Women tax payees are better "tax planners" than men across the country, a study conducted by online-income tax filing-portal TaxSpanner has said.
Chennai: Women tax payees are better "tax planners" than men across the country, a study conducted by online-income tax filing-portal TaxSpanner has said.
The study, conducted across 500 corporates and banks in Delhi NCR, Mumbai, Chennai, Bangalore and Hyderabad, revealed that women in Chennai were the best tax planners with the average tax ratio (percentage of gross salary paid as tax)-at two per cent, closely followed by women in NCR at 3 per cent and Bangalore at 4 per cent respectively.
"Females in Chennai are the best tax planners in the country. Even at an average income of Rs four lakh, their average tax ratio is only two per cent much lesser than males, in other cities," the study said.
"Overall, females are better tax planners than males across the country," it said.
Men tax payers living in Delhi NCR have the best tax ratio of five per cent at an average income of Rs 6 lakh per annum, while those in Bangalore have the worst tax ratio of 8 per cent, the study said.
While women tax payers have a lower income tax slab and get exemption, they are also found to be better tax planners in claiming House Rent Allowance exemption and taking deduction under health expenses, it said.
Among the metros, Chennai and Delhi NCR had the lowest average tax ratio of five per cent, followed by Mumbai and Hyderabad six per cent and Bangalore at seven per cent.
"The Gender based Tax Ratio Composition indicates that females (average income of Rs five lakh) are paying lower portion of their salary as tax than males (average income of Rs six lakh) due to lower tax slabs and better investments," TaxSpanner CEO Ankur Sharma said.
TaxSpanner currently has over 2.5 lakh customers and targets to double it during this financial year. The company recently launched 1500 tax spanning stations across the country, the statement added.