Roll back of 60% taxation of EPF/NPS withdrawal announced
However after severe criticism of the Government, the Finance Minister Shri Arun Jaitley has today in Lok Sabha announced the much anticipated roll back of the proposal as under
“In the present reform, the policy objective is not to get more revenue but to encourage people to join the pension scheme. There are various other suggestions received which can also achieve the same policy objective of encouraging people to join the pension scheme.
In view of the representation received, the Government would like to do a comprehensive review of the proposal and therefore I withdraw the proposal in paragraph 138 and 139 of my budget speech.
The proposal of 40% exemption given to NPS subscriber at the time of withdrawal remains.”
- TDS on AMCs whether to be deducted u/s 194C or u/s 194J – ITAT to examine
- Fraud & deception not trade and business and money accumulated is proceeds of crime
- ICAI extends last date to submit MEF for FY 2025-26 to 10th October, 2025
- ICAI defers Guidance Note on Financial Statements of Non-Corporate entities/LLPs
- Delhi Govt. to help persons with benchmark disabilities with high support need
