Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: articles on VAT and GST in India :: due date for vat payment :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: Central Excise rule to resale the machines to a new company :: empanelment :: cpt
« News Headlines »
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout
 Income-tax (27th Amendment) Rules, 2016 - 92/2016
 Announcement - Clarifications in Respect of MEF 2016-17

PPF savings may be taxed on maturity
February, 21st 2007

There is a chance you may soon have to make some changes in how you plan your finances. Sources say the government may reopen a proposal to levy a tax on your savings in totally tax-free instruments like the Public Provident Fund (PPF) and equitylinked savings schemes (ELSS) offered by mutual funds. This, sources said, will be done by introducing a new tax called exempt-exempt-tax (EET).

In this regime, contributions to tax savings instruments are exempted (E) from the taxable income. The interest earned on these contributions will also find exemption (E). But at the time of maturity, these contributions will be taxed (T).

This is in contrast to the current EEE or exempt-exempt-exempt regime where contributions to tax-saving investments are exempt from taxes at all stages.

Sources said the finance minister may kick off EET in a phased manner by first covering non-compulsory schemes like PPF and ELSS with prospective effect. What it means is that future investments in PPF and ELSS may be subject to tax at the time of withdrawal beginning April 1.

But both these instruments are likely to have a lock-in period of five years. Subsequent to this, its expected that investments in Employees Provident Fund and pension schemes along with National Savings Certificate, post office savings, bank deposits, securities of Central government, bonds of infrastructure companies and even insurance policies may find their way into the EET net.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions