person can also adapt to life changes more readily and feel more confident
that their goals are on track. The purpose of this study is to look at the investment preferences of salaried people
when it comes to various financial products, taking into account demographic aspects.

In an organized society tax is unavoidable because, it is the price paid for administrative and political
stability by the public to the Government. It is the duty of each citizen to pay due taxes in time and not
to resort to any device to evade the payment of taxes Tax planning may be defined as an arrangement of one’s
financial affairs in such a way that without violating n any way the legal provision ,full advantage is taken
of all exemptions, deductions, rebates, allowances and other reliefs or benefits permitted under the Act .So
that the burden of taxation, as far as possible, is the least. Tax planning involves in every case a thorough
and up-to- date knowledge of tax laws. Not only is an up-to-date knowledge of the statute law necessary, but
one must also be aware of the- made laws in the form of

2.1 Overview of the company

The Leading Solutions provides a comprehensive suite of financial services, primarily catering
to investment management, private equity, and advisory needs. Their Private Equity services
focus on providing growth capital to private companies, supporting their expansion,
infrastructure improvements, and project funding needs. The Leading Solutions Capital
collaborates closely with management teams to drive sustainable long-term value. Their
Investment Advisory service is highly personalized, offering strategic guidance on investment
choices aligned with clients' goals. This involves in-depth portfolio management, asset
allocation strategies, and careful risk assessment to maximize returns while balancing
potential risks. For clients looking to secure additional funding, The Leading Solutions offers
Debt and Equity Financing solutions, assisting businesses in accessing the debt and equity

9
 markets. This might include arranging loans, bond issuances, or equity offerings, which can
help businesses fuel growth initiatives or restructure for improved financial health. Another
core service is their expertise in Mergers & Acquisitions (M&A). The Leading Solutions
Capital guides clients through each step of M&A transactions, offering support with
valuations, negotiations, and post-merger integrations, ensuring that each deal is strategically
sound and value-accretive. Additionally, The Leading Solutions has a strong focus on Real
Estate Investments. They help clients identify and capitalize on opportunities within the real
estate sector, whether through acquiring, managing, or developing properties, thereby
generating substantial returns. The firm’s clientele is primarily composed of corporate entities
and high-net-worth individuals, and they excel at customizing solutions to match each client’s
financial goals, risk tolerance, and unique investment preferences. The Leading Solutions
Capital’s approach is highly collaborative, focusing on creating value not only through
financial capital but also through strategic partnerships and expertise.

2.2 Introduction of The Leading Solutions

The management at The Leading Solutions brings together a team of people with wide
experience and knowledge in the financial services domain. The management provides
direction and guidance to the whole organization. It has strong visions for The Leading
Solutions capitals as a globally respected company providing comprehensive services in
financial sector.
The Customer First philosophy is deeply ingrained in the management at The Leading
Solutions. The aim of the management is to bring the best to the customers in terms of,

• Range Of Products and Services Offered

• Quality Customer Service

All the key members of the organization put in great focus on the processes & systems under
the diverse functions of business. The management also focuses on utilizing technology as the
key enabler for all the activities and to leverage the technology for enhancing overall customer
experience.
Built On Trust

An evolving, emerging & enterprising group with its roots in the financial services sector and
today expanding into newer horizons with great passion.
The vision of the group is to be leaders in businesses driven by customer satisfaction,
commitment to excellence and passion for continued value creation for all stakeholders. This
vision has helped

10
 us grow and build the trust of our customers and associates which is at the cornerstone of
everything we do. Trust is also at the heart of our success and the driver for passion for our success.

2.3 vision and mission of The Leading Solutions Capital Services invest:

Vision:

• To be the leader in their field of business through,

• Total Customer Satisfaction
• Commitment to Excellence
• Determination to Succeed with strict adherence to compliance

Mission:

Ensure creation of the desired value for our customers, employees and associates,
through constant improvement, innovation and commitment to service & quality.
To provide solutions which meet expectations and maintain high professional &
ethical standards along with the adherence to the service commitment.

2.4 The Leading Solutions Products:

The Leading Solutions’s product offerings include a variety of specialized financial solutions
designed to meet the needs of corporate clients and high-net-worth individuals. Here’s an outline
of their core products:

1. Growth Capital: This product provides equity financing for private companies looking to
expand, enabling them to grow operations, enter new markets, or enhance infrastructure. The
Leading Solutions partners with management teams to drive value creation and long-term growth.

2. Debt Financing Solutions: The Leading Solutions offers customized debt solutions, including
11
 corporate loans, bonds, and structured financing. These products allow companies to secure the
capital they need for expansion, working capital, or refinancing existing debts.

3. Equity Offerings: Through initial public offerings (IPOs), secondary offerings, or private
placements, The Leading Solutions supports businesses in raising equity capital. This helps them
fund projects, improve capital structure, or facilitate ownership transitions.

