Deduction of Income Tax on 60% of Provident Fund withdrawn – Staff Side JCM reacts
NC Staff Side requests Govt to withdraw Income Tax proposed in the Budget on 60% of amount withdrawn from Provident Fund
National Council (Staff Side)
Joint Consulative Machinery
for Central Government Employees
13-C Ferozshah Road, New Delhi – 110001
No. NC-JCM/2016
Dated:- 15th March, 2016
To:
The Hon’ble Finance Minister,
Government of India,
North Block,
New Delhi.
Dear Sir,
Sub: Deduction of Income Tax on withdrawal of P.F. 60%
We are deeply shocked to learn about imposing of tax on withdrawal of P.F.(Provident Fund) which is our hard earn money which used to be utilized in all emergencies for medical, educational, building of house, marriage of daughters etc. Imposition of tax on that had created all round agitation among govt. employees.
On behalf of National Council/JCM it is very humbly requested that this tax proposal should be withdrawn immediately to stop the mental agony of government employees.
I hope Central Govt. will not give any chance of serious agitation on this issue and will not disturb industrial peace as a whole.
Thanking you ,
Yours faithfully,
Shiva Gopal Mishra
Secretary
Checkout the links below for details of changes made in Income Tax as far as Provident is concerned.
Budget 2016 – EPF will now be Partially Taxable
EPF – Clarification on changes made in Income Tax
Budget 2016 – Tax Treatment on Provident Funds, Pension Fund and NPS