Investment Declaration Form 2021-22 PDF Download | investment declaration fy 2021-22 PDF| Investment Declaration and Form in English Free PDF drive file at payrollservicesindia.com
The declaration of investment must be made at the beginning of the financial year. Your employer asks you to declare that you can deduct tax on your monthly salary for the year accordingly. The declaration of investment is important to you because it can lead to a higher salary.
You just have to estimate the investments you plan to make at the beginning of the financial year. You do not have to present real evidence until the end of the financial year. In fact, you can invest less or more. The possible investments must not be as declared
Download Investment Declaration Form 2021-22 PDF
|Post Updated Date||August 2, 2021|
|Total no of Pages||3|
|Total File Size||0.70 MB|
|Original Source of Information||payrollservicesindia.com|
Form 12BB is an employee’s statement of claims for tax deduction. With effect from 1 June 2016, an employee shall submit the Form 12BB to his employee for tax benefits or investment and expenses rebates. At the end of the financial year, Form 12BB must be submitted. For all salaried taxpayers, Form 12BB is applicable.
The employee must declare the investments they have made during the year using Form 12BB. At the end of the financial year, documentary evidence of such investments and expenses should also be provided.
Generate 12BB Form
For the following tax savings investments and expenses, an investment declaration must be made:
House rental permit
rent payable to the property owner together with name, address and PAN/Aadhaar landlord number
Leave travel grants or assistance
Leave the travel allowance or leave it according to the salary package.
Home Interest Loan
Interest payable to the lender with the lender’s name, address and PAN/Aadhaar number
Section 80C, 80CCC, 80CCD Deductions
- 80C: premium payable for life insurance and/or investments in ELSS, PPF, NPS or children’s school tuition fees, etc.
- 80CCC: premium payable on the annuity plan
- 80CCD: Further NPS contributions
- Other sections such as 80E, 80G, 80TTA, etc.
- 80D: medical insurance premium payable
- 80E: interest payable on the loan for education
- 80G: donations for specified organizations
- 80TTA: Income from savings bank account
Questions Frequently Asked
What is the purpose of the declaration of investment?
Employees must submit the deductions and exemptions that they wish to claim. Based on these declarations, the employer will deduct TDS on the employee’s salary. These investments should generally be made on the HR portal of the employer.
When should I submit Form 12BB?
Employers usually request a statement to estimate TDS calculations for the entire year at the beginning of the fiscal year. Form 12BB is submitted at the end of the financial year at a later date.
Do I need to submit Form 12BB to the Department of Income Tax?
No, Form 12BB must not be submitted to the tax department. You must submit it to your employer.
Investment Declaration Form 2021-22 Alternate Download Link
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