Government should hike tax-exempted savings limit to Rs 2.5 lakh from Rs 1.5 lakh at present, and re-introduce standard deductions for salaried employees to boost consumption, industry body Assocham has said."As Finance Minister Arun Jaitley begins engagements with stakeholders for the ensuing Budget for 2016-17, Assocham has recommended to the

New Delhi: Government targets adding one crore new income tax payers in the current financial year, Minister of State for Finance Jayant Sinha said today.“The government has set a target of adding one crore new Income tax payers during the financial year 2015-16. The said target has been further distributed among various field units of the

Taxmen across the country will be observing a "black day" on Friday to protest against some of the "retrograde recommendations" of the seventh pay commission, the Income Tax Employees Federation, Mumbai, said here.The federation also claimed that other Central government employees will also join them and will be wearing black badges and holding