INVESTMENT DECLARATION SUBMISSION GUIDELINE FOR THE FINANCIAL YEAR 2019-20

Type of Section Details of Benefit Available Documents Required Validation Parameters /

Investment under Guideline
which
benefit is
available
Life Insurance 80C Life Insurance Premium paid for Receipt of premium paid. Payment date should be within
Premium self, spouse & children during In case your premium due date current financial year i.e. 1st April
current year will be eligible for falls after the cut-off date of 2019 to 31st March 2020.
deduction. proof submission - please pay Late payment fees charged will
your premium in advance or not be considered as premium
submit copy of the premium paid.
paid in last financial year (2018- Maximum benefit is available of
19) with a declaration that you 10% of sum assured and that of
will deposit & submit the same 15% in case person with severe
in current financial year. If we disability.
do not receive the said LIP Receipt should be in the name of
Receipt till Cut-off date, we will employee, spouse or children.
remove the benefit & TDS will Policy taken for parents are not
deduct from your Mar 20 Salary. eligible for deduction.
PPF 80C Amount deposited by an Copy of stamped challan & PPF Payment date should be within
individual in his own account or passbook to be produced as current financial year i.e. 1st April
in the account of his/her spouse proof of payment. 2019 to 31st March 2020.
or child. PPF account should be in the
name of employee, spouse or
children. In case of investment in
the name of other than employee,
declaration from employee is
required.

NSC 80C Amount invested in purchases of Copy of certificates. Date of purchase should be within
NSC. current financial year i.e. 1st April
2019 to 31st March 2020.
NSC can be purchased in the name
of employee, spouse or children.
Sukanya 80C Amount deposited in account. Copy of statement or challan Deposit date should be within
Samriddhi along with passbook. current financial year i.e. 1st April
Account 2019 to 31st March 2020.
Scheme Benefit is available for maximum
of two girl child.

Children 80C Tuition fees paid for the financial
Education fees year 2019-20 for the purpose of
(Tuition Fees) full time education with any
university, college, school and
other educational institute in
India will be considered for
deduction. Benefit is available for
maximum of two school going
children per individual.
Copy of fee challan / receipt or
certificate mentioning tuition
fee.
Payment date should be within
current financial year i.e. 1st April
2019 to 31st March 2020.
Only tuition fee is allowed as
deduction, no other fee like
development fee, van charges etc.
will be considered for deduction.
Tuition fees paid to Institution
situated outside India is not
eligible for deduction.
Tuition fees paid for part time
education/courses are not eligible
for deduction.
ULIP 80C Amount invested in ULIP in the Copy of ULIP statement / Payment date should be within
name of self, spouse or children. receipt. current financial year i.e. 1st April
2019 to 31st March 2020.

