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Investments & Deductions Declaration for Income Tax for the Financial Year 2015-2016

Employee Name*

Employee ID

Rahul P Dhanak

PAN*
Gender*

Male/Female

No of Children
going to School*

Male

Email ID*

Date of Joining*
PAN of Landlord

A. Rent paid details for claiming HRA exemption


From Date

To Date

1-Apr
1-May

30-Apr
31-May

1-Jun

30-Jun

1-Jul
1-Aug

31-Jul
31-Aug

1-Sep
1-Oct

30-Sep
31-Oct

1-Nov

30-Nov

1-Dec
1-Jan

31-Dec
31-Jan

1-Feb
1-Mar

28-Feb
31-Mar

City of Rental Accomodation

Rent paid per month (INR)

LANDLORD PAN*

Deductions from Total Income

Value of Claim /
Invetsment (INR)

Allowed Claim as per


Income Tax

B.1

Medical Insurance Premium (U/S 80D) (Self,Spouce & Children)

B.2
B.3

Medical Insurance Premium (U/S 80D) For Senior Citizen


Medical Treatment / Handicapped Dependent (U/S 80DD) < 80% Disability

B.4
B.5

Medical Treatment / Handicapped Dependent (U/S 80DD) > 80% Disability


Medical Treatment Of Specified Diseases Only (U/S 80DDB)

B.6
B.7

Medical Treatment Of Specified Diseases Only (U/S 80DDB) For Senior Citizen
Interest On Educational Loan (U/S 80E)

B.8

Permanent Physical Disability (80U) < 80% Disability

B.9
B.11

Permanent Physical Disability Severe Disability(80U) > 80% Disability


Interest on saving account (80TTA)

B.12
B.13

Rajiv Gandhi Equity Saving Scheme (RGESS) (80CCG)


Royalty of a Patent (80RRB)

Chapter-VIA - Total amount of deduction allowed is Rs. 1,50,000 (80C)

C.1
C.2

Contribution To Pension Fund


Life Insurance Premium (LIC)

C.3

Public Provident Fund (PPF)

C.4
C.5

National Savings Certificate (NSC)


Children Education Fee (2 Child Tuition Fees Only)

C.6
C.7

Mutual Funds ( Only Taxsaver)


ULIP

C.8

Equity Linked Savings Scheme (ELSS)

C.9
C.10

Deposit In Post Office Tax Saving Scheme


Fixed Depost with Scheduled Bank for a period of 5 years or more (Bank FD)

C.11
C.12

Housing Loan - Principal amount repayment only


Employee's Provident Fund (EPF)

C.13

Infrastructure Bonds
-

D
D.1

Loss from House Property


Residence Status - Self - Occupied / Letout - First House
Please write "S" for if the property is Self Occupied and "L" if it is Let Out

Total amount of interest paid (post construction / possession) during the financial year
(April to March ) For all residential house properties.
D.2

Residence Status - Self - Occupied / Letout - Second and remaining all Houses
Please write "S" for if the property is Self Occupied and "L" if it is Let Out

200,000.00

Total amount of interest paid (post construction / possession) during the financial year
(April to March ) For all residential house properties.
E
E.1

F
F.1

Other Income Other Income declaration to be accounted for tax calculation


PREVIOUS EMPLOYER INCOME DETAILS - FORM 16 or Signed tax computation sheet from the Previous Employer
along with Form 12B is mandatory
Salary paid by the Previous Employer after sec 10 exemptions

Allowed Claim as per


Income Tax

Investments & Deductions Declaration for Income Tax for the Financial Year 2015-2016
Employee ID

Rahul P Dhanak

Employee Name*

PAN*
Gender*

Male/Female

No of Children
going to School*

Male

Email ID*

Date of Joining*

F.2
F.3

Profession Tax deducted by the Previous Employer


Provident Fund deducted by the Previous Employer

F.4

Income Tax deducted by the Previous Employer

Declaration
1) I hereby declare that the information given above is correct and true in all respects.
2) I also undertake to indemnify the company for any loss / liability that may arise in the event of the above information being
incorrect.
3) I undertake to submit self attested photocopies of all the proofs of Invetsment / Deduction Claims for the year before 15-02-2016
4) I understand that sending the documents after due date of submission will result in Taxation of non submitted Amounts. I also
understand that in this case, I will have to take effect of these Investments and Deductions through my Individual Income Tax Return
and I undertake the responsibility for the same.
5) I understand that I will have to take effect of the new Investments and Deductions (non regular) after 15-02-2016 through through
my Individual Income Tax Return and I undertake the responsibilty for the same.

