Jaitley retracts proposal to tax EPF

Following an all-round attack, Finance Minister Arun Jaitley yesterday initiated a complete roll back of the controversial proposal to tax the Employees’ Provident Fund (EPS) at the time of withdrawal

New Delhi: Following an all-round attack, Finance Minister Arun Jaitley yesterday initiated a complete roll back of the controversial proposal to tax the Employees’ Provident Fund (EPS) at the time of withdrawal.

FM Arun Jaitley. Pic/PTI

“In view of the representations received, the government would like to do comprehensive review of this proposal and therefore I withdraw the proposals in para 138 and 139 on my budget speech. The proposal of 40 per cent exemption given to NPS subscribers at the time of withdrawal remains,” he said.

As the Centre rolled back the controversial proposal to tax EPF withdrawal, Rahul Gandhi mounted a fresh attack on the government.

“Finally the government was forced to listen to people and roll back the patently unfair tax on EPF. But the attempt to tax the safety net of millions of hard working middle class ppl was morally wrong&shows this Govt’s anti-ppl mindset (sic)”, the Congress VP stated on Twitter.

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