4. Real Estate Investment Products: The Leading Solutions provides real estate investment
opportunities across commercial, residential, and mixed-use developments. These products allow
clients to participate in real estate markets through acquisitions, property management, and
development projects for long-term returns.

5. Private Equity Funds: The Leading Solutions manages private equity funds that pool capital
from investors to invest in high-growth companies. These funds are actively managed and
structured to deliver strong returns over a defined period.

6. M&A Advisory Products: M&A products at The Leading Solutions cover advisory for
mergers, acquisitions, divestitures, and joint ventures. They provide tailored solutions, including
valuations, strategic planning, and deal structuring, to ensure seamless transactions.

7. Portfolio Management Services: Tailored portfolio management products allow clients to

customize their investment strategies based on their financial goals and risk tolerance, covering
diversified asset classes to optimize returns.

8. Wealth Management Solutions: These products include comprehensive wealth planning,

retirement solutions, and estate planning to meet the personal financial goals of high-net-worth
individuals.
12
 Each product is designed to align with The Leading Solutions’s commitment to strategic growth,
sustainable returns, and client-focused investment solutions, making them a versatile provider for
varied financial needs.
Real Estate:

• Residential properties:

• Commercial properties

Training & Education:

• Certification training courses

• AMFI
• CFP
• Training products

13
 Partner Services:

• Dedicated Relationship Manager

• Marketing &Sales support
• Research support
• Training &Education support
• Dedicated Customer Care / Query management support
• Technological support, including online business / 'Partners Desk' with CRM
& Employee Management modules

14
 2.5 Organizational structure

The Leading Solutions’s organizational structure typically includes a streamlined hierarchy

focused on ensuring efficient decision-making and client service delivery. Here’s an overview of
the key roles and departments often found within such financial firms:

1. Executive Leadership:

CEO: The Chief Executive Officer oversees overall strategy, vision, and growth objectives for The
Leading Solutions, working closely with senior leaders to drive the firm’s long-term goals.

COO (Chief Operating Officer): Responsible for managing day-to-day operations, ensuring
seamless coordination between departments and optimizing organizational processes.

CFO (Chief Financial Officer): The CFO handles financial management, budget oversight, and
ensures compliance with financial regulations, maintaining fiscal health and reporting.

2. Investment Division:

Chief Investment Officer (CIO): The CIO heads the investment team, guiding investment strategy,
managing portfolio performance, and overseeing risk management.

Portfolio Managers: These professionals handle specific funds or client portfolios, implementing
the investment strategy and ensuring clients’ objectives are met.

Analysts and Associates: Supporting the portfolio managers, they conduct research, perform
financial modeling, and analyze investment opportunities.

15
 3. Private Equity and M&A Team:

Head of Private Equity/M&A: This leader is responsible for identifying, evaluating, and executing
private equity investments and M&A opportunities.

Investment Associates and Analysts: They support deal sourcing, due diligence, and valuation
processes, assisting with the execution of transactions.

4. Real Estate and Alternative Investments:

Director of Real Estate Investments: Oversees real estate portfolios and evaluates potential
investments in commercial and residential properties.

Real Estate Analysts: Conduct market research, asset valuations, and risk assessments to support
property acquisition and management.

5. Client Advisory and Relationship Management:

Client Advisors: These professionals manage relationships with high-net-worth clients, offering
personalized investment solutions and ensuring client satisfaction.

Wealth Management Team: This team develops wealth planning strategies, retirement solutions,
and estate planning for individual clients.

16
 6. Operations, Compliance, and Legal:

Operations Team: Manages back-office functions, including trade processing, reporting, and
record-keeping.

Compliance Officer: Ensures that The Leading Solutions adheres to regulatory standards and
ethical practices.

Legal Counsel: Handles all legal matters, from contract negotiations to regulatory compliance and
litigation.

17
 SWOT Analysis:

For Good marketing plans THE LEADING SOLUTIONS Wealth have always begin
with a SWOT analysis. SWOT stands for Strengths, Weaknesses, Opportunities and
Threats. A tool used in marketing campaigns and other strategic planning, like public
relations, a SWOT analysis is indispensable in marketing a business.

Strengths - Internal attributes that are helpful to the organization to achieving its objective.
Weaknesses - Internal attributes that are harmful to the organization to achieving its objective.
Opportunities - External factors that help the organization achieve its objective.
Threats - External factors that are harmful to the organization to achieving its objective.

