BENGALURU, India, January 13, 2022 / PRNewswire / – To understand the breadth of knowledge about income tax-related savings and investment options, Aroscop conducted aIndia study and published a report titled “State Of Income Tax Saving Investments In India 2021-22 “based on responses from over 1,000 people.
Here is some key information from the report –
Awareness is low. 83% of respondents are wrong or completely unaware or unsure of all income tax exemption regimes. Young Indians have a better understanding of income tax structures, and Millennials are the most knowledgeable about current computer regimes and various forms of tax exemption.
Young taxpayers (Gen Z) make insurance-related investments themselves. Regional differences are apparent. The states of western and northern India appear to be the best prepared to meet their IT investment targets. Among Indians who seek advice in deciding their investments, the largest portion (43%) of respondents are looking for an insurance agent for their insurance-related tax saving investments. The use of digital channels is growing. 37% of city dwellers say they make their insurance-related investments through online portals.
In a surprising finding, rural Indians seem to be more aware of the prevailing computer regimes and the investment options available.
The report highlights significant differences in perceptions of various tax-saving financial instruments, understanding of IT regimes, affinity for different investment options, and readiness to meet their reimbursement quota. tax among various audience cohorts.
These cohorts are created according to various age groups, regions (East, West, North, South) and type of area of residence (rural or urban).
The detailed report, containing other such information, can be downloaded here.
The results of the study highlight that individuals of different age groups and social backgrounds have different choices and attitudes towards investing to save on income tax. Thus, the report can guide organizations providing financial instruments to help reduce taxes, learn about these segments, and design communication strategies that resonate with their target audiences.
The study was conducted online in multiple languages, and respondents were asked about different age groups, locations, sex, income brackets and residential configurations (rural and urban). The objective of the research was to understand the extent to which Indians are aware of the tax rules that apply to them and of the different options available to save taxes and invest for the longer term. The studies leveraged Aroscop Ask1’s digital consumer analysis tools, data science, and the Audience Cohort Planner. Ask1 is specifically designed to identify micro-cohorts of users with certain behaviors and ask them questions using ultra-specific interactive creations. Data Science and Cohort Planner tie responses to individual users to generate a detailed persona.
Leading brands across various industries and geographies are using the suite of consumer analytics solutions to find answers to questions that would otherwise have been difficult to collect due to the nature of the questions or the elusive audience cohorts being difficult to find. approach. For more information on Aroscop and Ask1, contact the team.
Aroscop combines advanced programmatic ad serving, consumer insights, data and machine learning to help brands make smart marketing decisions along the consumer buying journey.
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Aroscop Tech Inc