Sunday, July 2, 2017

INCOME TAX RELIEF

A few days ago I read in the newspaper that there has been an appeal to government to reduce income tax i r o single working girls. It was suggested that lower rates may be made applicable to them.

This set me thinking that even pensioners also need this relief. On retirement income of a pensioner becomes 50% of what his salary was. Even dearness allowance which he was getting becomes less as it is calculated on basic pay / pension. Family commitments like marriages of daughters/sons, taking care of old parents, other such social obligations etc etc of a pensioner do not become less. Thus I feel that income tax on pension should be 50% of what it is on salary while in service, if not waved off completely.