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Tax Planning and Tax Management of Salaried Individuals: A Study of Bardoli Region

Vol 7 , Issue 1 , January - June 2020 | Pages: 34-48 | Research Paper  

 
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https://doi.org/10.17492/vision.v7i1.195703


Author Details ( * ) denotes Corresponding author

1. Yagna Vyas, Assistant Professor, Department of Management, B. V. Patel Institute of Management, Bardoli, Gujarat, India (yagna.vyas@utu.ac.in)
2. * Vijay R. Gondaliya, Associate Professor, Department of Management, B. V. Patel Institute of Management, Bardoli, Gujarat, India (vijay.gondaliya@utu.ac.in)

The main aim of this study is to check an individual’s knowledge of tax planning and management and to measure it with demographic factors. This study focuses on professional help and advice for return filing and tax planning. Primary data has been collected with a structured questionnaire by using Google doc. The data is collected from 250 salaried individual assesses of Bardoli region through convenience sampling. For statistical analysis, Chi-square test has been applied. The findings of the study show that demographic factors of salaried people affect the knowledge of tax planning. The analysis reveals that higher-income individuals need professionals’ help to manage their tax, but qualified people are having sufficient knowledge for the same. The respondents are investing and knowing 80C and 80D deductions but they are not taking education loans and giving donations for the purpose of deduction.

Keywords

Tax planning; Tax management; Demographic factor; Awareness.

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