Comments on: Direct Tax Code : Tax on Saving Withdrawals : EEE would be EET.

By: Subraman

Subraman — Sun, 07 Feb 2010 06:35:21 +0000

There is one aspect which has been ignored ind discussions about the proposed EET regime. Low paid employees whose income is below the taxation limit, would not be saving any tax when they contribute (which is compulsory) to their Provident Funds. But when they retire the accumulated amount would take their total income far above taxation limit and may even take it to the highest slab. In their case it is not deferment of taxation but fresh taxation which would not have been there if they did not contribute to Provident Fund at all but put the money in Bank Deposits. If it is proposed to introduce EET or ETT it should be ensured that savings for which no tax relief was claimed are exempted when withdrawn (Similar provision is available for premature withdrawals from Senior Citizen’s Scheme)

By: INTENSIVEKS

INTENSIVEKS — Mon, 14 Dec 2009 04:55:50 +0000

The LS Opposition Parties should “hoot out ” the Direct Tax Code that allows for taxation of EEE of today that matures after 31st March,2011.
For eg.if PF Moneys that are the ONLY Social Security of citizens becomes “chargeable to EETax” when they retire and withdraw for their sustenance in their remainder Life,then it is nothing but “LOAD OF LOOT BY THE GOVT.OF INDIA”. The citizens of this Land will NOT SPARE THE POLITICIANS and the bureaucrats who are taking advantage of this. SWINDLERS ALL.

By: APARNA SUTAR

APARNA SUTAR — Mon, 14 Dec 2009 04:44:08 +0000

its very usefull information.thanks a lot