New Delhi, Mar 01 (ANI): After the Government on Tuesday issued clarifications in the General Budget (2016-17), Minister of State (MoS) for Finance Jayant Sinha said the Public Provident Fund (PPF) withdrawals will be fully exempt from tax, adding that the new tax scheme will be applicable to National Pension System (NPS) and Employees' Provident Fund (EPF). Sinha further stated that the government has announced that 40 percent of the total corpus withdrawn at the time of retirement will be tax exempt both under recognised Provident Fund and NPS.
