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Budget 2021: PF interest, Ulip gains now taxable beyond a certain limit

Reduction of time span for reopening assessments will reduce fear of the taxman

Ulips | GPF interest rate | Direct Tax

Bindisha Sarang 

indian companies, contracts, agreement, documents, brokers, agents, insurance, investments, taxes, arbitration
The FM has proposed to ease the compliance burden on senior citizens aged above 75 years

In the ‘pandemic Budget’, presented in a year that saw many losing jobs or facing a pay cut, there was widespread hope that the Finance Minister (FM) would offer some relief to the middle class by way of tax rebate. That did not happen. At the same time, the wealthy were fearful that the government might impose additional taxes on capital market gains, increase the surcharge on taxpayers in the higher-income brackets, or even reintroduce the wealth tax. Those fears proved to be unfounded as well.



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First Published: Mon, February 01 2021. 19:38 IST