Arun Jaitley’s move to tax EPF withdrawal.

In order to bring parity in tax treatment of various pension plans, Finance Minister Arun Jaitley’s budget has proposed that contribution made on or after April 1, 2016 by an employee participating in a recognised provident fund and superannuation fund, up to 40 per cent of the accumulated balance of such contributions on withdrawal shall be exempt from tax. In other words 60 per cent or the lion’s share of all subsequent contributions will be taxed.

Here’s what tweeple have o say about the decision.

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