Date

________________

Place

________________

Signature of Employee_________________________

A
A.1
A.2
A.3
A.4
A.5
A.6
A.7
A.8
A.9
A.10
A.11
A.12

Rent paid details for claiming HRA exemption


From Date
April
May
June
July
August
September
October
November
December
January
February
March
LANDLORD PAN*

Deductions from Total Income

B.1

Medical Insurance Premium (U/S 80D)

B.2

Medical Insurance Premium (U/S 80D) For Senior Citizen

B.3

Medical Treatment / Handicapped Dependent (U/S 80DD) < 80%


Disability

B.4

Medical Treatment / Handicapped Dependent (U/S 80DD) > 80%


Disability

B.5

Medical Treatment Of Specified Diseases Only (U/S 80DDB)

B.6
B.7
B.8
B.9
B.11

Medical Treatment Of Specified Diseases Only (U/S 80DDB) For Senior


Citizen
Interest On Educational Loan (U/S 80E)
Permanent Physical Disability (80U)
Permanent Physical Disability Severe Disability(80U)
Interest on saving account (80TTA)
Rajiv Gandhi Equity Saving Scheme (RGESS) (80CCG)

B.12
Royalty of a Patent (80RRB)
B.13
C

Total amount of deduction allowed is Rs. 1,50,000 (80C)

C.1

Contribution To Pension Fund

C.2
C.3
C.4

Life Insurance Premium (LIC)


Public Provident Fund (PPF)
National Savings Certificate (NSC)

C.5

Children Education Fee (2 Child Tuition Fees Only)

C.6

Mutual Funds ( Only TaxSaver)

C.7

ULIP

C.8
C.9

Equity Linked Savings Scheme (ELSS)


Deposit In Post Office Tax Saving Scheme

C.10

Fixed Deposit with Scheduled Bank for a period of 5 years or more


(Bank FD)

C.11
C.12
C.13
D
D.1
D.2

Housing Loan - Principal amount repayment only


Employee's Provident Fund (EPF)
Infrastructure Bonds
Loss from House Property
Residential Status - Self - Occupied / Let-out
Please
write "S"
if thepaid
property
Self Occupied
and "L" if itduring
is Let
Total amount
of for
interest
(post isconstruction
/ possession)
Out
the financial year (April to March )

E
E.1

Other Income Other Income declaration to be accounted for tax calculation

F. PREVIOUS EMPLOYER INCOME DETAILS - FORM 16 or Signed tax computation sheet from the Previous Empl
F.1
F.2
F.3
F.4

Salary paid by the Previous Employer after sec 10 exemptions


Profession Tax deducted by the Previous Employer
Provident Fund deducted by the Previous Employer
Income Tax deducted by the Previous Employer

General Guidelines for documents soft copy


1 Proof must be visible with date and amounts
2 Proof must be self attested
3 Proof must be in pdf form only
4 Proof can be in single pdf for multiple documents but size of individual pdf shall be less than 5 mb
5 Multiple pdfs can be send through single email but size of individual mail shall be less than 5 mb
6 Subject email shall be "Investment and Deduction Proofs for 2015-2016"

Documents / Proofs required

Rent Agreement or Rent paid Receipt with revenue stamp attached and across
signature for Apr to March

PAN Scan copy of Landlord if amount of Rent is more than INR 180,000 per
annum.
Premium Paid Receipts or Premium Paid Consolidated Certificate from
Insurance Company
Premium Paid Receipts or Premium Paid Consolidated Certificate from
Insurance Company
Certificate from Government Hospital Doctor for Disability + Proof of Medical
Expenses
Certificate from Government Hospital Doctor for Disability + Proof of Medical
Expenses
Certificate from Government Hospital Doctor for Disability + Proof of Medical
Expenses
Certificate from Government Hospital Doctor for Disability + Proof of Medical
Expenses
Certificate from Bank/ Financial Institution
Certificate from Government Hospital Doctor for Disability
Certificate from Government Hospital Doctor for Disability
Interest Certificate from Bank
Contribution Paid Receipts / Contribution Summary from Company / Demat
Agent. Annual income is less than Rs. 10 lakhs can invest in this scheme (up to
Rs. 50,000)
Patent registered on or after 01.04.2003 under the Patents Act 1970. A
certificate in the prescribed form duly signed by the prescribed authority.

