Maharashtra Federation Pushes for Tax Relief and Higher Exemptions in Budget 2025

The tax structure for salaried individuals has remained unchanged for several years. This time, the Maharashtra Gazetted Officers Federation is requesting that salaries up to Rs 10 lakh be tax-free in the upcoming budget.

In their letter, the federation proposes a revised tax structure: no tax on salaries up to Rs 10 lakh, 5% on incomes from Rs 10 lakh to 15 lakhs, 10% from Rs 15 lakh to 20 lakh, 20% from Rs 20 lakh to 25 lakh, and 30% on earnings above Rs 25 lakh. They also seek an additional concession of Rs 2 lakh for senior citizens.

Furthermore, the federation is asking for an increase in the home loan interest limit to Rs 3.5 lakh and a raise in the medical insurance premium exemption to Rs 75,000. They believe these concessions will alleviate financial pressure on the salaried class.