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  1. Aug 16, 2023 · What are the different Investment proofs you can submit to claim tax deductions and exemptions for FY 2023-24? When is the last date to submit investment proof documents for FY 2023-24 (AY 2024-25)? What is Form 12BB Investment Declaration Form?

  2. Jul 9, 2024 · Form 12BB: Check out the comprehensive guide on investment declaration with Form 12BB. Know the purpose, sample, how to download, fill, and utilize Form 12BB to minimize your tax liability.

  3. Apr 16, 2024 · Through the investment declaration form, an employee provides an outline for planned investments and expenses for determining the eligibility for claiming the deductions. Using the information, the employer adjusts the monthly Tax Deducted at Source (TDS) amount of the employee.

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    • Personal Details : This is the first section of Form 12BB, you need to mention your : Full Name. Address. Permanent Account Number. Financial year (Current Financial Year is F.Y.
    • HRA(House Rent Allowance) : For claiming HRA tax exemption, you need to submit the following details to your employer - Amount of Rent paid. Name of your landlord.
    • LTA(Leave Travel Concession/Allowance): This allowance is one and the only allowance that helps saves tax only when you take a holiday. 1. Evidence/Proof for claiming LTA tax exemption
    • Deduction of Interest on Borrowing : Deduction of interest on borrowings on home loan is allowed under section 24 of the income tax laws. You can claim deduction for interest on your home loan taken for construction,reconstruction, repair, purchase or renovation.
  5. Jul 2, 2024 · Investment declaration lets employees tell their employers about their planned tax-saving investments and annual deductions. It helps employers calculate the right amount of tax to deduct from the employee’s salary each month, preventing either too much or too little tax from being taken.

  6. May 10, 2018 · Form 12BB of income tax act is required to be filed with the employer if you want him to consider the HRA, LTA, Section 80 and interest paid on home loans under section 24 and thus deduct lower amount of TDS from your salary. This form is applicable from 1st June, 2016.

  7. Apr 1, 2024 · Download offline utilities related to Income tax returns/forms, DSC Management Software and Mobile App.