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I-T Dept gives format for HRA, LTA declaration
short by Aditya Kashyap / on Thursday, 5 May, 2016
The Income Tax Department has prescribed a format, Form 12BB, for individuals to claim tax deduction on leave travel allowance (LTA), leave travel concessions (LTC), house rental allowance (HRA) and interest paid on home loans. Currently, employees claiming tax deductions file self-declarations to employers, with regard to individual sources along with evidences for each financial year.