BMS urges Centre to raise ceiling on Income-Tax

Staff Reporter

General body meeting adopts resolution to this effect

VISAKHAPATNAM: Bharatiya Mazdoor Sangh (BMS) has asked the Union Government to raise Income-Tax ceiling in the general budget for 2006-07.

A resolution to this effect was adopted at the general body meeting of BMS here on Sunday. BMS district president K. Bhavani Shankarudu presided and senior advocate A.V. Sambasiva Rao lighted the lamp to mark the inauguration.

The meeting wanted the I-T ceiling raised to Rs. 2 lakhs providing concessions on allowances being given to workmen. It wanted exemption from filing returns for all those, whose income was less than Rs. 2 lakhs. BMS also sought the trade unions exempted from I-T.

Hire-and-fire policy

The BMS took strong exception to attempts at implementing a hire-and-fire policy in the Indian industry by amending the labour laws.

Cut in PF rate opposed

On Employees Provident Fund rates, BMS opposed the reduction of interest rate from 9.5 to 8.5 and declared that the Government should not reduce the interest rate unilaterally.

The general body also resolved to mount pressure through various fora for merger of 50 per cent dearness allowance with basic pay, prompt payment of wages to anganvadi workers, removal of ceiling on payment of bonus and payment of nine per cent interest by banks for deposits made by senior citizens.

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