EPFO Latest News: Income Tax exemption! Modi government takes big decision - Check what it is and how it will impact you
In a major development, Modi government on Tuesday raised the deposit threshold limit to Rs 5 lakh per annum in provident fund for which interest would continue to be tax exempt.
Replying to the debate on the Finance Bill 2021 in the Lok Sabha, Sitharaman made the announcement regarding raising the limit to Rs 5 lakh in cases where employers do not make contributions to the provident fund. Photo: Reuters