AIRF has requested to increase basic tax exemption limit from 2 lakh to 4 lakh, and 4.5 lakh in case of women
Resp. Shri P. Chidambaram Ji,
Sub: Request to increase basic tax exemption limit from 2 lakh to 4 lakh, and 4.5 lakh
in case of women
Indian Railways is the biggest employer in India and a vast majority of Railway employees want the Finance Minister to raise salary exemption limit of Income Tax to 4 lakh and 4.5 lakhs to women in the coming Union Budget so that they are left with more purchasing power.
Transportation Allowance granted to the employees to commute between the place of work and residence is tax-free to the extent of 800 per month. This limit was fixed more than a decade ago and needs to be revised upwards, given rising commuting costs across the country. In this context, it is pertinent to mention that the matter is pending with the CBDT for a long time. Therefore, this also needs to be revised immediately.
More so, the slab of tax-free income has not moved up in line with real inflationary rates in the last few years.
Therefore, it is strongly urged to examine the above issues and favourable instructions may please be issued early so that the same could be incorporated in the Union Budget to be presented shortly in the Parliament.
With kind regards!
(Shiva Gopal Mishra)
Shri P. Chidambaram,
Hon’ble Finance Minister,
(Government of India),
Ministry of Finance,
Copy to: General Secretaries, all affiliated unions – for information.