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FinMin officials under fire for EPF tax row

Now, officials say none of the people involved in the Budget-making process anticipated how unpopular the proposal would become

People's concerns on EPF tax proposal legitimate: Sinha

The government rolled back the proposal to tax EPF withdrawals as it realised that concerns raised by lots of people are very legitimate, Minister of State for Finance Jayant Sinha said today. ".. We realised that other than looking at something that would guide people towards retirement income, it actually resulted in situation where lots of people felt 60 per cent of the corpus of EPF that was restricted in terms of withdrawal was taking flexibility away from their own retirement plan which was a very legitimate concern that has come up," Sinha said at an event organised by industry body FICCI. Sinha said that the objective of the proposal was to provide "further benefits to salaried class as far as pension was concerned". In the face of all round attack, Finance Minister Arun Jaitley today completely rolled back the controversial proposal to tax the employees' provident fund (EPF) at the time of withdrawal. In the Budget for 2016-17, Finance Minister Arun ...

My pressure forced govt to relieve salaried class: Rahul Gandhi on EPF rollback

Jaitley said today that the common man is liable for no tax on withdrawal from EPF and other superannuation funds

Arun Jaitley rolls back proposal to tax provident fund

The Finance Minister withdrew the proposals in para 138 and 139 on his budget speech

EPF tax withdrawal big victory for 2.5 lakh people: Change.org

An online petition, to withdraw EPF tax, started by finance professional Vaibhav Aggarwal had got support of 2.5 lakh people

EPF rollback, a victory for common people: Mamata Banerjee

The West Bengal CM tweeted that she was happy that the EPF issue was first raised by them

FM Arun Jaitley rolls back EPF tax proposal

The Finance Minister on Tuesday rolled back a Budget 2016 proposal to tax 60% of EPF withdrawals

Congress protests for withdrawal of EPF tax proposal

Congress chief Ajay Maken said an employee will have to invest 60% of the PF in annuity to avoid paying tax during retirement

EPF row: Nitish slams Centre, says financial future of youth in jeopardy

Asserted that now with the imposition of the new cesses, the government has further 'swindled' the states of their share

FM to clarify position on EPF withdrawals in Parliament soon

Economic Affairs Secretary Shaktikanta Das on Friday said Finance Minister Arun Jaitley was considering suggestions that tax liability be confined only to returns on 60 per cent of withdrawn funds from employees' provident fund, if not invested in annuity. "An announcement in this regard will be made by the finance minister in the parliament very soon," Das said while addressing the representatives of the Federation of Indian Chambers of Commerce and Industry here.Govt to notify categoriesThe government will notify categories of employees who will be excluded from the controversial tax proposal on provident fund withdrawals, a Finance Ministry official said on Friday.Das said in the Union Budget 2016-17 proposals, the change in tax regime was to encourage more private sector employees to go for pension security after retirement instead of withdrawing the entire money from the provident fund account.

Rahul demands rollback of proposed EPF withdrawal tax

The total portfolio under the pension and provident fund scheme is estimated to be around Rs 6.5 lakh crore

5 questions to Arun Jaitley on the EPF tax row

Clarification by the finance ministry on the EPF tax row has raised more questions than answers

Budget 2016-17 surprise: EPF will now be partially taxable

To standardise all products, the FM introduced tax on EPF too

EPF flip-flop continues, govt now says will 'consider' taxing only interest

The latest twist came after Revenue Secretary Hasmukh Adhia earlier in the day said only interest on 60% of EPF would be taxed at withdrawal

Govt blinks on EPF, says only interest on 60% contribution to be taxed

The move to tax 60% of contributions effective April 1, 2016, had been roundly criticised since it would affect all salaried individuals

Tax on EPF: Online petition against retirement tax goes viral

Started by a finance professional Vaibhav Aggarwal, the appeal has support of nearly 3,000 people