Online stock Trading Applications, Tax Compliance, and Investor Satisfaction: An Integrated Study of Retail Brokerage Experience in the Digital Era

Abstract

The rapid growth of digital financial technologies has transformed the Indian securities market by enabling retail investors to trade through online brokerage applications. Alongside ease of trading, investors are increasingly expected to comply with tax regulations relating to capital gains, Securities Transaction Tax (STT), Tax Deducted at Source (TDS), and annual income tax filing. The integration of trading platforms with tax reporting features has become an important determinant of investor satisfaction. This study examines the relationship between online trading applications, tax compliance facilities, and investor satisfaction among retail investors. Primary data were collected from 151 retail investors using a structured questionnaire. Descriptive statistics, reliability analysis, correlation, and multiple regression were employed for data analysis. The findings reveal that application usability, tax compliance support, and service quality significantly influence investor satisfaction. The study recommends that brokerage firms enhance tax reporting tools and investor education to improve customer experience and regulatory compliance.