The CBDT has made tweaks in Form 16 regarding tax deductions and benefits. These changes aim to provide clearer details on various taxes, deductions, and exemptions related to salary.
Taxpayers attention! Form 16 and Form 24Q formats changed; some other major updates in CBDT circular
Now a new column named 388A has been added to Form 24Q. Information about other TDS/TCS deductions will be given in this column to make tax reporting easier for both companies and employees.
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