Top 20 HNIs have Rs 825cr in their PF accounts: Govt

Overall, HNI account holders had an average corpus of Rs 5.9 crore. They had average earnings of Rs 50.3 lakh annually - and tax-free under the current dispensation. ​​"The government has done away with this disparity of paying huge sum of tax-free interest to HNIs at the cost of honest average salaried class contributor and taxpayers," an official said, justifying the tax proposal in the Budget.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/36M6k7E