Trade unions on Thursday urged Finance Minister P Chidambaram to announce the constitution of the seventh pay commission and raise the income tax threshold to Rs 5 lakh in a year from Rs 2 lakh.
The demands were raised at a pre-budget meeting. They also wanted income tax exemption ceiling for the salaried class to be raised to Rs 5 lakh a year and fringe benefits such as housing, medical and educational facilities should be exempted from the income tax net in totality.
|Chennai||Rs. 24500.00 (-0.33%)|
|Mumbai||Rs. 25480.00 (-0.08%)|
|Delhi||Rs. 25200.00 (0%)|
|Kolkata||Rs. 25000.00 (0%)|
|Kerala||Rs. 24400.00 (-0.41%)|
|Bangalore||Rs. 24450.00 (0%)|
|Hyderabad||Rs. 24580.00 (0%)|