LatestCorporate Compliance 20 July 2026
Tax Debate Sparked
A recent post by an employee who paid close to 1 crore in taxes has triggered a debate about the newly notified Employees' Provident Funds Scheme, 2026, and how severance pay will also be taxed, raising concerns about the impact on employees' finances and the fairness of the tax system
The newly notified Employees' Provident Funds Scheme, 2026, has sparked a debate about taxes on severance pay. Key points to consider:
- The scheme will tax severance pay, in addition to other sources of income
- This move is expected to impact employees' finances, particularly those who have already paid a significant amount in taxes.
The issue has raised questions about the fairness of the tax system and how it affects individuals
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