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EPF tax rollback: Arun Jaitley however stated that 40 per cent exemption given to National Pension Scheme (NPS) subscriber at the time of withdrawal remains. In his budget proposal, Jaitley had proposed that 40 per cent of the EPF withdrawals would be tax exempt and the remaining 60 per cent would also get the same treatment provided the amount is invested in pension annuity schemes. (AP)<br><a href="https://www.financialexpress.com/article/budget-2016/fm-arun-jaitley-withdraws-controversial-budget-2016-epf-tax-proposal-nps-tax-exemption-to-remain/220780/"><strong>Budget 2016 EPF tax proposal withdrawn; NPS tax exemption to remain</strong></a></br>
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Budget 2016: Arun Jaitley has also targetted your ride. Traveling by hiring air-conditioned stage carriage will also become more expensive as it will now come under service tax with a rate of 5.6 per cent
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2. Arun Jaitley: "We framed the anti-black money law and asked people to disclose their black money and pay 60 percent tax instead of 30 percent plus penalty. In HSBC accounts details, while the UPA government did nothing, we assessed the accounts and filed criminal prosecution against each person. We also assessed and filed prosecutions against holders of Liechtenstein accounts. In Panama (Papers), there are two kinds of people. Few people have kept money outside the country with RBI's consent and few without it. Notices have been sent to all illegal account holders and inquiries are on".(AP)
Budget 2016: The USD 1 billion line of credit was announced by Prime Minister Narendra Modi during his visit to the Himalayan nation in August 2014. Similarly no project has been finalised for additional $1 billion that was announced by Indian Foreign Minister Sushma Swaraj during the International Conference on Nepal's Reconstruction (ICNR) on June 25 last year. (AP) -
Slamming the Congress for parliamentary disruptions, Jaitley described its politics as that of a 'fringe' party. "Mainstream political parties practise mainstream politics. But Congress practices a politics of fringe…Only fringe political parties work to stall the progress of country," he said while pointing out the work being stalled in Parliament due to disruptions. (AP)
