The New Form 12BAA for Employees
The Central Board of Direct Taxes (CBDT) has recently notified vide Notification No. 112/2024, dated October 15, 2024 introduction of a new Form 12BAA, to help salaried individuals inform their employers for tax already deducted (TDS) from other streams of income or collected (TCS). This is in line with the changes proposed in the Union…