NMC urges FM to raise IT exemption limit to Rs 5 lakh, exclude DA from IT calculation, Merge DA in Basic Pay & Pension etc.
JAMMU: The National Mazdoor Conference today asked Union Finance Minister Arun Jaitley to raise the income tax exemption limit to Rs 5 lakh.
“We urged Union Finance Minister to raise the Income Tax exemption limit to Rs five lakh,” National Mazdoor Conference (NMC) President Subash Shastri said while addressing a series of rallies at Kanjali and Bomyal in Nagrota Block here today.
Shastri also appealed he Finance Minister to announce non inclusion of amount of DA to calculating income tax as the DA installments are released by the government from time to time to utilize the impact of price rise and inflation.
Shastri emphasized the need for immediate merger of 50 per cent DA into basic pay and pension as per the recommendations of the Fourth Pay Commission.
He added that all these burning issues impacting both the Central and State Governments Employees and pensioners should be addressed by the Union Finance Minister while presenting the budget for 2015-16 in the coming Budget Session of Parliament beginning on 23rd of this month.
Read more at: Economic Times