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Dear FM, withdraw Budget 2016 proposal to tax PPF/EPF

This petition had 205 supporters


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Attention Tax Payers in INDIA - please share on Facebook / Twitter / Social Media

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Dear Mr. Jaitley,

We, the taxpayers of India understand that in the budget speech tabled today, you have put forward a proposal to tax Provident Fund Withdrawals on 60% of EPF / PPF maturity amount.

Kindly refer to the page 28 of today's budget, under the title - "Measures for moving towards a pensioned society".

This is a draconian act and will be a killer blow to the already tax burdened salaried class which pays 30% income tax + 30% taxes in indirect form i.e. customs, excise, service tax etc.

The money which is left after paying more direct/indirect taxes is saved into PPF / EPF and used for retirement planning. Many people use this fund for child's education, marriage, etc purposes. But, now even this corpus will be snatched away to a major extent. A middle class person has only one source of income post retirement that is provident funds. Those who work in private organizations do not have pension schemes arrangements too. Hence, EPF / PPF becomes the only source of their funds.

I urge Mr. Jaitley to reverse the above said decision with immediate effect. Your government came to force with a major support from middle class. Please do not give middle class a chance to break the support in next elections.

 

Dear All TAXPAYERS,

Please sign and share this petition and request Mr. Arun Jaitley to withdraw this decision immediately in post budget session.

"Be the change you want to see"

Link provided here for details -

http://www.business-standard.com/budget/article/budget-2016-17-surprise-epf-will-now-be-partially-taxable-116022900407_1.html

http://profit.ndtv.com/news/budget/article-provident-fund-withdrawals-to-be-taxed-in-big-setback-for-salaried-class-1282420

 

 



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