18
 SWOT OF TLS

STRENGTH WEAKNESS

Internal attributes and resources that Internal attributes and resources that
support a successful outcome. work against a successful outcome
• TLS Technology and Marketing • TLS Brokerage is less than others
Strategy
• Dependency on third party
• Loyal and Satisfied Employees
• Faces competition from companies
• Large and diversified distribution seeking attract client financial
network. assets
• Experienced top management.
• Whole range of financial products

OPPORTUNITY THREAT
External factors that the entity can
capitalize on or use to its advantage External factors that could jeopardize
the entity's success
• TLS can start their own AMC and • TLS’s competitors are threat for
can generate scheme of mutual fund THE LEADING SOLUTIONS
• Grow fee base revenue. • Slowdown in economic growth in
• Growing rural market India could adversely impact take
• Earning urban youth looking for business
investment

19
 2.6 The Seven Elements of the McKinsey 7-S Framework

Those seven elements are distinguished in so called hard S’s and soft S’s. The hard elements are
feasible and easy to identify. They can be found in strategy statements, corporate plans,
organizational charts and other documentations. The four soft S’s however, are hardly feasible.
They are difficult to describe since capabilities, values and elements of corporate culture are
continuously developing and changing. They are highly determined by the people at work in the
organization. Therefore it is much more difficult to plan or to influence the characteristics of the
soft elements. Although the soft factors are below the surface, they can have a great impact of the
hard Structures, Strategies and Systems of the organization.

Hard Element Soft Element

Strategy Share
Structure value Skill
System Styl
e
Staff

The three "hard" elements are strategy, structures (such as organization charts and reporting lines),
and systems (such as formal processes and IT systems.) These are relatively easy to identify, and
management can influence them directly.
The four "soft" elements, on the other hand, can be harder to describe, less tangible, and more
influenced by your company culture. But they're just as important as the hard elements if the
organization is going to be successful.

The Hard S’s

• Strategy: this is your organization's plan for building and maintaining a competitive
advantage over its competitors. Actions a company plans in response to or anticipation of
changes in its external environment THE LEADING SOLUTIONS always changes their
policy time to time and accounting to the specific period to Mach the external factors of
the company.

20
 • Structure: this how your THE LEADING SOLUTIONS is organized (that is, how
departments and teams are structured, including who reports to whom)

• Systems: the daily activities and procedures that staff uses to get the job done Formal and
informal procedures that support the strategy and structure. (System is more powerful than
they are given credit) THE LEADING SOLUTIONS have many formal systems like- any
decision or order are passes in a vertical way and each and every customers required to
follow that and certain informal systems also which creates friendly environment in the
company.

The Soft S’s

• Shared values: these are the core values of the organization, as shown in its corporate
culture and general work ethic. They were called "super-ordinate goals" when the model
was first developed. Manager of TLS insurance guiding concepts, fundamental ideas around
which a business is built – must be simple, usually stated at abstract level, have great
meaning inside the organization even though outsiders may not see or understand them and
it helps THE LEADING SOLUTIONS insurance to achieve their goals.

• Style: the style of leadership adopted. The culture of the organization, consisting of two
components: I. Organizational Culture: TLS insurance dominant values and beliefs, and
norms, which develop over time and become relatively enduring features of organizational
life and that creates loyalty in the staff. It shows the responsibility of TLS insurance manager
and they are continuously getting updates and knowledge of their customers and help them
to improve their knowledge about life care. Because it ultimately helps to the manager to
achieve their goals and targets.

• Staff: the employees and their general capabilities. The people/human resource
management TLS insurance are processes used to develop managers, socialization processes,
ways of shaping basic values of management cadre, ways of introducing young recruits to
the company, ways of helping to manage the careers of TLS staff to build in a batter way

• Skills: the actual skills and competencies of the organization's employees. The distinctive
competences TLS insurance does best, ways of expanding or shifting competences by

21
 promoting their service in a different way and also doing occasional promotion to
increase the consumer of the company.

Core Business strategy:

A business strategy is a set of competitive moves and action that business uses to attract
customers, strengthening performance, and achieve company goal. It outlines how
business should be carried out to reach desired ends. So, here the strategy of THE
LEADING SOLUTIONS is to provide good service and facilities for customer and
think about customer benefit. THE LEADING SOLUTIONS for that we have to
understand the customer needs Income, constraints, response and emotions So that
they can contribute their time for becoming Life advisors for the Company. The
objective of this study was to analyze consumer satisfaction of mechanical splicing in
Gurgaon city with respect to the performance, sales effort and sales service.

22
 1 WHAT IS FINANCIAL PLANNING

Financial planning is the process of achieving your life goal by using different investment options
with your current resources through proper and disciplined money management so financial
planning is not only about money but all about life ,about fulfillment yours wishes dreams ,
aspiration and your enjoyment is achieving them . financial planning is this procedure of
developing a personal road map for the financial well being of the investor .below are the input of
the process of financial planning

The finances of the investor i.e the income of the investor , liabilities and his /her assets

The risk appetites of the investor

The goals of the investors i.e his /her future ans current financial requirement

seems to be the "rebate" they receive from the individual agents and advisors. The more the rebate
an agent gives, the self-satisfied person are in the belief that they have made an intelligent decision
of choosing the right agent who has offered them more rebate. In the process what is not being
realized is the fact that the financial future is getting compromised

taxes are consider to the” cost of living in a society “ taxes are levied by the government to meet
the common welfare expenditure of the society

