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Sunday, March 20, 2022

Enhanced NPS contribution of 4℅ must be tax free for all employee

When state and central employees getting benefit of non taxable on Enhanced NPS contribution of 4℅ why should we pay tax on it
In SBI on March payslip income tax impacted almost 8k to 12k
It not only about SBI today or some other day it will implement in all banks because there is no specific guidelines about bank employees Nps issue of enhanced 4%

Taxation must be common to everyone on all components of salary and benefits irrespective of their departments/employment. But bankers are meted out a stepmotherly treatment. Even our leave encashment on superannuation is taxed, whereas the central government employees are exempted from the same

And the other loot on bankers is Tax on actual medical expenditure incurred suppose if someone undergo Surgery with a cost of Rs.500000/- he has to pay back at least 100000 as tax
Escalation of this issue emerged

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