ELSS / Notified 80C Amount invested in eligible Copy of statement / receipt. Payment date should be within
Mutual Funds mutual fund. current financial year i.e. 1st April
2019 to 31st March 2020.
The mutual fund should be tax
saver mutual fund.
Repayment of 80C Amount paid towards principal Copy of certificate from bank / Amount actually paid during the
Housing Loan repayment of housing loan. financial institution mentioning financial year 2019-20 i.e. 01st
Principal Stamp duty or registration fee the amount paid towards April 2019 to 31st March 2020 are
Amount / paid at the time of registration of principal. eligible for deduction.
Stamp Duty / property is also eligible for The purpose of loan must be
Registration deduction. Copy of sale deed / transfer construction / acquisition or
fee for transfer deed / agreement to sell / renovation of house.
of property registry. The stamp duty or registration
charges incurred in current
financial year only are eligible for
deduction.
Fixed Deposit 80C Amount invested in fixed Copy of receipt / certificate Deposit date should be within
in a Scheduled deposits for a minimum of 5 issued by bank. current financial year i.e. 1st April
Bank years period with any scheduled In case FD is not in the name of 2019 to 31st March 2020.
or nationalized bank. The deposit employee, declaration forms The certificate issued must
can be done in the name of needs to be submitted. contain the lien marking for
employee, spouse or dependent eligible for tax deduction.
children. The period of deposit must be
minimum 5 years.
5-Year Post 80C Amount invested in a post office Copy of passbook. Deposit date should be within
Office in eligible scheme. current financial year i.e. 1st April
Recurring 2019 to 31st March 2020.
Deposit In case of SCSS, employee age The period of deposit must be
Account / Post should be greater than or equal minimum 5 years for RD and TD
Office Time to 60 years. scheme.
Deposit
Account / Post
Office Monthly
Income
Scheme
Account (MIS)
/ Senior Citizen
Savings
Scheme (SCSS)
80CCC 80CCC Amount invested in pension Copy of receipt / statement Deposit date should be within
(Pension policy in the name of employee, In case policy is not in the name current financial year i.e. 1st April
Policy) spouse or dependent children. of employee, declaration forms 2019 to 31st March 2020.
needs to be submitted. Policy should be in the name of
employee, spouse or dependent
children.
National 80 CCD Amount invested in notified Copy of receipt / statement Deposit date should be within
Pension (1B) pension scheme. Maximum In case policy is not in the name current financial year i.e. 1st April
Scheme ( NPS) benefit is available up to Rs. of employee, declaration forms 2019 to 31st March 2020.
U/S 80CCD(1B) 50000 in a year. Benefit is needs to be submitted. Policy should be in the name of
available in addition to 80C. employee, spouse or dependent
children.
Mediclaim 80D Amount paid towards mediclaim Copy of receipt along with Premium paid date should be
Insurance insurance premium for self, policy. within current financial year i.e.
Premium spouse, children and parents. 1st April 2019 to 31st March 2020.
 -For Self, spouse and children up
to Rs. 25000
-Dependent parents (non-senior
citizen) up to Rs. 25000
- Dependent parents (senior
citizen) up to Rs. 50000
- In case of parents being super
senior citizen aged more than 80
years any time during the
previous year can claim medical
expenses up to Rs. 50000.
-Employee can also claim
expenses incurred for preventive
health checkup up to Rs. 5000
which is inclusive in above limits.
Expenditure 80DD Benefit is available if an
incurred on employee has incurred expenses
Medical for medical treatment (including
Treatment of nursing), training & rehabilitation
Handicapped of the differently abled
Dependents. dependent or may have
deposited in a scheme of LIC or
another insurer for maintenance
of the dependent.
Dependent means spouse,
children, parents, brothers &
sisters of the employee.
Disability of the dependent is not
less than 40%.
This benefit is not allowed to
employee if the dependent has
claimed a deduction under
section 80U for himself/herself.
Rs 75,000 where disability is
more than 40% and less than
80%
Rs 1,25,000 where disability is
more than 80%
These deductions are allowed
irrespective of your actual
expenditure.
Medical 80DDB Medical treatment of a
Treatment for dependent who is suffering from
specified a specified disease
illness/diseases
-Neurological Diseases where the
disability level has been certified
to be of 40% and above —
(a) Dementia
(b) Dystonia Musculorum
Deformans
(c) Motor Neuron Disease
(d) Ataxia
(e) Chorea
(f) Hemiballismus
(g) Aphasia
In case of claim for medical Payment mode should be other
expenses, original bills will be than cash.
required.
In case of preventive health
check-up, receipt would be
required from diagnostic centre,
pathology lab.
In case premium is due after
proof submission cut-off date,
either pay the premium in
advance and submit the receipt
or submit last year policy
document along with
declaration to pay the premium
on or before the due date.
Copy of certificate in form 10I The certificate should be valid for
issued by the competent current financial year.
medical authority in a Declaration by dependent for not
Government Hospital, with a claiming benefit by him/her u/s
self-declaration, certifying the % 80U.
of disability of handicapped
dependent.
Further in cases where the
condition of disability is
temporary and requires
reassessment of its extent after
a period stipulated in the
aforesaid certificate, a new
certificate is to be obtained
from the medical authority.
Copy of medical bills towards
expenses incurred in current
financial year.
Followings can be considered as
competent medical authority
A Civil Surgeon or Chief Medical
Officer (CMO) of a government
hospital.
A Neurologist with a Doctor of
Medicine (MD) degree in
Neurology. If it's for a child,
then a Paediatric Neurologist
holding an equivalent degree.
Original Medical bills. Expenses should be incurred
Certificate from competent during current financial year i.e.
medical authority as below: 01st April 2019 to 31st March
-Neurologist having a Doctorate 2020.
of Medicine (D.M.) degree in The certificate must contain the
Neurology or any equivalent following information:
degree, which is recognised by -name and age of the patient
the Medical Council of India -name of the disease or ailment
-Oncologist having a Doctorate -name, address, registration
of Medicine (D.M.) degree in number and the qualification of
Oncology or any equivalent the specialist issuing the
degree which is recognised by prescription
the Medical Council of India -If the patient is receiving the
-any specialist having a post- treatment in a Government
graduate degree in General or hospital, it should also have name
 (h)Parkinsons Disease
-Malignant Cancers
-Full Blown Acquired Immuno-
Deficiency Syndrome (AIDS)
-Chronic Renal failure
-Hematological disorders
(i) Hemophilia
(i) Hemophilia
(ii) Thalassaemia
Amount of deduction
40,000/- or the amount actually
paid, whichever is less.
In case of senior citizen Rs,
1,00,000 or amount actually paid,
whichever is less.
Interest paid 80E Interest paid on education loan
on Education taken for higher education of
loan self, spouse or children.
Additional 80EE Section 80EE allows income
benefit for tax benefits on the interest
interest paid portion of the house property
on housing loan availed from any financial
loan institution. The deduction
allowed under this section is for
the interest paid on a home loan
for up to a maximum of Rs
50,000 per financial year.
Employee can continue to claim
this deduction until the loan is
fully repaid.
Conditions to be Met for
Claiming Deduction
Value of this house should be Rs
50 lakhs or less
Loan taken for this house must
be Rs 35 lakhs or less
The loan must be sanctioned by a
Financial Institution or a Housing
Finance Company
The loan must be sanctioned
between 01.04.2016 to
31.03.2017
As on the date of the sanction of
loan, no other house property
must be owned by employee.
Section 80EE came into effect
from the financial year 2013-14.
It was available for only 2 years,
Internal Medicine, or any
equivalent degree which is
recognised by the Medical
Council of India
-a Nephrologist having a
Doctorate of Medicine(D.M.)
degree in Nephrology or a
Urologist having a Master of
Chirurgiae(M.Ch.) degree in
Urology or any equivalent
degree, which is recognised by
the Medical Council of India
-a specialist having a Doctorate
of Medicine (D.M.) degree in
Hematology or any equivalent
degree, which is recognised by
the Medical Council of India.
Copy of certificate from bank /
financial institution mentioning
type of loan and interest
amount paid during the year.
Certificate from bank specifying
the principal and interest
amount separately.
Copy of possession letter/
completion certificate / sale
deed or self-declaration thereof.
The documents must contain
the following information:
-Loan Sanction date
-Value of property
Declaration from employee for
first time buyer.
and address of the Government
hospital.
Certificate should be of current
financial year.
Certificate must contains year in
which the repayment has started.
Only Interest part to be considered
for deduction.
Deduction is allowed till 8 years
from repayment start date.
The certificate must be for current
financial year.
Loan sanction date must be within
1st April 2016 to 31st March 2017.
Property Value should be equal to
or less than 50 Lacs.
Loan amount must be less than or
equal to Rs. 35 Lacs.
The loan must be taken from
financial institution or housing
finance company.
Declaration must be taken from
employee for being the 1st time
buyer.
 FY 2013-14 and FY 2014-15. The
deduction allowed earlier was
limited to a maximum of Rs 1
lakh in total and was available for
only 2 financial years. However,
this section has been
reintroduced, effective FY 2016-
17 (Assessment Year 2017-18).
Now the deduction is allowed for
up to Rs 50,000 per year, starting
from FY 2016-17 and subsequent
years, until the loan is repaid.

