BJP MP Tejasvi Surya on Tuesday requested Finance Minister Nirmala Sitharaman to categorise extra ‘metro cities’ within the Revenue Tax guidelines in order that extra salaried staff can declare greater home hire allowance (HRA).
He asserted that this transfer would tremendously profit crores of middle-class taxpayers throughout the nation.
Talking throughout Zero Hour, Surya stated beneath the present Revenue Tax guidelines, salaried staff in solely 4 cities — New Delhi, Chennai, Kolkata and Mumbai — can declare as much as 50 per cent HRA.
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“I rise to boost a vital problem in regards to the salaried center class of this nation. Speaker sir, I come from Bengaluru, which has one of many highest salaried inhabitants in a metropolis within the nation.
“However sir, beneath the Revenue Tax guidelines solely 4 cities — New Delhi, Chennai, Kolkata and Mumbai — are thought of as metro cities for the aim of Home Lease Allowance (HRA) deduction as much as 50 per cent for salaried staff,” Surya stated.
He stated a lot of salaried staff staying in Bengaluru, Hyderabad and different such cities however may declare solely as much as 40 per cent deduction.
As per the Revenue Tax guidelines, salaried staff in a ‘metro metropolis’ can declare as much as 50 per cent of their wage for HRA deduction and as much as 40 per cent in non-metro cities.
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“My request to the Finance Minister is to kindly assessment the Revenue Tax guidelines and add extra cities like Bengaluru and different equally positioned cities in order that they (salaries staff) may also declare as much as 50 per cent deduction,” he stated.
Surya additional stated with newer cities rising and a big salaried class dwelling in Bengaluru and comparable different cities the place the price of housing is excessive, it’s needed for different cities to even be thought of as metros.
“This can tremendously profit crores of middle-class taxpayers throughout the nation,” he stated.