Respected Sir, When the New Tax Code was released last year (2009), I went through it and found that the SALARIED CLASS is getting the MOST affected. It is proposed to bring withdrawals / maturity proceeds from PF, PPF and LIC under income for that particular year, and then tax it.
However, it is my sincere effort to bring to your attention that investments in PF, PPF and LIC are made from ALREADY TAX PAID money, and that whatever a SALARIED PERSON gets from these sources (PF, PPF & LIC) are his resources for RETIRED life.
Hence, I, on behalf of ALL SALARIED PEOPLE, earnestly request you to kindly keep PF, PPF and LIC OUT OF THE PURVIEW OF EET.
I have already posted my views in this regard in your ministry's website.
I honestly hope that this request shall be given a compassionate attention.
