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Saturday, March 5, 2016

No tax on PPF, only interest on 60% EPF withdrawal will be taxed

No tax on PPF, only interest on 60% EPF withdrawal will be taxed: After a huge uproar and the confusion over a proposal in Budget 2016 to tax 10% of employee provident fund withdrawals, the Finance Ministry has issued a clarification. Explaining the proposal, Revenue Secretary Hasmukh Adhia said contributions to the Public Provident Fund (PPF) will continue to remain exempted from tax."PPF contributions will continue to be tax exempt. There will be no tax on wit....
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