Retirement fund body EPFO on Tuesday decided to provide interest on inoperative accounts from April 1, a move which will benefit over nine crore such account-holders having total deposits of over Rs 32,000 crore.
Concerned over the rising cases of refund-related grievances of the tax-paying public, CBDT Monday issued fresh directions to the Income Tax Department asking it to process all such cases, pending this fiscal, within 15 days instead of the stipulated 30 days.
Finance Minister Arun Jaitley, who had proposed a change in rule aiming at reducing litigation and increasing transparency in the Union Budget 2016, is likely to make an official statement in the House outlining the revised proposal.
Labour Minister Bandaru Dattatreya today said he is holding discussions on the controversial budget proposal to tax EPF withdrawals with the Finance Ministry and government will reveal final details on the issue during the debate on Budget.
Some good news for government employees anticipating Centre's response to their demands on salary hike! As per reports, government may agree to restore some of the allowances that were subsumed by the 7th Pay Commission's recommendations.