A Comment on deductions towards HRA and levying of tax on old age benefit withdrawals

My Comment on an article "Budget 2016: How FM Arun Jaitley has affected common man's spending & savings plan" published in economictimes.com Dated 01/03/2016 at 6 pm.


"The raising of the deduction limit allowed under section 80GG towards house rent paid 
from Rs.24,000 to Rs.60,000 is a very good move taken by FM. This implies that a person can enjoy a rented accommodation of Rs.5,000 per month which is a bit reasonable from the vision of common man. 

But, the deduction of tax introduced on PPF and EPF withdrawals against contributions made after 2016, is an injustice as the EPF is the only source of funds during one's old age life. Allowing only 40% drawal and taxing the rest amount is a kind of blow to the common man which will leave him insecure as he can't meet his expenses. FM should reconsider this."

A Comment on Economic Survey's proposal to tax PPF interest withdrawals

My Comment on an article titled "Tax PPF returns at the time of withdrawal, says Economic Survey" published in the economictimes.com Dated 27/02/2016 at 10:50 pm. 


"Taxing interest earned is an injustice. 

Most people may not be having any other sources of income except these small savings schemes like PPF,Fixed Deposits,Time deposits and NSCs. 

Common man and retired people meet their regular monthly expenses from these incomes only. So, they should not be deprived of their bread by reducing their earnings. 

Government should realise this fact and should not heed to Economic Survey proposals."