Women better tax planners than men

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, Bengaluru 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 Bengaluru at 4 per cent respectively.

"Females in Chennai are the best tax planners in the country. Even at an average income of Rs 400,000, 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 600,000 per annum, while those in Bengaluru 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 Bengaluru at seven per cent.

"The Gender based Tax Ratio Composition indicates that females (average income of Rs 500,000) are paying lower portion of their salary as tax than males (average income of Rs 600,000) due to lower tax slabs and better investments," TaxSpanner CEO Ankur Sharma said.

TaxSpanner currently has over 250,000 customers and targets to double it during this financial year.

The company recently launched 1500 tax spanning stations across the country, the statement added.