As per the findings of the 'India Tax Ratio 2012', only 56% of salaried employees in India own a house despite earning more than Rs. 10 lac as annual income. Tax Ratio is the percentage of gross salary paid as tax by employees. At 40% Bangalore has the highest number of house owners followed by Hyderabad at 17%. Amongst those having an income below Rs. 5 Lac, only 6.8% own a house. Also, only 20% house owners are below 30 years of age.

Ankur Sharma, CEO, TaxSpanner says the figures clearly indicate that there are only a few people who recognize owning a house as a smart investment and tax planning option in the beginning of their career. The deductions available to individuals as a homeowner can reduce their tax bill substantially. We at TaxSpanner are committed to educating people about intelligent tax planning so as to improve their overall financial well-being.

The study covered employees from over 500 corporates in major cities, including the Delhi NCR, Mumbai, Chennai, Bangalore and Hyderabad. The corporates include names like SBI, HCL, American Express, Citibank and Google. A questionnaire was administered to the employees in these companies.

The report shows that the largest percentage of house owners is in the age bracket of 31-35 years at 42%.The percentage of house owners in the age group 21-30 years is 20% with the percentage of house owners in the age group 21-25 years contributing only 1%. Interestingly, about 60% of home owners having income more than Rs. 10 Lac are also claiming HRA exemption and hence taking benefit of both home loan deduction as well as HRA exemption.

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