Budget 2013: NMC seeks enhancement of I-T exemption limit to Rs 5 lakh

JAMMU: National Mazdoor Conference (NMC) on Sunday sought 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 budget.

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.

He also demanded early sanction of 20 per cent interim relief and merging of 50 per cent DA in to their basic pay and pension to offset the economic hardships of salaried class in view of steep hike in the prices of all essential commodities.

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.