Ummid Assistant

Applications open for Manmohan scholarship at Cambridge

Opportunities for Indian students in US

Welcome Guest! You are here: Home Business & Economy

Salaried people want tax exemption limit raised to Rs.3 lakh: Survey

Wednesday February 13, 2013 07:57:56 PM, IANS

 

New Delhi: A majority of the salaried class want the exemption limit for income tax to be raised to Rs.3 lakh from the existing Rs.2 lakh, a survey by Assocham has revealed.

Salaried people also demand increase in deductions such as on medical and educational allowances in the Union Budget for 2012-13, which will be presented at the end of this month.

Nearly 90 percent of the respondents said the slab of tax-free income has not moved up in line with real inflation. The current basic exemption limit of Rs.200,000 should be increased to at least Rs.300,000 with the limit for women going up to Rs.350,000, the Associated Chambers of Commerce and Industry (Assocham) said in the survey report.

"Pushing the basic exemption limit helps the tax payers in saving taxes and will also align it with the proposals made by the Parliamentary Standing Committee on the Direct Taxes Code (DTC)", the survey said.

The survey was conducted in all major cities including Delhi-NCR, Mumbai, Kolkata, Chennai, Bangalore, Ahmedabad, Hyderabad, Pune and Chandigarh. About 2,500 employees from the different sectors participated in the survey.

With increasing healthcare costs, the existing tax-free limit of Rs.15,000 should be increased to Rs.50,000, the same also needs to be considered in the Budget, 89 percent of the respondents said.

The transportation allowance granted by the employer to the employee for commuting between the place of work and residence is tax-free to the extent of Rs.800 per month.

This limit was fixed more than a decade ago, and definitely needs to be revised upwards to at least Rs.3,000 per month, given the rising commuting costs across the country, majority of the respondents in the survey said.






 

 

 




 

Home | Top of the Page

Comments

Note: By posting your comments here you agree to the terms and conditions of www.ummid.com

Comments powered by DISQUS

i

More Headlines

Nursery admissions not under Right to Education purview, court told

Ex Maldives Pres Nasheed takes sanctuary at Indian High Commission

'Middle East has lost 144 cubic km of water'

India braces for BJP-Congress electoral battles

Valentine's Day market in India pegged at Rs.15 bn

India's universities crying for better leadership

Russian parliament passes anti-smoking bill

Global outrage against North Korea nuclear test

Afzal's family says no to Tihar visit, wants body back

SC fumes over sex tests, female foeticide

Italian chopper deal: India orders probe after CEO's arrest

 

Top Stories

Nasheed takes sanctuary at Indian High Commission

Former Maldives president Mohamed Nasheed, who once held a cabinet meeting under water to highlight global warming, took refuge at the Indian High Commission here   

No point in Nasheed being at the Indian mission: Minister

Nasheed disappointed with India, says Maldives ex-foreign minister

Resigned almost at gunpoint, says ousted Maldives President Nasheed

 

  Most Read

Italian chopper deal: India orders probe after CEO's arrest

India Tuesday ordered a probe into the $750 million deal for 12 VVIP AgustaWestland helicopters following the arrest of the chief of its parent company - Italy's Finmeccanica on corruption charges in the contract.  

Antony seeks report on pay-off in Italian chopper deal

Why Sir Syed loses and Allama Iqbal wins in Pakistan

For every 19th century Muslim intellectual, including Sir Syed and the Allama, the outstanding challenge of the time was to understand the ascendancy of western civilisation and the apparently   

 

  News Pick

Global outrage against North Korea nuclear test

Highly secretive North Korea revealed Tuesday it had conducted a third nuclear test, drawing condemnation from around the world and prompting South Korea to put its  

North Korea conducts third n-test

As Tripura goes to polls, spotlight on 'poorest CM'

He washes his clothes every morning, has just over Rs.10,000 in his name and owns neither house, mobile nor car. Tripura's Manik Sarkar is probably India's poorest chief minister and that rare politician whose honesty is 

Scientists brace for a close peek at asteroid

Indian scientists will join their counterparts globally for a rare celestial event scheduled for the night of Feb 15-16 -- the passing of an asteroid very close to Earth, around 28,000 km away, and visible with ordinary  

Britain census shows 37% rise in Muslim population

The exact figure of Muslim immigration living in Britain has been revealed in new census figures. According to the census, in the past seven years the number of Muslims living in the UK has risen  

 

Picture of the Day

Prime Minister Dr. Manmohan Singh presenting the award to the District Collector, Visakapatanam V. Seshadri for promoting social equity in MGNREGA implementation, at the 8th Mahatma Gandhi NREGA Divas Sammelan, in New Delhi on February 02, 2013.

 

Recommend the story to your friends

 

 
 
 
 
 
 
 
 

RSS  |  Contact us

 

| Quick links

News

 

Subscribe to

Ummid Assistant

 

National

Science & Technology

RSS

Scholarships

About us

International

Health

Twitter

Government Schemes

Feedback

Regional

History

Facebook

Education

Register

Politics

Opinion

Newsletter

Contact us

Business

The Funny Side

Education & Career

 

 

Ummid.com: Disclaimer | Terms of Use | Advertise with us | Link Exchange

Ummid.com is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.

2012 Awaz Multimedia & Publications. All rights reserved.