My pressure forced govt to relieve salaried class: Rahul Gandhi on EPF rollback

Rahul Gandhi

Congress vice-president Rahul Gandhi on Tuesday welcomed the government's decision to rollback tax on Employees' Provident Fund (EPF) withdrawals and said that it was because of his pressure that the ruling dispensation provided relief to the salaried class.

"I told the government that they should not oppress the salaried-class. So, the rollback of the government is a good decision," Gandhi told the media.

Read more from our special coverage on "EPF"

"Whenever somebody is being oppressed wrongly or victimized, I tend to try and help those people. I felt that the salaried and the middle-class people were being hurt by the government. So, I decided to put some pressure on the government. I am happy that they have got some relief," he added.

Finance Minister Arun Jaitley Tuesday announced relief on the issue of tax on EPF withdrawals, which was proposed in the Union Budget on February 29, 2016.

As per the announcement made by Jaitley in the Lok Sabha, the common man is liable for no tax on withdrawal from EPF and other superannuation funds.

In the recent budget, the government has proposed that withdrawal in excess of 40% of the accumulated corpus will be taxed.

The Finance Minister made it clear that the aim of Prime Minister Narendra Modi-led government is to create an insured India and presumptive taxes will benefit the small and medium taxpayers.

In his post-Budget 2016-17 interaction with industry chambers, Jaitley had pointed that the revenue department is doing an important job to make sure that people comply.


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel
Read More on

CURRENT AFFAIRS

NATIONAL


Most Read

Markets

Companies

Opinion

Latest News

Todays Paper

News you can use