Deduction of Income Tax on 60% of Provident Fund withdrawn – Staff Side JCM reacts

NC Staff Side requests Govt to withdraw Income Tax proposed in the Budget on 60% of amount withdrawn from Provident Fund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On behalf of National Council/JCM it is very humbly requested that this tax proposal should be withdrawn immediately to stop the mental agony of government employees.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

Source : airfindia

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