This study primarily focused on the tax knowledge of the students who are in colleges and Universities pursuing Undergraduate and Postgraduate courses in Manipur. Students are the potential tax payers of the country after a few years and they are the strength of the future economic activity. Analysis of tax knowledge of students pursuing higher studies is crucial as having awareness about the tax matters will help them in tax planning in future which is beneficial for both the country and taxpayer himself/herself. Since tax planning is a part of financial planning, having awareness about taxation will help them in implementation of effective financial planning. The study findings revealed that tax knowledge among the students pursuing higher education in Manipur is low.