.There are Two Type Of Taxes:

a. Direct Taxes

b. Indirect Taxes

a. DIRECT TAXES

if tax is levied directly on the income or wealth of the person then it is a direct tax .the person who
Pay the tax to the government cannot recover it from somebody else i.e .the burden of direct tax
cannot be shifted eg income tax

b. INDIRECT TAX

if the tax is levied on the price of the good or service , then it is an indirect tax eg. Goods and
service tax GST or custom duty .in the case of indirect tax the person paying the tax passes on the
incidence to another person

23
 TAX STRUCTURE IN INDIA

• Direct Tax

• Indirect Tax

• Income Tax

• Wealth Tax

• Gift Tax

• Capital Gain Tax

• Service Tax

• Customs Tax

24
 a. DIRECT TAX

A direct tax is one imposed upon an individual person (eg real and personal property ,livestock
,crops ,wage ,ect) as distinct from a tax imposed upon a transaction in this sense ,indirect tax such
as sales tax or value added tax vat are imposed only if and when a taxable transaction occurs people
have the freedom to engage in or refrain from such transaction whereas as direct tax is imposed
upon person ,typically in an unconditional manner ,such as a poll-tax which is imposed on the
basis of the persons very ;life or existence or a property tax which is imposed upon the owner by
virtue of ownership ,rather than commercial use some commentators have argued that “a direct tax
is one that cannot be shifted by the taxpayer to someone els

direct tax is supposed to be borne and paid by the same person .the person who pays the amount
of direct tax does not recover all part of the tax else where . it is this sense that direct taxation is
opposed to indirect taxation it is the notion of fiscal incidence which allows to analysis who
ultimately ,weights the burden of tax that determines whether the tax is direct or indirect direct tax
is generally declarative

the unconditional inexorable aspect of the direct tax was a paramount concern of people in the 18th
century seeking to escape tyrannical form of government and to safeguard individual liberty

DEFINITION

A direct tax is a tax that a person or organization pays directly to the entity that imposed it an
individual taxpayer for example, pays direct tax to government for various purpose , including
income tax ,real property tax ,personal property tax , or taxes on sales

25
 direct tax is paid by an individual or organization to entity that levied the tax

direct tax include income taxes, property taxes and taxes on assets

there are also indirect taxes, such as sales taxes, where a tax is levied on the seller but paid bythe
buyer

INCOME TAX

income tax is direct tax that government levies on the income of the citizens .the income tax act
1961 mandates that the central government collect this tax .the government can change the income
slabs tax rate every year in its union budget

income does not only mean money earned in the form of salary it is also include income from
house property ,profit from business ,gain from profession bonus ,capital gain income ,and income
from other sources the government also often provide certain leeway such as that various deduction
are made from individuals income before the tax to be levied is calculated

Type of Financial Planning

▪ Cash Flow Planning:

it is one of the important type of financial planning. individual or companies predict their short
term and long term expenses based on the projected cash flows . but there are also time when
emergency expenses or unexpected expenses occur. Once it should plan its cash flow appropriated
.an incorrect cash flow plan can lead to bankruptcy

▪ Insurance Planning:

long term insurance is very important type of financial planning in unforeseen circumstance, if
you fail to make an insurance plan in advance, it will also destroy your other financial plans
insurance depends on the individual lifestyle. before buying any insurance, you should analyze

▪ Investment Planning:

once should make your investment plan to achieve your goal in your life your investment plan is
always based on your saving once you know amount of saving you can take the help of financial
adviser for various investment opportunities like fixed income, investment in stock,\gold ect.

26
 ▪ Tax Planning:

proper tax planning can help you maximize financial saving . countries provide taxpayers with
various concession and exemption . you should be educated and draft a plan at the end of the year
. you can enjoy the benefit of the tax exemption and minimize your tax

CONCEPT & SIGNIFICANCE OF THE STUDY

Financial Planning is an integral part of any individual life, especially in this modern world where
value of everything is expressed in terms of money. The active working span of human life is short
as compared to the life span. This means people will be spending approximately the samenumber
of years in after retirement what they have spent in their active working life. Thus, it becomes
important to save and invest while working so that person will continue

Product profile:

Can provide managed services , application hosting (cloud) or deploy solution inside your
firewall

Employee our clients and help transition to lower cost operation models

Extensive experience in continuous delivery and dev ops allow us to effective operation and
optimize system

1.2 OBJECTIVE OF THE STUDY

• To know about employee tax planning

• To know investment plan about financial planning among work class people
• To understand the saving investment behavior of the salaried employee BIZDOM

PRIMARY OBJECTIVE

• To understand financial planning done by salaried employees

• To spread awareness about financial planning among the working-class people

• To understand the saving-investment behavior of the salaried employees

• To understand the importance of tax planning

27
 SECONDARY OBJECTIVE:

• To gain knowledge about the various investment avenues keeping in mind the significance of
tax saving

• To understand how savings can be increased for the future using different instruments

• To find out the most suitable investment instrument for salaried investors

• To examine the amount saved by using that instrument

1.3 NEED FOR THE STUDY

Financial planning is an integral part of any individual life especially in the modern world it
become important to save and invest while working life so that person will continue to earn a
satisfaction income and enjoy a comfortable

28
 1.4 SCOPE OF THE STUDY

The scope of study is getting familiar with various investment avenues available in market. To
study the life stages of an individual and to identify their risk tolerance, income flow, life goals
and current investment. Study should cover all areas of the individual’s financial needs and should
result in the achievement of each of the individual’s goals. The scope of planning will include the
following:

• Risk Management and Insurance Planning

• Investment Planning

• Retirement Planning

• Tax Planning

29
 1.9 LIMITATIONS OF THE STUDY

• The analysis of the study was carried on the information collected from salaried
employees.

