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These employees would like Income Tax ceiling for salaried class to be raised to Rs 7.5 lakh
The All India Bank Employees` Association( AIBEA) has called upon Finance Minister Arun Jaitley to hike the ceiling on Income Tax for salaried persons to Rs 7.5 lakh with exclusion of fringe benefits like housing, medical and educational facilities.
New Delhi: The All India Bank Employees' Association( AIBEA) has called upon Finance Minister Arun Jaitley to hike the ceiling on Income Tax for salaried persons to Rs 7.5 lakh with exclusion of fringe benefits like housing, medical and educational facilities.
AIBEA General Secretary C H.Venkatachalam has proposed that income tax rate above Rs 7.5 lakh and upto Rs 12 lakh should be charged at 10 percent, and above Rs 12 lakh upto Rs 20 lakh should be charged at 20 percent and those earning above Rs 20 lakh and upto Rs 25 lakh should be charged at 25 percent.