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Revenue Secretary Hasmukh Adhia on Wednesday expressed surprise over the opposition to the Budget proposal to change the tax treatment on EPF withdrawals.
"I am really amazed .. a reform whose time has come..people are blocking," Adhia told a post-budget meeting organised by the Confederation of Indian Industry (CII) here.
The Budget proposal to change the tax treatment on EPF withdrawals is not a revenue mobilisation effort, Adhia said,adding that the move was intended to create pensioned society.
"Worldwide exempt-exempt-tax (EET) is the norm for all savings. Why should educated people oppose this. Anyway, Finance Minister will look at this in his reply," he said.
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