Premium Paid Receipts or Premium Paid Consolidated Certificate from


Insurance Company
Premium Paid Receipts or Premium Paid Consolidated Certificate from
Insurance Company + Insurance Policy Page having information of Insurance
cover amount
PPF Passbook First page + Last Page + contribution slips
NS Certificates
Receipt of Tuition (fees exclusively for tuition excluding donations & other
fees)
Contribution Paid Receipts / Contribution Summary from Company / Demat
Agent
Premium Paid Receipts or Premium Paid Consolidated Certificate from
Insurance Company + Insurance Policy Page having information of Insurance
cover amount
Contribution Paid Receipts / Contribution Summary from Company / Demat
Agent
FD Receipt
FD Receipt + Interest Certificate from Bank
Certificate of Principal and Interest repayment from the Financial Institution /
Lender applicable for the financial year.
PF Statement

Current Year Certificate of Interest repayment from the Financial Institution /


Bank
(Limited to Rs.200000.00 if for one House Property and unlimited for more
than one Residential House ) . If Housing loan is multiple name then
declaration of second person that he is not claiming or declaration of
deduction for 100% or 50%.

Just declaration of amount is sufficient and no proof required for this.


computation sheet from the Previous Employer along with Form 12B is mandatory
Full and Final Settlement Statement / Tax Sheet signed and stamped by
Employer. If there is no signature on this, please send us the email confirming
the sender.

individual pdf shall be less than 5 mb


ividual mail shall be less than 5 mb

Sec 24

Section 80C

Section 80CCC

Section 80CCD

Section 80E

Section 80 TTA

Section 80CCG

Section 80D

Section 80DD

Section 80DDB

Section 80U

Section 80RRB

General Guidelines for Claiming Deductions from Income tax for Salaried Persons
Deduction - Interest on Housing Loan U/s 24
Interest can be claimed as a deduction under Section 24. You can claim up to Rs. 200,000 or the actual interest re
whichever is lower. (You can claim this interest only when you are in possession of the house)
If you have property which is rented out, you can deduct the full interest paid on the home loan. The rent on the
property does become part of your income.

For two housing loans on two different properties - on your self occupied house you can take advantage of interes
payments up to Rs.2,00,000. For the other property, you can claim actual interest repaid, there is no limit for the
same.

Home loan borrowers are entitled to tax benefits under Section 80C and Section 24 of the Income Tax Act. These c
be claimed by the propertys owner.

In the case of co-owners, all are entitled to tax benefits provided they are co-borrowers for the home loan too. T
limit applies to each co-owner.

A co-owner, who is not a co-borrower, is not entitled to tax benefits. Similarly, a co-borrower, who is not a co-own
cannot claim benefits.

Housing companies usually require all co-owners to be joint borrowers to a home loan. Loan providers specify who
be a joint borrower for a home loan.

The tax benefit is shared by each joint owner in proportion to his share in the home loan. Its important to establ
the share for each co-borrower to claim tax benefits.
The certificate issued by the housing loan company, showing the split between principal and interest for the EMIs
is required for claiming tax benefits.

If you have rented your own house and living in rented place, you can avail tax benefits on both home loan and HR
However the rent received will be counted in taxable income.

If your rented accomodation and location of house related to housing loan is not in the same city you may avail bo
the HRA and Interest on housing loan benefits at your own discretion. Tax authority discrition may differ from you
opinion.

No HRA exemtion if your rented accomodation and residing house is in the same city.
General Deductions
An additional deduction up to a maximum of Rs. 20,000/- will be available from Assessment Year 2011-12 (FY 2010
for investment in Infrastructure Bonds.
1. Life Insurance Premium for individuals. The policy must be in the assesses or spouse's or any child's name.
2. Sum paid under contract for deferred annuity for an individual on the life of the Assessee, spouse or any child.

3. Contribution made under Employee's Provident Fund Scheme.


4. Contribution to PPF for individual can be in the name of the assesses, the spouse or any child. For a HUF, it can
the name of any member of the family.
5. Contribution by employee to a Recognized Provident Fund.
6. Sum deposited in 10/15 year account of Post Office Saving Bank
7. Subscription to any notified savings certificate, Unit Linked Savings certificates. e.g. NSC VIII issue.

8. Contribution to Unit Linked Insurance Plan of LIC Mutual Fund e.g. Dhanrakhsa 1989
9. Contribution to notified deposit scheme/Pension fund set up by the National Housing Scheme.
10. Payments of installments or part payments of loan taken for buying or constructing residential house property
However, if the property is transferred before the expiry of 5 years from the end of the financial year in which
possession of such property is obtained by him, the aggregate amount of deduction of income so allowed for vario
years shall be liable to tax in that year.
11. Contribution to notified annuity Plan of LIC (e.g. Jeevan Dhara) or Units of UTI / notified Mutual Funds.

