Finance Bill gives relief on digital tax, provident fund threshold

Tax breaks for DFIs; way for LIC listing cleared

Parliament on Tuesday cleared changes to the finance Bill 2021, doubling the minimum limit of employee contribution to provident fund to over Rs 5 lakh for the purpose of taxation with some riders, paving the way for the listing of Life Insurance Corporation (LIC), exempting Indian-owned assets sold on digital platforms from equalization levy, and giving tax holidays for the proposed development finance institutions (DFIs).  

However, the employee provident fund (EPF) relaxation may benefit only government employees who contribute to statutory provident fund and central provident fund, some experts said.

Now, an employee getting interest on his contribution to the EPF or