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Saving Form-Income Tax 12-13

The document discusses various tax deductions available under sections 80C, 80CCC, 80CCD, 80D, 80E, 80G, and 24 of the Indian Income Tax Act. It provides details of eligible investments and expenditures for tax deductions, including life insurance premiums, PPF, ELSS, home loan principal repayment, medical insurance premiums, education loans, donations, and interest on housing loans. It requests employees whose gross salary exceeds Rs. 200,000 to submit details of investments made to avoid proportionate TDS deductions from salary for the financial year.

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0% found this document useful (0 votes)
73 views9 pages

Saving Form-Income Tax 12-13

The document discusses various tax deductions available under sections 80C, 80CCC, 80CCD, 80D, 80E, 80G, and 24 of the Indian Income Tax Act. It provides details of eligible investments and expenditures for tax deductions, including life insurance premiums, PPF, ELSS, home loan principal repayment, medical insurance premiums, education loans, donations, and interest on housing loans. It requests employees whose gross salary exceeds Rs. 200,000 to submit details of investments made to avoid proportionate TDS deductions from salary for the financial year.

Uploaded by

khaleel887
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLS, PDF, TXT or read online on Scribd
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Under Section 80C & 80CCC & 80CCD (up to a maximum of Rs.

1 Lakh)
1. Life Insurance Premiums 2. National Savings Certificate (NSC), NSC interest reinvestment Certificate 3. Post Office Time Deposit Account: (For duration of 5 years or more) 4. Equity Linked Savings Scheme (ELSS) 5. ULIP 6. Provident Fund (PF)

8. Home Loan Principal Repayment

10. Scheduled Bank FD (5 years): Seal of Tax benefit must be present 11. Pension Funds (Section 80CCC): Amount contributed to listed Pension fund

Section 80D Medical Insurance premium paid - Rs. 15000 for self/ Spouse/Children. Section E

Section 80 G (100% deduction) Donations made to Prime ministers Relief fund, Chief Ministers Relief fund Section 24. Interest on housing Loan For loan taken before 31st March 1999 Rs.30000/For loan taken after 1st April 1999 Rs.1.5 Lakh House Rent Allowance (HRA)

If your gross salary exceeds Rs. 200,000 you are requested to submit the details of any investments made or else TDS will be deducted at proportionate rate from salary for the financial year

Under Section 80C & 80CCC & 80CCD (up to a maximum of Rs. 1 Lakh)
1. Life Insurance Premiums 2. National Savings Certificate (NSC), NSC interest reinvestment Certificate 3. Post Office Time Deposit Account: (For duration of 5 years or more) 4. Equity Linked Savings Scheme (ELSS) 5. ULIP 6. Provident Fund (PF) 7. Public Provident Fund (PPF): The minimum and maximum allowed investments in PPF are Rs. 500 and Rs. 70,000 per year respectively. 8. Home Loan Principal Repayment 9. Childrens education expense: The tax benefit is allowed only for 2 children in a family. The maximum claim is Rs.12000 per child. (This is excluding the fee incurred for transportation) 10. Scheduled Bank FD (5 years): Seal of Tax benefit must be present 11. Pension Funds (Section 80CCC): Amount contributed to listed Pension fund Note: (The tax benefit for the above mentioned investments scheme (1-5) can be availed in your spouses, your childrens or your name) Section 80D Medical Insurance premium paid - Rs. 15000 for self/ Spouse/Children. Section E Interest paid on education loan from bank for own/ spouse or childrens higher studies years) Section 80 G (100% deduction) Donations made to Prime ministers Relief fund, Chief Ministers Relief fund Section 24. Interest on housing Loan For loan taken before 31st March 1999 Rs.30000/For loan taken after 1st April 1999 Rs.1.5 Lakh House Rent Allowance (HRA)

(for a period of 8

The deductions on HRA as per income tax rules will be applicable on providing rent receipts duly signed by the house owner with revenue stamp affixed on it

ACTUAL/PROPOSED INVESTMENT STATEMENT FOR THE YEAR 2012-2013


Name Employe code Designation Address of Rented House Period for staying on Rent From (DD/MM/YY) To (DD/MM/YY) Mob. No. E_mail ID PAN No. Rent amt.per month (Rs.) Proof Attached Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No Proof Attached

City _________________ Particulars

Policy No.

Premium Amount Payment Date

Particulars of Investment U/s 80C & 80CCC (Maximum of Rs. 100000) 1. Life Insurance Premium (LIC/ULIP) Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No 2. Pension Policy/Retirement Benefit Unit Scheme (Qtr Receipt) Yes / No Yes / No Yes / No Yes / No Proof Attached

Other Savings 1. Public Provident Fund

Account / Bond No./Receipt No

Amount

Payment Date

Yes / No Yes / No 2. Equity Linked Saving Schemes Yes / No Yes / No 3. Child Tution Fee Yes / No Yes / No Yes / No Yes / No

4. Five yrs Bank Term Deposit/Post Office Time Deposit Yes / No Yes / No 5. House Loan Principal Amount (Apr to Mar) Yes / No 6. Others (Pls Specify) a) ELSS

Yes / No Yes / No

PARTICULARS OF OTHER INVESTMENT/EXPENDITURE DEDUCTIBLE PARTICULARS Account / Bond Amount Payment Date No./Receipt No 1. Medical Insurance Premium U/s 80D

Proof Attached

Yes / No 2. Interest on Loan for Higher Education U/s 80E Yes / No Yes / No 3. Interest on housing Loan a) Intt. On loan Prior to 1st April 99 b) Intt on loan taken on or after 1st April 99 Further Attach as under for both a) and b) above Proof for Ownership of House Proof for Possesion of House Declaration of other income

Yes / No Yes / No

Yes / No Yes / No Yes / No

Copy of Sale Deed / POA Certificate from Municipal/Local Auth. Hard Copy duly filled & signed.

Yes / No Yes / No Yes / No

I do hereby declare that the above information is correct.

Encl : - Savings Proofs _______Nos. - Declaration Form _______Nos. -Rent Receipt _______Nos. - Rent Agreement/PAN of Landlord Date ______________

Signature

DECLARATION
A. I understand that the claim of deductions under Chapter VI - A is based on estimated projections of investment / expenditure stated above which I will confirm with documentary evidence before 20th January 2013 B. I shall intimate the Company of any change in my contributions/Investments/payments affecting my eligibility to deductions under Chapter VI -A on quaterly bais and finally on or before 31st December 2012 C. My claim for exemption of HRA (either full or part) is based on the rent actual paid by me and as per receipt attached herewith. D. I understand that no refund of excess tax, if any, deducted from my salary will be made to me by the Company under any circumstances and that any such refund will have to be claimed by me in my Tax Return, to be filed by me with the Income-tax authorities E. I hereby undertake, agree and confirm that I shall be fully responsible for any income tax liability that may arise if this declaration is found incorrect in any manner. Signature

ACTUAL/PROPOSED INVESTMENT STATEMENT FOR THE YEAR 2012-2013


Name Employe code Designation

Bills Produced after 31 Jan 2012 shall not be considered


1. Medical Insurance Premium U/s 80D & Medical Bills Name of Patient

Relationship

Bill No& Date

Total Amount Date ______________

FOR THE YEAR 2012-2013


Mob. No. E_mail ID PAN No.

Proof Attached Amount Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No Yes / No 0 Yes / No Signature 0 0 0

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