Note if in case of such contributions the deduction under Section 80CCC has already been availed, the rebate und
Section 88 would not be allowable.

12. Subscription to units of a Mutual Fund notified u/s 10(23D).


13. Tuition fees paid to any school, college, university or other educational institution situated within India for th
purpose of full time education of any two children.
Deduction in respect of Premium Paid for Annuity Plan of LIC or Other Insurer
Payment of premium for annuity plan of LIC or any other insurer Deduction is available up to a maximum of Rs.
100,000/- The premium must be deposited to keep in force a contract for an annuity plan of the LIC or any other
insurer for receiving pension from the fund.

Deduction in respect of Contribution to Pension Account


Deductions to the extent of 10% of one's salary are available on deposits made by a Central government servant in
one's pension account. If the Central Government makes any contribution to the pension account, deduction of su
contribution to the extent of 10% of salary shall be allowed. Further, in any year where any amount is received fro
the pension account such amount shall be charged to tax as income of that previous year.

Remember: The limit for maximum deduction available under Sections 80C, 80CCC and 80CCD (combined togethe
Rs. 1,50,000/- (Rs. one lac fifty thousand only).

Deduction in respect of Interest on Loan for Higher Studies


Deduction in respect of interest on loan taken for pursuing higher education. The deduction is also available for th
purpose of higher education of a relative w.e.f. A.Y. 2008-09.

Deduction from gross total income in respect of any Income by way of Interest on Savings account
Deduction from gross total income of an individual or HUF, up to a maximum of Rs. 10,000/-, in respect of interes
deposits in savings account ( not time deposits ) with a bank, co-operative society or post office,is allowable w.e
1st April 2012 (Assessment Year 2013-14).
Rajiv Gandhi Equity Saving Scheme (RGESS)

The Rajiv Gandhi Equity Saving Scheme (RGESS) was launched after the 2012 Budget. Investors whose annual inco
less than Rs. 10 lakhs can invest in this scheme (up to Rs. 50,000) and get a deduction of 50% of the investment.

So, if you invest Rs. 50,000 (maximum amount eligible for income tax rebate is Rs. 50,000), you can claim a tax
deduction of Rs. 25,000 (50% of Rs. 50,000).

Deduction in respect of Medical Insurance


Deduction is available up to Rs. 30,000/- for senior citizens and up to Rs. 25,000/ in other cases for insurance of s
spouse and dependent children. Additionally, a deduction for insurance of parents (father or mother or both) is
available to the extent of Rs. 30,000/- if parents are senior Citizen and Rs. 25,000/- in other cases.

Deduction in respect of Rehabilitation of Handicapped Dependent Relative


Deduction of Rs. 75,000/- is available on:
1. Expenditure incurred on medical treatment, (including nursing), training and rehabilitation of handicapped
dependent relative.
2. Payment or deposit to specified scheme for maintenance of dependent handicapped relative.

Further, if the dependant is a person with severe disability, a deduction of Rs. 125,000/- is also available under th
section. The handicapped dependent should be a dependent relative suffering from a permanent disability (includ
blindness) or mentally retarded, as certified by a specified physician or psychiatrist.

Note: A person with 'severe disability' means a person with 80% or more of one or more disabilities as outlined in
section 56(4) of the 'Persons with disabilities (Equal opportunities, protection of rights and full participation)' Act.

Deduction in respect of Medical Expenditure on Self or Dependent Relative


A deduction to the extent of Rs. 80,000/- or the amount actually paid, whichever is less is available for expenditu
actually incurred by resident Assessee on himself or dependent relative for medical treatment of specified disease
ailment. The diseases have been specified in Rule 11DD. A certificate in form 10 I is to be furnished by the Assesse
from any Registered Doctor.

Deduction in respect of Person suffering from Physical Disability


Deduction of Rs. 75,000/- to an individual who suffers from a physical disability (including blindness) or mental
retardation. Further, if the individual is a person with severe disability, deduction of Rs. 125,000/- shall be availab
u/s 80U. Certificate should be obtained from a Govt. Doctor. The relevant rule is Rule 11D.

Deduction in respect of any Income by way of Royalty of a Patent


Deduction in respect of any income by way of royalty is respect of a patent registered on or after 01.04.2003 und
Patents Act 1970 shall be available up to Rs. 3 lacs or the income received, whichever is less. The Assessee must b
individual resident of India who is a patentee. The Assessee must furnish a certificate in the prescribed form duly
signed by the prescribed authority.