KEY POINTS TO BE REMEMBER – IMPORTANT NOTE:

Please go through the following information and if you find any rejection /remarks under the below
mentioned sections; please take action accordingly.

1. Form 12BB is Mandatory:

As part of the IPSF submission, we informed you that the Form 12BB is mandatory for considering the
Proof. Where ever the signed Form 12BB is not submitted for them we have displayed the disclaimer on
the bottom of IPSF Status report mentioning the below note highlighted in red. Hence, you have to take
action accordingly; otherwise, the entire validated proof will not be considered for Tax Calculation.

“As per our record, you have not submitted the Signed Form 12BB. The signed Form 12BB submission is
mandatory to consider investment details for tax calculation as per IT Rule. Even though the qualifying
investment details status shows as “Approved” in this report, it will not be considered for Tax calculation
unless the signed Form 12BB is submitted. Hence, you are requested to send the signed scanned copy to
info@excelityglobal.com by mentioning your company name, employee id in the body of the email and
subject line as “Form 12BB Signed Copy”.

2. Sec 80 D – Medical Insurance:

We have already considered “Medical Insurance” recovered through salary for tax deduction u/s chapter
VIA and no proof/mentioning of the same in the IPSF Form. This was already mentioned in the guidelines.
Hence, we have indicated in the IPSF status report as proof not attached and rejected. Also we have given
a remarks stating, “Payroll deduction will be considered by Hewitt. No proof required “

3. Children Education Fee:

Only Tuition & Term fees has been approved and Donations, Building Funds, Computer Fess, Sports Fees,
uniforms Fees etc., are disallowed stating the rejection remarks as “Only tution fees considered. Others
rejected as per IT Act.”

4. Late fees / service tax not considered:

On Insurance Premium, late payment charges and service tax will not qualify for the benefit.

5. Possession Letter from Builder/Completion certificate/Future Declaration:

Few of them have not uploaded the above details and this declaration will get generated along with IPSF
covering sheet. Hence, would request you to take the print, sign & send the scan copy by replying to this
email to provide benefit.

6. Notional Rental Income is mandatory for claiming loss from house property (let-out):

If the premises is left vacant / occupied by family, as per Section 23 (1) (c), Notional Rental Income has to
be arrived and then, the net loss has to be arrived

Notional rent can be arrived as per municipal valuation or the rent which similar property in the same
locality would fetch, whichever is higher. However, if standard rent is fixed for the property, then notional
rent cannot exceed the standard rent.
If you have missed out to update rental income in the IPSF, then you can send a request to us for updating
the same. While sending request, the rental income has to be for the entire financial year or till the period
the premises is left vacant.

6. Housing Loan – Self Occupied:

Few of them have submitted the bank statement and this would be bit difficult for us to validate by seeing
the bank statement for the amount that has been debited from your account to loan account. Hence, we
have rejected with the remarks “Bank Statement is not a valid proof, require Provisional certificate from
bank”. Hence, request you to send the scan copy of the provisional certificate for us the give the benefit.

7. Let-out calculation sheet/Form-12C not attached:

Few of them have not uploaded the above details and this declaration will get generated along with IPSF
covering sheet. Hence, would request you to take the print, sign & send the scan copy by replying to this
email to provide benefit.

8. Last year proof and / or declaration not attached to claim deduction for premium due after cutoff
date:

Few of them have not uploaded the above details and future declaration will get generated along with
IPSF covering sheet. Hence, would request you to take the print, sign & send the scan copy by replying to
this email to provide benefit.

9. Form 16 /signed IT Computation Sheet not attached:

Provide soft copy of Form 16/Tax Computation to consider the previous employer details for computing
the tax liability for the financial year by replying to this email.

10. Amount /employee name and other required details are not clear in the document

For few employees, we rejected with the remarks “Amount /employee name and other required details
are not clear in the document” which means the scan copy of the proof is not clear. Hence, would request
you to send us the soft copy for the rejected proof through replying to this email for further approval.

11. Proofs not attached/Submitted:

Few employees are updated the investment details but not uploaded the scan image of the proof.
However, would request you to send the scan copy by replying to this email for consideration.