Transport Allowance increased to INR 1600/- Notification No. 39/2015 dt. 13-04-15

CBDT has increased the transport allowance to INR 1600/- per month from 800/- per month as announced in Finance Budget, 2015. Notification no. 39/2015 dt. 13-04-15 has been released by CBDT which is given below and can also be downloaded from here. Google Plus Google CommunityFacebookTwitter

Interest u/s 234A not chargeable on self assessment tax paid

As per Section 234A, interest is chargeable for on late filing of Income Tax Return. This interest is charged on Total Tax Liability as reduced by TDS/ TCS, Advance tax, any relief u/s 90 & 90A, any deduction allowed u/s 91 and tax credit allowed under section 115JAA and 115JD.Since self assessment tax is not…