Special Features
-The Section also does not
specify if this house should be
self-occupied to claim the
deduction. Borrowers living in
rented houses can also claim this
deduction.
-Moreover, the deduction can
only be claimed by individuals for
the house purchases jointly or
singly. If a person jointly owns
the house with her wife and they
both are paying the instalments
of the loan, then both of them
can claim this deduction.
-If employees are able to satisfy
the conditions of both Section 24
and Section 80EE, both the
benefits can apply. First, exhaust
limit under section 24 and then
claim the additional benefits
under section 80EE. Therefore,
this deduction is in addition to
the Rs 2 lakh limit under section
24.
Deduction for 80EEA With an objective to provide an Certificate from bank specifying The certificate must be for current
first time home impetus to the ‘Housing for all’ the principal and interest financial year.
buyers initiative of the Government and amount separately. Loan sanction date must be within
to enable the home buyer to Copy of possession letter/ 1st April 2019 to 31st March 2020.
have low-cost funds at his completion certificate / sale Property Value should be equal to
disposal, the Finance (No.2) Act, deed or self-declaration thereof. or less than 45 Lacs.
2019 has inserted a new section The documents must contain The loan must be taken from
80EEA under the Income-tax Act the following information: financial institution or housing
for those individuals who are not -Loan Sanction date finance company.
eligible to claim deduction under -Value of property Declaration must be taken from
section 80EE. An individual can Declaration from employee for employee for not owning any
claim deduction of up to Rs. not owning any house as on other house in his or her name as
1,50,000 under section 80EEA date of loan. on date of loan.
subject to following conditions:

