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In the past, investment declaration lacked a standardized format until the CBDT introduced Form 12BB on June 1, 2016. Applicable to all salary recipients, it facilitates the disclosure of expenses and investments for tax exemptions. This form is submitted to the employer, not the Income Tax Department, typically during January or February. Our article delves into Form 12BB under the Income Tax Act, covering its various components like HRA, LTA, and deductions. URL: https://thenewstimeusa.com/form-12bb-deduction-significant-points/
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