Salaried Employee Opting For New Tax Regime: Clarification on Taxation

Clarification on Taxation for FY2020-21; Effective 1 April 2020 Central Board of Direct Tax (CBDT) has amended Rule 2BB of Income Tax [which prescribes allowances for the purposes of Sec. 10(14)], allows salaried employees opting for new tax regime u/s. 115BAC of Income Tax Act, 1961 to claim exemption u/s. 10(14) in certain cases; Provides …

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