Zero income tax on Rs 15 lakh CTC? Here’s how these allowances and perks can cut your tax under new tax regimeSalaried individuals can significantly reduce their tax liability under the new tax regime by strategically utilizing allowances and perqui...
13 May, 2026, 04.59 PM IST
FM proposes simpler norms for employer contributions in PF trustsFinance Minister Nirmala Sitharaman has proposed simplifying provident fund (PF) trust rules by removing parity- and percentage-based limit...
01 Feb, 2026, 07.41 PM IST
Budget 2023 income tax: Why FM should plug this Provident Fund double taxation possibilityUnion Budget 2023: The government should provide a specific exemption to clarify that PF and its accretions which have been taxed earlier, ...
23 Jan, 2023, 04.15 PM IST
ITR filing difficult for taxpayers whose EPF interest is taxable: EYBudget 2021 announced that if an employee's own contribution in the EPF account exceeds Rs 2.5 lakh in the financial year, the interest ear...
26 Jul, 2022, 08.22 AM IST
How to link PAN with EPF account to avoid excess TDSTo avoid having too much tax withheld at source, employees should link their Permanent Account Number (PAN) to their EPF (TDS). Section 206...
14 Apr, 2022, 12.33 PM IST
Is VPF a good choice for retirement saving?VPF is a voluntary increase in the contribution towards PF, with no matching contribution from the employer. Since the amount is deducted e...
21 Dec, 2021, 10.24 AM IST
Finance Ministry notifies rules for calculating taxable interest in PF accountIn her Budget for 2021-22, Sitharaman had capped the tax-free interest earned on provident fund contribution by employees and employers tog...
02 Sep, 2021, 09.37 PM IST
PPF stays out of tax on EPF interest“The cap is not applicable on PPF because there is already a limit of ₹1.5 lakh contribution in a year to PPF,” the official said. The gove...
09 Feb, 2021, 10.28 AM IST
Interest on PF contribution above Rs 2.5 lakh to be taxableThe 2021 budget has also proposed to remove the tax exemption under Section 10(10d) to Ulips with a premium of more than Rs 2.5 lakh a year...
04 Feb, 2021, 02.29 PM IST
Are you richer or poorer: Here’s the bottomlineNo change in tax rates or slabs means that your income tax payout is, for most people, unaffected. However, if your salary is high or you u...
02 Feb, 2021, 08.39 AM IST
Budget 2020 may tax employer's excess contribution to EPF, NPS twiceThe budget proposal was made to restrict the tax-exempt contribution by employer to EPF, NPS and superannuation fund to Rs 7.5 lakh in an F...
14 Feb, 2020, 12.32 PM IST
Stopped working before completing 5 years? Your EPF could be taxableThe taxation is triggered in the year of withdrawal; however, the tax is computed as per the mechanism laid down in Rule 9 of the Fourth Sc...
31 May, 2019, 10.31 AM IST
Labour ministry leads effort for PF tax rollbackThe Budget has proposed that 60% of accumulated PF should be taxed at time of withdrawal, with the clock starting from April 1 this year.
05 Mar, 2016, 10.42 AM IST
Budget 2016: PPF stays on exemption list, only EPF interest to attract taxHasmukh Adhia said the Budget 2016 proposal to tax 60 per cent of EPF withdrawal will affect less than one-fifth of employees with high sal...
01 Mar, 2016, 05.19 PM IST
Budget 2016: Taxing PF withdrawal anti-worker, double taxation, say trade unionsCentral trade unions, including the RSS-backed Bharatiya Mazdoor Sangh (BMS), have opposed the Budget proposal to tax EPF.
01 Mar, 2016, 02.42 PM IST
- Trouble ahead: Income Tax department tells EPFO to tax premature PF withdrawals
The Income Tax department has asked the 3,70,000 crore EPFO to tax all withdrawals by workers with less than five years of PF savings.
30 Mar, 2011, 12.34 PM IST
- DTC: Impact on personal taxation for salaried individuals
Under the new rule, annual deduction has been raised to Rs 1.5 lakh for savings.
31 Aug, 2010, 02.22 AM IST