NEW DELHI, July 15:
Most of the income tax filers in the country who delay their tax filing are below 30 years of age, says a study.
It also noted that late filing was not a function of complexities related with the tax filing process as 96 per cent of late filers had no other income except salary.
As per the findings of the ‘India Tax Ratio 2012’ report by TaxSpanner, an online income tax return filing portal, “56 per cent of India’s late income tax filers are below 30 years of age and only 17 per cent of people above the age of 36 years file their returns late.”
It further said that while 50 per cent of Indians file their taxes in the last month of July, around 46 per cent of salaried employees file their taxes in the last week of July.
“Bangalore leads in terms of late filers at 39 per cent, followed by NCR at 24 per cent. On the other hand, people from Hyderabad and Chennai contribute about 9 per cent each to the late filers,” TaxSpanner.Com said.
“The report reveals that while 45 per cent of the return filers in Bangalore file their returns after third week of July, only 39 per cent of the return filers in NCR region file their returns post 3rd week of July,” it added.
The gender basis tax ratio suggests that female employees earning an average annual income of Rs 5 lakh per year are paying lower taxes than their male counterparts earning an income of Rs 6 lakh a year due to lower tax slabs and better investments.Tax ratio is the percentage of gross salary paid as tax.
“Females in Chennai are best tax planners. Even at an average income of Rs 4 lakh, their average tax ratio is only 2 per cent, much lesser than their counterparts as well as males in other cities,” the study said.
Amongst males, those in NCR have the best tax ratio of 5 per cent, even at an average income of Rs 6 lakh. Those in Bangalore have the worst tax ratio of 8 per cent at an average income of Rs 7 lakh.
The study covered employees from over 500 corporates in major cities, including the Delhi, NCR, Mumbai, Chennai, Bangalore and Hyderabad. (PTI)
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