• Due to time and resource constraints, only 150 respondents were considered.

• The result fully depends on the information givenby

the respondents which may be biased.

Some of the tax saving method used during tax planning are follow

For income under salary

It should be ensured that under the term of employment dearness allowance and dearness pay form
basic salary this will minimize tax incidence on house rent allowance ,gratuity and commuted
pension likewise , incidence of the tax on the employer’s contribution to a recognizedprovident
fund will be lesser if dearness allowance from a part of basic salary

As un commuted pension is always taxable ,employees should get their pension commuted pension
is fully exempted from tax in the case of government employees and party exempted from tax in
the case of non government who can claim refunded

An employee being in the member of provident fund who resign before completing five year of
contribution services should ensure that he joins a company which maintain a recognized provident
fund for reason that the accumulated balance of the balance of the fund with the former employee
who also maintain provident fund

Instead of employee receiving of allowance from employee can clam those reimbursement is
not taxable

Since the term salary include basic salary bonus commission fees and all other taxable allowance
for the purpose of valuation of perquisites in respects of advantage

30
 Concept of income under the income tax act 1961

A regular receipted VIS-A-VIS casual receipt income in general means a periodic monetary return
which accrue regularly from definite sources however under the income tax act 1961 even certain
casual receipts which do not arise regularly are treated as income for tax purpose wining

Revenue receipt VI-A-VIS capital receipt

Income normally refers to revenue receipts capital receipts are generally not included within the
scope of income in general parlance. however the income tax act 1961 has specifically certain
capital receipts within the definition of income capital gain ,gain on sales of capital assets like land

Net receipts VIS-À-VIS gross receipts

Income means net receipts and net gross receipt are arrived at after deduction the expenditure
incurred in connected with earning such receipts the expenditure which can deducted while
computing income under each head is prescribed under the income tax 1961 income from certain
eligible business profession is also determined on presumptive basics a certain eligible business

31
 Chapter 2

LITERATURE REVIEW

2.1 REVIEW OF LITERATURE

Gaurav Kumar Advaita (2018): “Private saving and investment choices are affected by the tax
structure, though the magnitude and net direction of the effects are not so clearly seen. There is no
clear strategy to use the tax system to increase the rate of private saving in African countries but
these packages of effects may be considered.” Compulsory payroll savings programs used in
Ghana encourage savings; interest and dividend income often are not fully taxed, which
encourages savings.

Dhruv Aryan Tandon & Mohsin Ali (2019): A study on the perceived institutional challenges
facing tax administration in Ghana concluded that the tax burden does not appear to be fairly
distributed. The informal sector keeps growing, but the tax authorities have still not been able to
widen the tax net to cover this category.

Bhuvan Bal & Harshit Nanda (2021): The main objective of the study was to find out the
relationship between saving and investment patterns and orientation toward finance.

Neha Agarwal (2020): Tax planning is an essential part of financial planning. The main purpose
of the study is to find out about awareness and alternative tax planning.

Siddharth Yadav & Kunal Mishra (2018): This research focuses on the need and importance of
retirement planning. There is a noted change in individual investments in India over the last couple
of years.

Sachin Verma & Meenal Lakshmi (2017): Tax-saving schemes and tax-saving instruments of
income tax in India are studied to understand the planning of individual income tax and related
saving instruments.

Kabir Anand, Rajat Oberoi & Jai Patel (2016): The study described tax allowances and
expenditures. Tax reliefs are granted by the government to encourage actions such as caring for
the aged and educating children. Reliefs are approved to reduce tax liability.

32
 Gaurav Sharma (2020): Awareness and perception regarding tax planning among salaried people.

Prof. Uma Dubey & Prof. Harsh Malhotra (2017): Financial planning for salaried individuals for
tax saving.

Siddharth Dixit & Varun Kapoor (2020): Tax-saving investment strategies among salaried
individuals.

Meher Ahmed Shaikh & Arif Shaikh (2020): A financial plan is created after considering current
income, savings, expenses, and future earnings.

Kunal Swamy & Devendra Vyas (2020): Tax planning and analysis on housing loans. Housing
loans enable individuals to own homes while reducing tax burdens.

Kartik Sehgal (2019): Adam Smith in The Wealth of Nations (1776) wrote under the Benefit theory
that public benefits, such as defending the country, justify the whole population contributing to tax
costs.

