From Wallet to Refund: Your Tax Journey Unveiled

Abstract:

This research looks into how people deal with taxes, exploring what they think and feel when they pay taxes and get money back from the government. This research was done through a survey where people can share their thoughts on how they understand taxes, what it's like for them to file taxes, and what they expect when they get their money back. The goal is to understand how the public goes through the whole tax process, looking at what people give in taxes and what they get back in return.

Introduction:

Why it's crucial to learn how people handle taxes. It tells what this research aims to discover. Through this research, people want to know how they feel about taxes and what they expect in return. Understanding what people know about taxes is important because it helps to see if things are going well or if they can be improved. So,? trying to find out what people understand about taxes and what they want in return.

Methodology:

The research is done using a Google Form survey, which is easy for people to use. The survey has a mix of simple and interesting questions to get both numbers and opinions. Done through using Google Forms so that people can share it widely and get responses from many different people. The survey asks about things like general tax knowledge, personal experiences, and what people think about government initiatives. This Research helps to follow ethical rules, like keeping people's information private and getting their permission to use it. The research uses tools in Google Forms to look at the data and find patterns. The final result will be a detailed report using the data from Google Forms to show what people think about taxes in an easy-to-understand way.

Research Questions:

1. How would you rate your overall understanding of taxes?
2. Name some of the Taxes you know and paid previously. (Direct/indirect/any)
3. Do you feel confident in your knowledge of the tax system??
4. What is the lowest tax you believe you have paid to the government in a year? (Direct + Indirect)
5. How satisfied are you with the tax returns you have received in the past?
6. How could the government do a better job by telling you about the TAX and Tax Returns?
7. Do you think Taxes are fair for everyone?
8. Have you personally taken any advantage of any government schemes or initiatives that are worth the TAX you paid??
9. Do you believe that government schemes effectively address the needs of the people in the bottom line?
10. Have you ever sought information or assistance from government offices regarding available schemes?

Literature Review: The research checked what other researchers found out about how people feel about taxes, what it's like to do their taxes, and what they hope to get back. This helps us see the bigger picture for the study. The research learned from important ideas and discoveries in past research to guide how This research looks into things now. By using what others found out before us, This research shows the patterns and details about how people view taxes and what they expect in return. This isn't just about the study; it's like joining a conversation that many researchers have been a part of. The research takes all these shared insights to explore and understand better how people feel and what they want when it comes to taxes. Key theories and findings from previous research contribute to framing the current investigation as successful.

Results: In this part of the study, The findings from the survey are being communicated.. The research went into what the participants shared about how they understand taxes, what it's like to do their taxes, and what they hope to get back. Doing this helps us understand how regular folks handle taxes. It's not just about numbers; it's also about the stories and thoughts people share with us. This helps us see all the different sides of how people deal with taxes. The research looks at both the facts and the personal stories to get a better understanding. So, you'll see charts and graphs with numbers, but you'll also read stories that make those numbers real. It's like making a complete picture that's more than just numbers. This part is where this Research explain all the things people told us in the survey, making sure this research catches all the different experiences and expectations about taxes.

Insights from Participant Responses :?

Analyzing the responses from the Google Form and the interviews done form the colleagues, provides valuable firsthand insights into participants' perspectives on taxes. The data reveals diverse opinions on tax understanding, filing experiences, and satisfaction with returns. Participant comments underscore the real-world impact of tax policies, offering personal narratives that complement the study's findings. This direct engagement with individuals reinforces the importance of ongoing research and highlights the need for transparent communication from the government. Integrating participant responses directly into future studies is recommended to enhance the depth of understanding regarding public sentiments and experiences with taxes.?

“People often have a limited understanding of the various taxes they pay, with commonly known ones like GST, SGST, and VAT overshadowing a more intricate tax landscape. Beyond these, several other taxes play crucial roles in government revenue and economic regulation”

MERITS:

Different kinds of taxes, like GST, Income Tax, and others, have good things about them. One big advantage is that they help the government get money from various places, not just one. This makes the government's money system stronger. Also, having different taxes lets the government control certain parts of the economy, like specific industries or activities, making things more balanced. Another good thing is that it makes sure everyone pays taxes fairly based on how much money they have. This makes sure that rich and not-so-rich people all contribute fairly. In the end, having different types of taxes is not just about getting money; it helps keep the economy balanced and fair for everyone.

Demerits:

A diverse tax system with various taxes like GST, Income Tax, and others has its benefits, like generating revenue from different sources and promoting economic balance and fairness. However, it also has drawbacks. The system can be confusing and complicated for people, leading to higher compliance costs and making it easier for some to evade taxes. The government also faces challenges in managing and administering multiple taxes, which can strain resources and increase administrative expenses. Overall, while diverse taxes have advantages, simplifying the system could help address the associated complexities and drawbacks.

Two preventive theories can be derived from the discussion on taxes and their awareness

THEORY 1:?

??? to address the complexity and confusion surrounding various taxes like GST, Income Tax, and others, governments should focus on simplifying explanations. This involves using clear language and providing easy-to-understand information about different taxes. By making tax-related information accessible and straightforward, individuals and businesses can better comprehend their tax obligations, reducing confusion and promoting compliance.

THEORY 2:

?to prevent the demerits associated with compliance challenges and potential tax evasion, governments should invest in educational initiatives. These initiatives can include workshops, online resources, and outreach programs aimed at enhancing public understanding of the tax system. By increasing awareness and knowledge about taxes, individuals and businesses are more likely to fulfill their tax responsibilities accurately and on time. Education empowers taxpayers to navigate the tax landscape with confidence, mitigating the risks associated with non-compliance and evasion.

Conclusion:?In wrapping up the study, the conclusion focuses on the main things through The research learned and why they matter for people like you and me, as well as those who create the rules, like policymakers. The research wants to make sure the findings are useful for everyone involved. When it comes to policymakers, The research points out what they could take from the study to make better decisions. The conclusion discusses those points if This research finds things that need fixing or improving.? hope the research acts as a guide for those who create the rules and policies around taxes.

But The research not stopping there. The conclusion also suggests where more research could go. Maybe there are areas the research didn't look into deeply enough or new questions that popped up during the study. This part is like a roadmap for future researchers, saying, "Hey, we've learned a lot, but there's still more to uncover. Here are some ideas for the next steps in understanding how people deal with taxes."

Addressing policymakers, Aspects that can be used to make informed decisions are highlighted, addressing areas that may need fixing. The research serves as a guide for those shaping rules and policies around taxes. However, The research doesn't stop there. The conclusion suggests avenues for further research, exploring areas that may not have been fully examined or emerging questions. This section acts as a roadmap for future researchers, indicating potential next steps in understanding how people navigate taxes.