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 ...

Taxes withheld on salaries is based on the investment declaration filed by the employee at the start of the year. However, now, the Central Board of Direct Taxes (CBDT) has formalised the manner in ...

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 ...

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 ...