Suman Pandey & Vidya Chaturvedi (2019): A study on the awareness of tax-saving instruments
among individual taxpayers.

Shruti Rana (2020): An analysis of the investment and saving patterns of salaried employees
revealed that men opt for higher-risk investment options compared to women.

Sneha Gupta (2017): Financial literacy comprises skills and knowledge that enable individuals to
make informed financial choices.

Anand Krishna Srivastava (2018): The research focuses on the investment behavior of government
employees toward different financial products.

Zoya Khan & Reena Devi (2019): The research analyzes awareness, perception, and behavior
regarding different investment avenues among salaried individuals.

Kunal Mehra (2019): A study of tax-saving instruments' awareness and perception among
individual taxpayers in Delhi and Faridabad.

Amit Mehta & Arif Khan (2020): Salary workers’ decision-making regarding financial assets and
tax savings.

33
 RESEARCH DESIGN

Type of research :

Descriptive Research

Research Equipment: Questionnaire

Sample Technique: Random Sampling

MethodSample Size :

Sample Design: Data Has Been Presented With The Help Of The And Pie And Bar

GraphPrimary Source:

The Primary Data Has Collected For The Study Was Through Questionnaire

Secondary Source:

The Secondary Data Has Collected for Study Gather Are Already Existed Data

34
 Chapter 3

RESEARCH METHODOLOGY

3.1 RESEARCH METHODOLOGY

This study is based on primary data collected from salaried employee income tax from the
DELHI NCR city . Secondary data collected from various sources such an article ,journals
,magazine and this research work is examine to salaried employee financial planning assetsonly
the primary data is collected through directly from the employee by questionnaire

3.2 RESEARCH DESIGN

Descriptive research design

Descriptive research is a study designed to depict the participant in accurate way more simply
put ,describing people

What is descriptive research

Descriptive research is a research method describing the characteristics of the population or

phenomenon studied. This descriptive methodology focuses more on the “what” of the research
subject than the “why” of the research subject.

The method primarily focuses on describing the nature of a demographic segment without
focusing on “why” a particular phenomenon occurs. In other words, it “describes” the research
subject without covering “why” it happens.

Survey research

In survey research, respondents answer through surveys or questionnaires or polls. They are a
popular market research tool to collect feedback from respondents. A study to gather useful data
should have the right survey questions. It should be a balanced mix of open-endedquestions and
close ended-questions. The survey method can be conducted online or offline, making it the go-to
option for descriptive research where the sample size is enormous.

35
 Sample design: data has been presented with the help of the and pie and bar graph

Primary source:

The primary data has collected for the study was through questionnaire

Secondary source:

The secondary data has collected for study gather are already existed data

Sampling technique

What is Random Sampling?

Random sampling, or probability sampling, is a sampling method that allows for the
randomization of sample selection, i.e., each sample has the same probability as other samplesto
be selected to serve as a representation of an entire population.

Random sampling method

A random sample is one of the main type of probability sampling method . a random sample is
made up of people who are easy to research

Random sampling is considered one of the most popular and simple data collection methods in
research fields (probability and statistics, mathematics, etc.). It allows for unbiased data collection,
which lets studies arrive at unbiased conclusions.

3.3 DATA COLLECTION M SOURCE OF DATA

⦿ From the survey

⦿ Primary data : collected through the questionnaire and observation

⦿ Secondary data : data available on the journal and Report

36
 In this research internal and external source of data are used . collection raw materials throughfacts
figure of researchers work .collected data from company records in document these are allinternal
data are external in data collection these are 2 type

⦿ Sampling unite : private employee

⦿ Sample location : DELHI NCR

⦿ Sampling frame : all employee having the professional qualification in selected

organization

3.4 STRUCTURE OF QUESTIONNAIRE

⦿ The basic requisite of the research study is the appropriate data which can be collected with
help of a schedule or questionnaire with the help of the questionnaire it is easy to determine
the impact of work balance

Types of question

⦿ Direct questions

⦿ Multiple choice questions

⦿ Yes or no type questions

3.5 SAMPLE SIZE

Sample size The number of individuals to be polled is indicated by logistics. Although big samples
provide more trustworthy findings than small samples, owing to time and financial constraints,
150

37
 3.6 PERIOD OF STUDY

The period of the study is determined in the research process carried out 3 month January to
march

3.7 PROFILE OF THE STUDY

This study was carried out financial planning for salaried employee of this industry aretarget
people of the study

Location &targeted people of the study

In DELHI NCR the employees of the BIZDOM SOLUTION are the targeted people in the study

3.8 HYPOTHESIS

Null hypothesis(Ho):

There is no significant between the employee Knowledge and the tax planning

Alternative hypothesis(H1):

There is significant between the employee knowledge and the tax planning

Tool for analysis

⦿ ANOVA

The tool use for the analysis is the chi square and the anova are the tool used in this study

