A STUDY ON AWARENESS TOWARDS INCOME TAX FILING PROCEDURES OF BUSINESS PROFESSIONALS IN INDIA

Income tax filing awareness is an important factor in promoting voluntary tax compliance among business professionals in India. The study demonstrates that understanding tax laws, filing requirements, deductions, exemptions, deadlines, documentation, and digital filing systems can help taxpayers fulfil their statutory responsibilities more effectively. The available quantitative data show generally positive awareness of tax planning and tax-saving provisions, while PPF and EPF emerge as the most preferred tax-saving investment options in the supplied tables. At the same time, business professionals may face challenges arising from changing tax provisions, digital procedures, technical difficulties, documentation requirements, and insufficient understanding of particular deductions. Financial literacy, professional advice, accurate accounting records, and digital taxpayer services can therefore play an important role in improving compliance. Continuous taxpayer education, simplified filing procedures, effective online support, and awareness programmes can further strengthen taxpayer confidence. Overall, better awareness combined with accessible digital services and professional guidance can contribute to accurate, timely, and voluntary income-tax compliance among business professionals in India.  

Allingham, M. G., & Sandmo, A. (1972). Income tax evasion: A theoretical analysis. Journal of Public Economics, 1(3–4), 323–338Jackson, B. R., & Milliron, V. C. (1986). Tax compliance research: Findings, problems, and prospects. Journal of Accounting Literature, 5, 125–165.James, S., & Alley, C. (2002). Tax compliance, self-assessment and tax administration. Journal of Finance and Management in Public Services, 2(2), 27–42.Kirchler, E. (2007). The economic psychology of tax behaviour. Cambridge University Press. The work examines tax compliance, tax behaviour, trust, authority, and taxpayer decision-making.Kirchler, E., Hoelzl, E., & Wahl, I. (2008). Enforced versus voluntary tax compliance: The “slippery slope” framework. Journal of Economic Psychology, 29(2), 210–225.Gupta, A., & Sharma, [initial not provided]. (2015). [Study on Indian business professionals' awareness of income tax filing].Reddy, [initial not provided], & Kumar, [initial not provided]. (2018). [Study on the impact of digital income tax filing on taxpayer behaviour in India].Patel, [initial not provided], & Shah, [initial not provided]. (2020). [Study on self-employed professionals' awareness of electronic income tax filing].Singh, [initial not provided], & Verma, [initial not provided]. (2022). [Study on small business owners' understanding of income tax].