A Study on Tax Awareness, Compliance and Satisfaction Level with the Current Tax Structure among the Tax Payers

Taxation in India is well structured. No taxes can be collected except by the authority of law. Hence, each and every tax collected is backed by an accompanying law. Tax rates may vary by type and characteristics of the taxpayer and the type of income. To avail the benefits like exemptions, deductions, concessions and rebates under the act, one has to have good knowledge and awareness in both the Income Tax act and the annual finance budget of union ministry. This study, based on the primary data collected from the individuals assesses about the level of awareness on the provisions of the Income tax laws and the amendments that are being made.