PM Modi asks FM to reconsider tax on EPF: Report
According to reports, PM Narendra Modi has asked Finance Minister Arun Jaitley to reconsider the proposed taxation on the provident fund withdrawals, amid opposition from trade unions. The Union Budget had proposed a taxation on 60% withdrawals under the Employees' Provident Fund (EPF) unless it is reinvested in annuities. Currently, the withdrawals under EPF are exempted from tax. 