Employees provident fund (EPF) will soon be taxable for those with high salaries1 min read 01 Feb 2020, 04:19 PM IST
Employer's contribution for provident fund, NPS and superannuation worth more than 7.5 lakh a year will be taxable
The new income tax rules affects only those in a high salary bracket
NEW DELHI : Those with high salaries might soon have to shell out income tax on employers contribution under employees' provident fund (EPF), National Pension System (NPS) and superannuation fund. In the Union Budget 2020, finance minister Nirmala Sitharaman has introduced a cumulative upper ceiling of ₹7.5 lakh for the three investments which give tax benefits.
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