As Reported by The Economic Times of India – National Mazdoor Conference (NMC) on Sunday sought after raising the Income Tax exemption limit from Rs 2 lakh to Rs 5 lakh for salaried class and urged Finance Minister P Chidambaram to announce this in the 2013-14 Union budgets.
NMC President Subash Shastri said that with price rise and inflation, every salaried class is facing a lot of economic hardships and raising the I-T limit to Rs 5 lakh would be a genuine measure to provide some relief to them.
Further, as noted price escalation is directly linked with the DA of the salaried class and pensioners but it was strange that the income tax is also imposed on the increase of the salaries because of the DA said by NMC President Subash ShastriÂ .
There is no justification of imposing income tax on DA,” Shastri said while addressing a rally of NMC workers.
Shastri said the Centre should provide special package to all states for meeting the expenditure on account of interim relief so that there is no financial burden on them. National Mazdoor Conference (NMC) is seeking exemption ofÂ Dearness AllowanceÂ from the domain of income tax as DA is directly associated with the price index.