Tuesday, August 31, 2010

Now, level field for men and women

Now, level field for men and women

Tuesday, Aug 31, 2010

The Direct Taxes Code Bill proposes to end positive gender discrimination of the last 10 years in income taxation.

From April 1, 2012, women could cease to enjoy special income-tax exemptions over and above what men get, according to the new Bill. Only senior citizens will get extra relief — those with annual income of up to Rs 2.5 lakh need not pay tax.

Early reactions from women are mixed.

While Ms Shweta Dixit, an advertising professional in the affected tax bracket, is miffed, corporate lawyer Ms Kumkum Sen says, “I don't think there should be any special exemption for women. Instead, what we need is more motivation.”

She explains motivation as areas such as itemised deductions, attractive to women professionals, or special exemptions on property registration, which motivates more women to buy property.

Delhi-based chartered accountant Satyendra Jain thinks the difference will only be an increased tax of Rs 3,500 annually to those in the affected tax bracket.

Meanwhile, according to a book, Taxation and Gender Equity, only about 0.00001 per cent of all women in India and 0.27 per cent of working-age women are tax-payers.


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