KARACHI, June 6: The Small and Medium Enterprises Association of Pakistan wants the tax exemption limit on personal income be raised to Rs10,000 a month or Rs120,000 a year.

In its pre-budget recommendations, the association has proposed to put off the enactment on July 15 next the tax rules for maintaining books of accounts and documents for different categories of annual income ranging from Rs150,000 to Rs300,000 and above. “It will be helpful in promotion of small and medium enterprises,” the association contends.

The association has also demanded the restoration of rates of profits of National Saving Scheme to the 1999 level to help widows, orphans and pensioners.

It has also sought amendments in various provisions of the new income tax act to facilitate the taxpayers.