STFI Demand to Income Tax Exemption

To
The Honourable Finance Minister,
Govt. of India,
New Delhi.

Sub : Demands related to Income Tax rates and exemptions.
***
STFI School Teachers’ Federation of India, is a National Federation of school teacher working across
the country. There are 26 Teacher organization working in various states and UTs of India, having more than
15 Lac of membership are affiliated to it. In respect of Income Tax rates and exemptions our organization
demands Govt. of India that:-
1. There should be no Income Tax charged upto the income of Rs. 5 Lac/annum
2. The rebate of Rs. 2000/- should be enhanced to Rs. 3000/- in income tax and that should be given upto
the taxable income of Rs. 10 Lac instead of present limit of Rs. 5 Lac.
3. Standard deduction should be restored to all Employees and Teachers and same should be minimum of
Rs. 50,000 annum.
4. Allowances as HRA, Medical Allowance, DA, LTC and medical reimbursement etc. Should not be
included in income for the purpose of Income Tax. Because they are allowances only for a particulartype
of expenditure.
5. Exemption in 80C should be raised upto the saving of Rs. 3 Lac.
6. Income tax should be charged as:
(i) Upto Rs. 5 Lac - Nill
(ii) Rs. 5,00,001 to 8,00,000 - 10%
(iii) Rs. 8,00,001 to 13,00,000 - 20%
(iv) Rs.13,00,001 & More - 30%
Hope GOI will consider our suggestions and demands with sympathy.
Thanks
                                                                                                        Sincerely Yours,
                                                                                                       STFI Members


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