Jaitley to make statement on rollback of EPF tax in Lok Sabha today


Finance Minister Arun Jaitley on Tuesday may clarifying the government’s stand and make a statement on the issue of tax on Employee’s Provident Fund withdrawals in the Lok Sabha.

The Minister is likely to announce rollback of his Budget announcement to levy tax on 60% of EPF withdrawal. The proposal had attracted strong criticism from the salaried class, forcing Prime Minister Narendra Modi to intervene and ask Jaitley to put the proposal on hold.

Read More: 60% of interest accrued after April 1 taxable

Apart from this, the government is to introduce a Bill to further amend the Enemy Property Act, 1968 and the Public Premises (Eviction of Unauthorised Occupants) Act, 1971 in the Lok Sabha.

The government has also listed the Bureau of Indian Standards Bill, the National Waterways Bill and Whistle Blowers’ Protection Amendment Bill in the Rajya Sabha. The Aadhaar Bill has not been listed for discussion in the Lok Sabha for Tuesday.

The Central government is hopeful that the oppositional parties will support not only the Aadhaar Bill, despite its objections on it being presented as a money Bill, but also the Real Estate (Regulation and Development) Bill in the Rajya Sabha.

Read More: PMO, Finance Ministry officials meets to decide future of EPF tax

Wefornews Bureau

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