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From taxation of EPF contributions to new wage code, what to expect in FY22

Here is a look at some of the salient ones

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Life becomes easier for seniors. But they must check if they will still be exempt if they have income from tax-exempt sources, like PPF, agri income, etc

Business Standard New Delhi

2 min read Last Updated : Apr 01 2021 | 12:41 AM IST

From changes in taxation of EPF contributions, to the new wage code, a slew of changes have been proposed that will impact savings and salaries. Some of the changes will come into force from Thursday and some others later in the year. Here is a look at some of the salient ones.

Changes that will come into effect from today

> Interest on EPF self-contribution taxable above Rs 2.5 lakh

Impact: For employees in the 30 per cent tax bracket, the post-tax return on contributions above Rs 2.5 lakh will be 5.85 per cent. Only instruments like Public Provident Fund (6.4 per cent

Topics : Taxation EPF wage code Bill