Centre decides to withdraw tax on Provident Fund News have surfaced that the Prime Minister has instructed the Finance Minister to put a hold on the proposed plan to impose taxes on PF withdrawals. Finance Minister Arun Jaitley is expected to make an official announcement in this regard shortly. Employee unions all over the country have been vehemently opposing the proposed … [Read more...] about Centre decides to withdraw tax on Provident Fund
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Provident Fund
Deduction of Income Tax on withdrawal of Provident Fund 60%
Deduction of Income Tax on withdrawal of Provident Fund 60% NATIONAL COUNCIL (STAFF SIDE) Joint Consultative Machinery for Central Government Employees 13-C, Ferozshah Road, New Delhi – 110001 E Mail: nc.jchm.np@gmail.com No. NC-JCM/2016 Dated:- 1st March, 2016 To The Hon’ble Finance Minister, Government of India, North Block, New Delhi. Dear Sir, Sub: Deduction of … [Read more...] about Deduction of Income Tax on withdrawal of Provident Fund 60%
EPFO may pay 9% interest on PF deposits for 2015-16
EPFO may pay 9% interest on PF deposits for 2015-16 Retirement fund body EPFO may provide 9 per cent interest on PF deposits for this fiscal, which is higher compared to 8.75 per cent provided in previous two fiscals to its over five crore subscribers. The Employees Provident Fund Organisation’s (EPFO) finance panel has recommended raising the interest rate on statutory … [Read more...] about EPFO may pay 9% interest on PF deposits for 2015-16
Premature Provident Fund withdrawal – Income tax will be imposed
Premature Provident Fund withdrawal – Income tax will be imposed Income Tax for Premature Provident Fund withdrawal of more than Rs.30,000 The Government has announced that income tax will be imposed if, at the time of premature withdrawal, the Provident Fund amount is in excess of Rs.30,000. Finance Minister brought a new provision in his budget that allows for TDS on … [Read more...] about Premature Provident Fund withdrawal – Income tax will be imposed