On Budget

Dear sir/s NarendraModi’ji, ArunJaitley’ji, JayantSinha’ji,

Today’s budget has hit all possible right chords with every Indian, this is one budget when finance minister used the words Farmer, Gareeb (poor), and Infrastructure 19 times each. Other repeatedly used words were Youth and Development. We all understand India is just a make up, our real country is Bharat and it lives in villages.

This proves what the government is aiming for and the biggest proof of this budgets success is that no opposing member of any political party has been able to criticize with numbers and facts, they are using generic statements and fulfilling their duties.

One single area where every Employee is disappointed with the budget 2016 is the taxation of PF/EPF upon withdrawal. Though 40% is exempt, taxing the balance 60% has not gone down well with lacs of salaried class in the country.

I know you have done this to align with NPS and other schemes which have EET principle. In fact if u make all schemes into EEE including NPS, and NPS already enjoying additional Rs.50000/- tax break can make the scheme one of the biggest within few years. It could be so big that the equity portion will be enough to counter FII outflows when ever they occur.

Moreover keeping the PF tax free doesn’t harm the government in big way. Hence request you to reverse PF to EEE and also make NPS under EEE. If this is done, this budget would be termed as a Dream Budget for people too and not just for our PM.

Disclosure: Iam not a salaried employee and requesting this on behalf of all salaried class, as many of them are my clients too.

‘The posts under the Category ‘Vivek Speaks’ are in his personal capacity, VRIDHI as a company may or may not subscribe to the views’

Advertisements

3 thoughts on “On Budget

  1. Employees across the country will be happy with @NarendraModi’ji @ArunJaitley’ji and @JayanSinha’ji for having withdrawn the EPF Tax.
    The employers tax above Rs.150000/- corpus also has been withdrawn.

    ‘At #VRIDHI we are happy that Mr.Vivek was also part of this Withdraw chorus and had officially written tagging our PM and FM’

    Like

  2. Clarification:

    Further ‪#‎EPF‬ & ‪#‎PPF‬ Clarity – Good Clarity:
    * “Only interest accrued on 60% contribution to EPF after April 1, 2016 will be taxed; principal amount to remain tax exempt
    * Small salaried employees with up to ₹15,000/month income will be kept out of purview of proposed taxation of EPF
    * PPF contributions will continue to be tax exempt; no tax on withdrawal: Revenue Secretary Hasmukh Adhia

    http://www.moneycontrol.com/news/economy/no-taxppf-withdrawal-only-interest-to-be-taxedepf-govt_5715681.html

    Like

Post your Valuable Comments below:

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.