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of <h1>Finance Bill 2023 proposes amending section 192A of Income-tax Act, removing PAN requirement for EPF tax deduction.</h1> Clause 80 of the Finance Bill, 2023, proposes an amendment to section 192A of the Income-tax Act, which concerns the deduction of tax on the taxable component of accumulated balances payable to employees under the Employees' Provident Fund Scheme, 1952. The amendment seeks to omit the second proviso, which currently requires individuals to provide their Permanent Account Number (PAN) to avoid tax deduction at the maximum marginal rate. This change is set to take effect from April 1, 2023.
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