Category Archives: CBDT

Where would deduction u/s 80CCD(1B) appear in Form 16 Part B ?

With effect from FY:2015-16, for investment in NPS, taxpayers can avail additional exemption of up to Rs. 50,000 as per Section 80CCD(1B)  while computing the taxable income. This deduction is… Read more »

What is the time-limit for passing order under section 220(2A)?

The Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner must pass order, either accepting or rejecting assessee’s application, to reduce or waive interest, within a period of… Read more »