Government withdraws Controversial EPF Tax proposal

Newsroom24x7 Staff

 

Finance Minister Arun Jaitley

Finance Minister Arun Jaitley

New Delhi: India’s Finance Minister Arun Jaitley gave a short speech in the Lok Sabha today to announce the roll-back of the controversial Employees Provident Fund (EPF) Tax.

The government would go for a “comprehensive review” of the EPF Tax proposal, Jaitley told the House.

The Budget proposal to tax EPF last week, came under massive citicism from the people, the opposition parties as well was sections within the ruling BJP, including its frontal organisations.

While withdrawing the EPF tax proposal, Jaitley said that the proposal to make 40 per cent of the total withdrawal from the National Pension Scheme (NPS), will remain unchanged.

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