News

Finance Minister Arun Jaitley on Tuesday announced he was withdrawing a controversial Budget proposal to tax 60% of EPF balances at the time of withdrawal. He also withdrew another proposal to tax  contribution made by an employer beyond Rs 1.5 lakh a year.  However, the proposal to not tax 40 per cent of money withdrawn from national pension system stays.  Earlier, he had said only 40% of the total accumulated EPF balance would be tax-free.  Read our full coverage on Union Budget 2016 Show full article Read more from our special coverage on "EPF" Congress protests for withdrawal of EPF tax proposal PM Modi asks Jaitley to reconsider taxing part of EPF withdrawals, say sources EPF row: Nitish slams Centre, says financial future of youth in jeopardy FM to clarify position on EPF withdrawals in Parliament soon Rahul demands rollback of proposed EPF withdrawal tax

After sharp criticism of a Budget proposal to tax 60 per cent of the amount withdrawn from the Employees' Provident Fund, the Union finance ministry will consider suggestions for partially withdrawing it. Show full article Read more from our special coverage on "EPFO, BUDGET 2016 " EPF tax: Its a healthy proposal