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Form 12BB has to be submitted at the end of the financial year to employer.
12bb form for income tax. The standard Form 12BB is for all salaried Employees to claim tax deductions. Ad Find How To Do My Income Tax. Ad Find How To Do My Income Tax.
The Form 12BB is a statement of claims by an employee for deduction of tax. You use can use it to claim deductions for leave travel allowance LTALTC house rent allowance HRA interest paid on home loans and all other tax deductions pertaining to Chapter VI-A of the Income Tax Act. Form 12BB has to be submitted at the end of the financial year.
Ad Find Form For Income Tax. It is also been made mandatory to submit documentary evidence of your investments expenditures. Ad Find Form For Income Tax Return.
With effect from 1st June 2016 a salaried employee is required to submit the Form 12BB to his or her employee to claim tax benefits or rebate on investments and expenses. NAYA SARAL - Income-tax return form for resident individual Hindu undivided family not having income from business or profession or capital gains or agricultural income Particulars of Bank Account Mandatory in Refund cases Name of the Bank MICR Code 9 digit Address of Bank Branch Type of Ac SavingsCurrent Account Number ECS YN. 2 Permanent account number.
Form 12BB is the form that you fill out with the appropriate credentials and send to the employer and most importantly not the Income Tax Department because then your employer can determine the total how much income tax to exempt from your monthly income. 3 Financial year. As per this notification with effect from 1 st June 2016 employees are required to submit new form 12BB to the employer with details of investment and expenditure to claim income tax deduction from salary.
Form 12BB is a statement of claims by an employee for deduction of tax. But with effective from 1st June 2016 to claim income tax deductions you need to submit new Form 12BB to your employer. 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.
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