global-journal-of-management-and-business-research-d-accounting-auditing Global Journal of Management and Business Research - D: Accounting & Auditing 0975-5853 2249-4588 Global Journals Publishing Group Incorporated 57015 Individual Income Tax Planning Practices in Bangladesh: An Empirical Study Tax Planning Index for Assessees in Bangladesh SarkarDr. Shakhawat Hossain BhowmikSabuj Chandra MiahDr. Mohammed Hider Ali BANGLADESH, 1 & 2. Jatiya Kabi Kazi Nazrul Islam University and 3. Export Import Bank of Bangladesh Ltd. 13 08 2019 19 D3 69 76

The study strives to explore individual income tax planning practices in Bangladesh using fieldlevel data from 194 assessees. The dichotomous procedure was used to score the items. Analytical results indicate that income tax planning scenario in Bangladesh was in a nascent state as compared to India. In Bangladesh, government and nongovernment employees invested more on investment than on philanthropic items and, they invested more in provident fund, benevolent fund, and group insurance, which were a mandatory for them. Deposit pension scheme (DPS), life insurance, and saving certificate were sequentially top ranking voluntary investment in Bangladesh, whereas life insurance was the highest investment in India. Income tax planning index (ITPI) was towering for tax knowledge seekers, self-return prepares, male and elderly respondents. A positive relationship was observed between tax awareness and individual tax planning that suggests more tax rules conscious individual assessee could enjoy maximum tax rebate in Bangladesh.

 income tax planning income tax planning index individual assessee bangladesh. Full Text

The study strives to explore individual income tax planning practices in Bangladesh using field-level data from 194 assessees. The dichotomous procedure was used to score the items. Analytical results indicate that income tax planning scenario in Bangladesh was in a nascent state as compared to India. In Bangladesh, government and nongovernment employees invested more on investment than on philanthropic items and, they invested more in provident fund, benevolent fund, and group insurance, which were a mandatory for them. Deposit pension scheme (DPS), life insurance, and saving certificate were sequentially top ranking voluntary investment in Bangladesh, whereas life insurance was the highest investment in India. Income tax planning index (ITPI) was towering for tax knowledge seekers, self-return prepares, male and elderly respondents. A positive relationship was observed between tax awareness and individual tax planning that suggests more tax rules conscious individual assessee could enjoy maximum tax rebate in Bangladesh.