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This study examines public attitudes, behaviours, and sources of information related to tax
planning, financial literacy, and taxation policies in India. Based on data gathered from 51
respondents via a structured questionnaire, the research sheds light on how individuals and
businesses navigate the country’s tax system and the support frameworks available to them.
The findings indicate that a significant number of participants seek guidance from financial
professionals and engage in educational activities to enhance their understanding of taxation.
Government websites were cited as the primary source of tax-related information, underscoring
a preference for official and trustworthy channels. Moreover, tax incentives were recognized
as influential in shaping economic decisions, particularly in sectors such as renewable energy,
education, and small business growth.
Participants identified income tax as the most impactful on personal financial planning, often
adjusting their strategies in response to recent reforms. On the business side, tax credits and
reduced corporate tax rates were perceived as key enablers of growth and sustainability. While
most respondents expressed confidence in the current tax policy landscape, a notable portion
reported confusion or dissatisfaction, emphasizing the need for better public communication
and outreach.
The study concludes with several recommendations: expanding access to financial education,
enhancing the usability of government tax platforms, and promoting greater transparency and
responsiveness in policy formulation. Together, these measures can help build a more informed
and proactive taxpayer population, thereby contributing to more effective policy
implementation and alignment with national economic priorities.
Keywords:
Taxation, Behaviour, Individuals, Business and financial planning
Cite Article:
"How different taxation policies influence financial planning strategies among individuals and business ", International Journal for Research Trends and Innovation (www.ijrti.org), ISSN:2455-2631, Vol.10, Issue 6, page no.a54-a65, June-2025, Available :http://www.ijrti.org/papers/IJRTI2506009.pdf
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ISSN:
2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator