WHAT IS INVESTMENT DECLARATION FORM?

Posted on 03rd Aug 2018 | 1042 views

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What is an investment declaration form?

At the beginning of every financial year the employer or the company account department will ask for investment declaration form from their employees in order to avoid TDS ( tax deducted at the source as per the section 192 of the income tax which covers details of TDS states that employers should withhold taxes at the time of payment of salaries .if an employee in order to lessen the tax or make it nil investment declaration form should be submitted on receiving the investment declaration form the employer will take into account the proposed tax deduction savings this process will reduce the proposed estimated income of the employee for the financial year and it will also reduce the TDS correspondingly. There is no need to submit any supporting document with the declaration form. For further details, Generally used tax saving investment comes under income tax section 80C and 80D and section 24 which help reduction of taxes.

Investment declaration form for FY 2017-18

Form 12BB

Form 12BB is the document used for the claiming of tax deduction. from 1st June onwards 2016 employees employed in an organization is required to submit form 12BB to the employer to claim tax benefits on expense and investments. Documentary evidence has to be provided for the expenses at the end of the financial year.

Investment declaration form for FY 2017-18

Details in the form

• Employee Code

• Employee Name

• Employee Designation

• Employee PAN

• Employee DOB

• House Rent Allowance

• LTA

• Medical Reimbursement

Investment declaration form for FY 2017-18

Investment declaration form for FY 2017-18

Investment declaration form for FY 2017-18

Investment declaration form for FY 2017-18

Investment declaration form for FY 2017-18

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