Section 146 & Form 34 Explained: 30% Deduction on Additional Employee Cost Under the Income Tax Act, 2025
Section 146 of the Income Tax Act, 2025 carries forward the 30% deduction on additional employee cost (old Section 80JJAA) for three tax years. Form 34 (Rule 68) is the new prescribed CA-certified report, mandatory for assessees liable to audit under Section 63. Effective Tax Year 2026-27.
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