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Saturday, March 5, 2016

EPF will now be partially taxable

EPF will now be partially taxable: The FM has made Employee Provident Fund (EFP) and National Pension Scheme (NPS) withdrawals on retirement partially taxable.The EPF until now followed a exempt-exempt-exempt taxation structure. This means, there was no tax on investment, on interest accrued and on withdrawal. In case of NPS, the funds that you receive in your bank account was taxable.“In case of superannuation funds and recognised....
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