38
 ANOVA

Develop p by Ronald , ANOVA strands for analysis of variance .one way analysis of variance
tell you if there any statistical cal difference between the means of three or more independents

39
 Chapter 4
DATA ANALYSIS AND INTERPRETATION

4.1 DATA
ANALYSIS

S.NO ANNUAL INCOME RESPONDENTS PERCENTAGE

1 250000 25 16.7%
2 500000 72 48%
3 750000 43 28.7%
4 1000000 10 6.7%
150 100%

RESPONDENT
160 150
140
120
100
80 72

60
43
40 25
20 10
0
16.70% 48% 28.70% 6.70% 100%

RESPONDENTS

40
 PERCENTAGE
6.70%
16.70%

28.70%

48%

250000 500000 750000 1000000

ANNUAL INCOME

Interpretation
from the above chart that the number of employee annual income 6.7%1000000 ,16.7% 250000
,48% 500000

Inference

Majority of the 48% annual income is 500000

41
 S.NO EDUCATION RESPONDENT PERCENTAGE
1 UG 104 69%
2 Other 7 5%
3 PG 36 24%
4 +2 3 2%
150 100%

RESPONDENT
120
104
100

80

60
36
40

20
7 3
0
UG Other PG 2

RESPONDENT

42
 PERCENTAGE
2%

24%

5%

69%

UG Other PG 2

EDUCATION QUALIFICATION

Interpretation

From the above chart the interpretation that the number of respondent is UG is 69.3,34% is PG

Inference

Majority 69.3 f the respondents PG

43
 S.NO GENDER RESPONDENT PERCENTAGE
1 Male 62 40.1%
2 Female 88 59.1%
150 100%

GENDER

40.10%

59.10%

Male Female

GENDER OF THE RESPONDENTS

Interpretation

From the about chart interpretation that number of the male respondents 59.1 and the female
respondent 40.8%
Majority 59.1% of the respondents are male Inference.

44
 S.NO TAX RESPONDENT PERCENTAGE
1 STRONGLY AGREE 17 11.3
2 DISAGREE 52 34.7%
3 AGREE 40 26.7%
4 STRONGLY AGREE 24 16%
5 NEUTRAL 17 11.3%
150 100%

TAX RESPONSE
11.30% 11.30%

16%

34.70%

26.70%

STRONGLY AGREE DISAGREE AGREE STRONGLY AGREE NEUTRAL

TAX PLANNING IS USEFUL FOR MONTHLY BUDGET

Interpretation

From the above chart it is in interpretation the number of respondents were 26% ,strongly agree
11.3% neutral , 11.3% strongly disagree , 32.7 disagree Inference Majority of 32.7 disagree the
tax planning is not useful for monthly budget

45
 The chart represent the age of the respondents

46
 Interpretation

From the above table is interpreted the table number of respondents below 22 is 0.7

Between the age 22is 0.7 the age of the employee 24 is 8% , the age of respondents26 is 8% ,
the age of respondents 26 -28 is 4

The respondents 22- 26 is 10.7

Inference

Majority of the respondents age is 22 to 26 10.7

Statistical analysis

Hypothesis 1

There is no significant difference between

Statistical analysis

H0 there is no significant between tax planning and the knowledgeH1 there

is significant between is tax planning and the knowledge.

47
 4.2 ANOVA

Symmetric Measures
Approxim
ate
Value
Significan
ce
Nominal by Phi 1.414 .457
Nominal Cramer's V 1.000 .457
N of Valid Cases 150

From result the p value is greater than 0.05 for all factor hence there is no significant reject the
H0

48
 Case Processing Summary
Cases
Valid Missi Tota
ng l
N Percent N Percent N Percent
Timestamp * 15 57.0 11 43.0 26 100.0
0 % 3 % 3 %
Investment planning
is useful for
employees

Case Processing Summary

Cases
Valid Missi Tota
ng l
N Percent N Percent N Percent
name * Investment 26 100.0 0 0.0 26 100.0
planning useful for 3 % % 3 %
employees

49
 FINDING

5.1 Finding of the study

Majority (59.1%)of the respondents female

Majority() of the respondents is age group

Majority (66%) of the respondents belong to UG education qualification Majority

(48%)of the respondents belong to annual income 250000-500000.

50
 5.2 SUGGESTIONS

• Financial planning for salaried employees is not just a compelling process; it is a basic need
for every individual and his/her family. It is a complete cycle starting from monthly budget to
retirement planning. The process comprises Budgeting, Insurance, Goal-Based Investments,
Getting out of debt, and Retirement.

• It is important to spread your financial planning to include investments such as Equity-

LinkedSavings Schemes (ELSS), Long-Term Capital Gains from the Sale of Long-Term
Assets, and Agricultural Income because of the tax savings they give.

• Public Provident Funds, Educational loans, Voluntary donations, Home loans, Interest Income
on Savings Accounts, and Unit-Linked Insurance Plans are all some of the tax savings strategies
for salaried employees.

