EPF Tax

Parking money into the govt's retirement fund has become less attractive. After effecting interest rate cut, the EPFO is now levying TDS on interest earned on contributions above Rs 2.5 lakh

Govt may have to respond to concerns over equalisation levy, exporters issues, definition of the term 'liable to tax' and taxability of interest on employees' EPF contributions exceeding Rs 2.5 lakh

Ensure that you fill out details correctly as the department will tally it with the TDS it has received from EPFO

Govt plans to tax just 60% of the corpus withdrawn from pension funds

Stand due to staunch opposition from labour unions

With reference to the report, "Govt buries EPF tax" (March 9), while making a statement withdrawing the proposal in paragraphs 138 and 139 of the Budget speech, Finance Minister Arun Jaitley said the government would like to do review it comprehensively. The way in which the proposal was rolled back denied Parliament an opportunity to take an informed view on the government's plan to "move towards a pensioned society".The blame for this should be shared equally by the government - for drafting measures without considering their implications - and the Opposition - for trying to claim credit for defeating a government proposal without waiting for the debate on the Finance Bill in Parliament to express its views.Let us hope a parliamentary committee supported by expert views will study the pros and cons of all initiatives taken since 2003 when the New Pension Scheme - known as National Pension System (NPS) at present - was introduced through an executive order without any legislative sanc

It's unfortunate the govt seems close to bowing to pressure from a limited section of the public

I endorse Anil Kumar's view in his letter to the editor, "EPF not a freebie" (March 4)

He said that there was miscommunication about the proposal in budget which needed to be cleared