A COMPARATIVE ANALYSIS OF DEDUCTIONS CLAIMED UNDER

THE INCOME TAX ACT, 1961 FROM THEIR SALARY INCOME BY

QUESTIONNAIRE
1. Age: Below 30 years: _____ Between 30 to 45 years _____ Above 45 years_____
2. Gender: Male _____ Female _____
3. Place of Residence: _____________________________________________________
4. Service in completed years: Below 10 years _____ Between 10 to 20 years_____
Between 20 to 30 years _____ Above 30 years_____
5. Status of the Employer: Private _____ State Government_____ Central Government_____
6. Designation: _____________________________________________________________
7. Annual Income for last year (2018-19)
Below Rs. 3,00,000/- _____ Between Rs. 3,00,000 to Rs. 5,00,000/-_____
Between Rs. 5,00,000/- to Rs. 8,00,000 _____ Above Rs. 8,00,000/- _____
8. How much of your income is saved in a year?
Upto 10%_____ 10-20% _____ 20-30% _____ 30-40% _____ Above 40%_____
9. Since how many years are you filing returns?
0-5 years_____ 6-10 years_____ 11-15 years_____16-20 years_____Above 21 years_____
10. When do you formulate your tax plan during the financial year?
Beginning of the year _____ End of the year _____ At any time_____No Planning_____
11. What is the source of information about deductions available while filing for taxation?
Through tax consultant _____ Through friends and relatives _____ Through media_____
12. Do you take help/ services of the Professional Financial Adviser for making investment
decisions?
Always _____ Often _____ Occasionally _____ Rarely _____ Never _____
13. Do you seek the services of a Tax Consultant for filing Returns?

Always _____ Often _____ Occasionally _____ Rarely _____ Never _____

14. Which of the following services does your tax consultant provide you?
Income Tax Value Added Tax_____ Service Tax_____ Central Excise_____
Custom Duty_____ Internal Audit _____ Financial Audit _____ Consultancy
Services _____ Other service (Pl. Specify) _______________________
15. Whether your tax consultant reminds you regarding tax obligations?
Yes_____ No_____
16. How much are you aware regarding the various deductions under the Income Tax? (Please tick
the appropriate box, only one in each question)

Fully Partly
Aware Aware Unaware
Professional Tax
Interest on Housing Loan

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Capital Gain from transfer of Property used for residence
Deductions under section 80 C
Insurance Premium
Contribution to Provident Fund
Investment in National Savings Certificate and Post Office
Savings Bank Deposits
Subscription to Mutual Fund
Repayment of Housing loan
Subscription to approved infrastructure bonds
Fixed deposits in scheduled banks
Contribution to Pension Fund
Deductions in respect to Medical Insurance
Donation to Charitable Fund under section 80/G

17. Which of the following Tax Planning Measures Adopted by you for the previous year (2018-
19)?

Yes No
Deductions Claimed under section 80C, 80CCC and 80CD
Amount invested in Provident Fund
Amount invested in Life Insurance policy
Amount invested in National savings certificate, post office savings
bank
Amount invested in approved mutual fund
Amount invested in Pension fund
Repayment of housing loan (principal amount)
Interest on loan taken for higher education
Interest on housing loan
Donations to Charitable fund
Any Others (Pl. Specify)

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 18. What is your opinion on the following?

Strong No Strong
ly Agre Optio Disagre Disagre
Agree e n e e
Do you think that Income Tax Rates in India are High?
Have you been negatively affected by withdrawal of
Standard Deducations?
Do you favour increase in Tax Exemption Limit?
Do you agree with the idea of rationalization of Tax
Rates?
Do you think that deductions for bank interest rates
should be reinforced?
Do you think that substitution of tax rebate under
section 88 by deduction under section 80 is beneficial to
you?
Do you think that Tax Planning Measures are to be
related with investments in specific assets?

19. What is your opinion on the following Taxation Procedure?

No Strong
Strongl Optio Disagre Disagre
y Agree Agree n e e
Taxation Procedure is Complex and Difficult to
Understand
Filing of Return is very complex
Need for improvement in Tax Payer Service to
reduce compliance cost
Building Proper Information System is necessary
Always deduct tx at source on all income
Do you prefer uniform tax rate to progressive tax
rte

20. How much are you aware of the proposed Direct Tax Code?
Fully aware _____ Partially Aware _____ Unaware _____
21. Do you support the introduction of the proposed Direct Tax Code?
Yes _____ No_____
22. Under which heads of income, your income becomes taxable?
Income from salary _____
Income from house property _____
Profits and gains of business profession _____
Capital gain _____
Income from other sources _____