Sunday, February 28, 2016

Union Budget- 2016: Employees hope for more tax relief

State and Central government employees who got a considerable salary hike recently have pinned hopes on increasing the upper limit up to Rs 6 lakh from the existing Rs 3.5 lakh including Rs 1.5 lakh savings in the Union Budget-2016.

Most of the Central government employees got a good salary hike and they have crossed tax exemption limit. The 10th pay revision committee recommendations have boosted the salaries of the central government employees.  

Most of the employees are looking forward to Central government’s positive decision of increasing upper limit for income tax exemption.

A state government employee Singaram Udaykumar of Adilabad town said, even a regular attender is getting Rs 25,000 per month in the government departments and will be taxed for crossing Rs 2 lakh upper limit under income tax exemption.

He said the employees are waiting for the hike in income tax exemption for the last three years but disappointed and added that even some of the retired employees are also paying income tax for crossing the exemption limit.

Telangana government led by the TRS has increased salaries to the state to government employees as it promised during the agitation and most of the employees got a good hike in their salaries. Now they are looking for saving options to be within the income tax exemption limit.