• Not all tax savers are the same in terms of asset class, so one should choose to use the
instrument that best suits their individual needs. The safety, liquidity and returns of the tax
savings instrument should be taken into consideration. No financial decisions should be made
based on the returns to be gained. Your goal is not only to save on taxes but also to achieve
different goals you have set for yourself. Hence, one should always have definite and should
link their tax instruments to the desired goal.

5.3 CONCLUSION

Salary employees spent their whole lives working, spending the money they earn and hopefully
saving a little for the future. When you retire, everything you have ever experienced about
managing your finances gets turned upside down. You no longer earn as much or any money
from work lee to have much energy to do so. You have to figure out how to make do with and
maximize what you already have. Instead of saving as much as possible, the new objectives

51
 include developing retirement income strategies by creating predictable retirement income out
of what you have. This study aims to analyze tax

Tax-saving is only a smart part of a broad category called financial planning. There is more to a
financial plan than what meets the eye. For a financial plan to be successful, it should have a
proper investment plan that saves taxes. Irrespective of the plan you choose, few things remain
constant Saving strategies adopted by salaried employees and their impact on their financial
planning and investment goals for a comfortable life during retirement.

REFERENCE

Arjun Mishra & Mohit Awasthi (2019, Dec): Tax administration in Ghana: Perceived
institutional challenges. AFROBAROMETER BRIEFING Paper No. 124.

Cadence (2008, Mar): Encounter user guide. Version 6.2.4.

Mohan Kumaraswamy & Devendra Mehta (2020): Tax planning - An analysis on housing loans.
Journal of Emerging Technologies and Innovative Research (JETIR), 7(6), 1685-1688.

Neeraj Khurana (2020): Tackling tax incentives in Ghana. Public Services International.
Available at: world-psi.org.

Priya Verma (2021): An analytical review on the impact of Section 5A of the Income Tax Act
1961 on the income of salaried Goans. Sambodhi, 43(3), 66-78.

Sheetal Rokde (2020): An analysis on investment and saving pattern of salaried employees.
International Journal of Creative Research Thoughts (IJCRT), 8(10), 1283-1302.

Kartik Saravanan & Muthu Lakshmi (2017): Tax saving scheme and tax saving instruments of
income tax in India. IJSRD - International Journal for Scientific Research & Development, 5(7),
755-759.

52
 Manish Sharma, Gautam Patel & Abhay Walia (1990): Tax planning, regulatory capital
planning, and financial reporting strategy for commercial banks. The Review of Financial
Studies, 3(4), 625-650. https://doi.org/10.1093/rfs/3.4.625

Mansi Shetty & Gopal Krishnan (2013): An analysis of investors' attitudes towards various tax
saving schemes. International Research Journal of Business and Management (IRJBM), 1, 11-
29.

Kunal Sen (2019): An assessment of gift tax administration in Ghana: A case study of non-
accounting postgraduate students of Ghana.

Suchitra Pandey & Vidya Choudhary (2019): A study on the awareness of tax saving
instruments of individual taxpayers.

Sujata Gupta (2014): A comprehensive analysis of tax planning strategies.

IJERTCONV2IS13131, Volume 2, Issue 13; Published (First Online): 30-07-2014.

Varsha Virani (2013): Saving and investment pattern of school teachers – A study with reference
to Rajkot City, Gujarat. Abhinav Journal, 2(4).

Vipul Vyas et al. (2002): Surveyed investors to examine their investment literacy and the
relationship between literacy and online investor characteristics

53
 QUESTIONNAIRE

Myself, Vishal Kumar, Student of NIET Business School, Greater Noida , pursuing PGDM
Program, wish to study in depth the importance of An Analysis of Customer Behavior
Towards “WEALTHPLAN: EMPOWERING EMPLOYEES”, as a part of Summer Internship
Project. The survey would not take more than 5 minutes of your time.

1. Gender -  - Male  - Female

2. My Age  - 20 to 25 years  - 26 to 40 years

 41years and above

3. Education  - UG  - PG
 - +12  - Others

4. Annual Income  - Rs 2,50,000  - Rs 5,00,000

 - Rs 7,50,000  - Rs 10,00,000

5. Are you interested in tax planning and investment?  - Yes  - No

6. Is your income sufficient for your needs?  - Yes  - No

7. Is investment planning useful for employees?  - Yes  - No

8. Do you know about the current tax plans?  - Yes  - No

9. Does financial planning make monthly budgeting easier?  - Yes  - No

10. Do you have a secondary source of income?  - Salary  - No

 - No secondary income

11.Do you have a significant volume of cash transactions?  -

Yes  - No

54
 12. Are you interested in tax benefits?  - Yes  - No
Products ?

13. Do you analyze your asset allocation?  - Yes  - No -

Maybe

14. Are you planning to reduce your income tax liability?  - Yes  - No

15. Do you develop an estimated financial plan?  - Yes  - No

16. Are you looking to increase your current income?  - Yes  - No

55
56