Savings and Investment Behaviour of Academicians After the Withdrawal of Income Tax Deductions

Authors

  •   Khujan Singh Professor, Haryana School of Business, Guru Jambheshwar University of Science and Technology, Hisar - 125 001, Haryana
  •   Aarti Devi Research Scholar, Haryana School of Business, Guru Jambheshwar University of Science and Technology, Hisar - 125 001, Haryana
  •   Jyoti Research Scholar, Haryana School of Business, Guru Jambheshwar University of Science and Technology, Hisar - 125 001,Haryana

DOI:

https://doi.org/10.17010/ijf/2022/v16i1/167782

Keywords:

Personal Savings

, Individual Investors, Tax Benefit, Tax Deduction, Income Tax.

JEL Classification Codes

, D14, H2, H24.

Paper Submission Date

, April 15, 2021, Paper Sent Back for Revision, November 24, Paper Acceptance Date, December 10, Paper Published Online, January 15, 2022.

Abstract

This paper attempted to assess the tax-saving investment behavior of the academicians of Hisar district of Haryana after the withdrawal of tax deductions by using primary data. The primary data were collected from 337 respondents through a self-structured questionnaire and analyzed with Cronbach’s alpha, analysis of variance, Welch test, and multiple mean comparisons test (post-hoc test). The study found an insignificant difference in savings and investment behavior of academicians with regard to their savings in banks/post office/and cooperative banks, five-year bank/post office fixed deposits, public provident fund, health insurance, life insurance, term life insurance, unit-linked insurance plan, national saving certificate, employees provident fund/general provident fund, mutual funds, real estate, gold exchange trade fund, stock market, recurring deposits, and systematic investment plan even after the withdrawal of tax deductions across the different income levels. The current study will be helpful for government authorities and policymakers to understand the investment behavior of individuals after the withdrawal of tax deductions.

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Author Biographies

Khujan Singh, Professor, Haryana School of Business, Guru Jambheshwar University of Science and Technology, Hisar - 125 001, Haryana

ORCID iD : https://orcid.org/0000-0003-4178-3905

Jyoti, Research Scholar, Haryana School of Business, Guru Jambheshwar University of Science and Technology, Hisar - 125 001,Haryana

ORCID iD : https://orcid.org/0000-0003-3512-8306

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Published

2022-01-20

How to Cite

Singh, K., Devi, A., & Jyoti. (2022). Savings and Investment Behaviour of Academicians After the Withdrawal of Income Tax Deductions. Indian Journal of Finance, 16(1), 50–64. https://doi.org/10.17010/ijf/2022/v16i1/167782

Issue

Volume 16, Issue 1, January 2022

Section

Articles
Crossref
Scopus
Google Scholar
Europe PMC

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