December 15, 2024 04:39 (IST)
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Take back the tax on EPF: Rahul Gandhi to Modi govt.
New Delhi, Mar 3 (IBNS) Congress vice-president Rahul Gandhi on Thursday said the Modi government should take back the tax imposed on the Employees' Provident Fund (EPF) as announced in the annual budget and not destroy the safety net of the salaried class.
"The government should not destroy the safety net. I request the Prime Minister to take back the tax," he told reporters calling the taxation on EPF as unfair.
The finance ministry earlier had hinted that it is not considering any roll back in the proposed taxation of Employee Provident Fund (EPF) 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.
It was even expected that Prime Minister Narendra Modi might intervene.
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