PM tells Jaitley to review EPF proposal?
Jaitley is expected to soon make an announcement in Parliament, putting a hold on the proposal, after his ministry has examined the PM's suggestion, NDTV reported quoting sources.
The finance ministry earlier had hinted that it is not considering any roll back in the proposed taxation of Employee Provident Fund withdrawal even as clamour for its rollback gained momentum.
The government has clarified that only the interest accrued on contributions to employee provident fund made after April 1 will be taxed while the principal will remain exempted from tax.
Ever since the proposal to tax withdrawals from the EPF was mentioned during the Union Budget 2016 on Monday, the salaried employees have been voicing their concern while rival politicians demanded its rollback.
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