Wednesday, 9 March 2016

A Comment on FM's withdrawal of the proposal to tax EPF

My Comment on an article "Budget 2016: FM Arun Jaitley rolls back proposal to tax EPF" published in the Dated 08/03/2016 at 10 pm.

"Good action taken by the FM by conceding to the demands of the people in withdrawing the tax proposal. 

Now, members of EPF can withdraw their funds entirely without having to pay any tax. 

NPS contributors have got a rebate of no tax upto 40% withdrawals from their pension funds, which will be a benefit to them from April 2016. 

Further, the FM has withdrawn the proposal to impose tax on Employer Contribution exceeding 1.50 lac per annum which is also a relief to EPF subscribers.

Even if FM comes back later after more better review of the implications, with a proposal to tax the present period interest withdrawals, we may not feel sad."

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