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CBDT clarifies various provisions of the Income-tax Act for reducing litigation and easing burden of compliance

News and Press Release - Dated:- 3-3-2016 - The Central Board of Direct Taxes (CBDT) has taken a number of decisions to clarify the applicability of various provisions of the Income-tax Act with the objective of easing the burden of compliance and reducing litigation. It has been clarified through Circular No. 1/2016 that under Section 80IA, the eligible assessee has the option of choosing the initial year from which the deduction can be claimed. Once the assessee has exercised the option of cho .....

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