Jaitley now withdraws the EPF Proposal, apparently. This was part of his speech in the Parliament today. Our View We had a quick periscope on what we thought: LIVE on #Periscope : EPF Tax removed by Arun Jaitleyt https://t.co/HaI6Vh79An — Deepak Shenoy (@deepakshenoy) March 8, 2016 We think the EPF Tax is gone for now, but they will review the concept and come back. The review is intended to push people into a pensioned retirement rather than a lumpsum withdrawal and therefore this tax can come back in different ways. The fight isn’t over. The change will however be a relief to people who can’t change their PF contributions because the companies they work in don’t know how to switch the contribution amounts. The other thing: Even the employer contribution being limited to Rs. 150,000 for non-taxability has been removed . (Para 139 in the speech). So employers can put any amount (limited to 12% of basic salary) and that will remain non taxable, apparently. … (Read On…)
[via Capital Mind]
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