Since there was no standard format required by salaried employees to disclose their investment details to their employers, each employer had to submit proof for each investment made in the year. The ...

Effective June 1, all employees will have to fill in a new form 12BB issued by the central board of direct taxes in order to claim a tax deduction on LTA (Leave Travel Allowance), HRA (House Rent ...

Employees will now be required to submit evidences/particulars of tax savings to employers in form 12BB. Ahmedabad: Employees will now be required to submit evidences/particulars of tax savings to ...

Important Year-End Tax Strategies The financial year ends in March, but December 31 is a critical tax-planning checkpoint.

NEW DELHI: The income tax department has come out with a standard Form 12BB for salaried taxpayers to claim tax deduction on leave travel allowance concession (LTALTC), house rent allowance (HRA) and ...

While diligent paperwork helps claim tax benefits, with employers under pressure from the government, any lapse in documentation by an employee will lead to sharp cuts in salary, warns Vikas Kumar ...