Journal Press India^®

Author Details ( * ) denotes Corresponding author

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.

1. Gautam, S. (May, 2013). Income tax planning: A study of tax saving instruments. International Journal of Management and Social Sciences Research, 2(5), 83-91.
2. Mathew, R. (2016). Tax planning among working women with special reference to Cochin city. International Journal of Engineering Science and Computing, 6(5), 5421-5426.
3. Patil, S. (September–October, 2014). A study on preferred investment avenues among salaried. IOSR Journal of Economics and Finance (IOSR-JEF), 5(2), 09-17.
4. Sanket, L. & Charkha, D. J. (June, 2018). A study of savings and investment pattern of salaried class people with special refernce to Pune city. International Journal for Research in Engineering Application & Management, 4(3), 439-444.
5. Saravanan, D. K. (August, 2017). Tax saving instruments of income tax in India: A study on tax assessee in Trichy city. International Journal of Trend in Scientific Research and Development, 1(5), 1258-1266.
6. Thakur, A. (3 March, 2020). Economic times. Government collects Rs. 7.52 lakh crore direct tax in April - January. Retrieved from https://www.livemint.com/news/india/govt-collects-rs-7-52-lakh-cr-direct-tax-in-apr-jan-11583239520506.html.