a) Loan should be sanctioned by

the financial institution during
the period beginning on 01-04-
2019 and ending on the 31-03-
2020;
 b) Stamp duty value of residential
house property should not
exceed Rs. 45 lakhs;
c)The assessee should not own
any residential house property
on the date of sanction of loan;
and
d) The assessee should not be
eligible to claim deduction under
section 80EE.
Deduction for The deduction shall be available
Interest on if loan has been sanctioned by
Loan taken to the financial institution during
Buy Electric the period beginning from 01-04-
Vehicles: 2019 and ending 31-03-2023 for
80EEB the purpose of buying an electric
vehicle.
This deduction shall be available
from Assessment Year 2020-21
onwards.
Deduction in 80U Any employee who are any time
respect of during the financial year is
person with certified by the medical authority
disability to be a person with disability can
avail a deduction of Rs. 75000,
however if such individual is
person with severe disability, a
higher deduction of Rs. 125000
can be availed.
HRA 10 (13A) If an employee is paying rent for
accommodation then least of
following is exempt from tax
Actual HRA received
Certificate from bank specifying The certificate must be for current
the interest amount. financial year.
The documents must contain Loan sanction date must be within
the following information: 1st April 2019 to 31st March 2023.
-Loan Sanction date The loan must be taken from
-Type of loan financial institution.
-Details of vehicle purchased. Type of vehicle must be an electric
vehicle.
Copy of certificate in form 10I Certificate provided must be in the
issued by the competent prescribed format (Form 10I)
medical authority in a Certificate must be valid for
Government Hospital, with a current financial year i.e 2019-20.
self-declaration, certifying the % Certificate must contains
of disability of handicapped employee name.
dependent. Certificate must contain the %age
Further in cases where the of disability.
condition of disability is
temporary and requires
reassessment of its extent after
a period stipulated in the
aforesaid certificate, a new
certificate is to be obtained
from the medical authority.
Copy of medical bills towards
expenses incurred in current
financial year.
Followings can be considered as
competent medical authority
A Civil Surgeon or Chief Medical
Officer (CMO) of a government
hospital.
A Neurologist with a Doctor of
Medicine (MD) degree in
Neurology. If it's for a child,
then a Paediatric Neurologist
holding an equivalent degree.
Rent receipt one for each Rent receipt must contain the
quarter. details of landlord, complete
PAN card of landlord if annual address of the house, PAN of
rent is more than 1 Lac. landlord (if applicable).
 Rent Paid minus 10% of Salary
50% or 40% of salary.
Salary here means Basic + DA.
If the location of rented
accommodation is Delhi,
Mumbai, Kolkata or Chennai 50%
of salary or 40% of salary in other
cases shall be exempted.
Interest Paid 24 If an employee is buying a house
on housing with borrowed capital, tax
loan (Income benefit can be availed for
from house interest payable during current
property) financial year subject to
fulfillment of following
conditions.
Loan must be taken for
construction / purchase of house
property
Construction of house is
completed and employee has the
possession / completion
certificate.
Construction or possession must
be completed within 5 years of
Employee is owner or co-owner
of the house.
Deduction limit
Up to Rs. 200000 if
-Loan is taken for purchase or
construction of house.
-Loan is taken after 1st April 1999
-Construction or possession of
property is completed within 5
years of loan disbursement year.
If the receipt is of more than Rs.
5000 paid in cash, revenue stamp
must be affixed (Except Karnataka
state).
Rent receipt should be signed by
the landlord.
In absence of any above
information, rent receipt will not
be considered for tax benefit.
Certificate from bank specifying Certificate should be for current
the principal and interest financial year. i.e 2019-20.
amount separately. Employee name must be
Copy of possession letter/ mentioned on interest certificate
completion certificate / sale and possession letter / completion
deed or self-declaration thereof certificate / sale deed. In can be in
In case of let out property, form of co-borrower or co-owner.
computation of income from
house property.
In case of joint loan, joint loan
declaration signed by other co-
borrower is to be submitted.
In case employee is claiming
pre-construction period
interest, interest certificate for
all past year is required.
Documents submitted must
contain the following
information:
-Name & address of the lender
-PAN of lender.

Up to Rs. 30000 if
-Loan is taken for renovation of
house property.
-Any condition as mentioned
above is not fulfilled.

NOTE
Maximum deduction for interest
paid on Self Occupied house
property is Rs 2 Lakh. For let out
property, there is no upper limit
for claiming interest. However,
the overall loss one can claim
under the head of House
Property is restricted to Rs 2 lakh
only. This Deduction can be
claimed from the year in which
construction of the house is
completed.
 Income Tax Slab for individuals less than 60 years of age and HUF

Income range per annum Tax Rate FY 2019-20, AY 2020-21

Above Rs. 2.5 lakhs to Rs. 5 lakhs 5%

Above Rs. 5 lakhs to Rs. 10 lakhs 20%

Above Rs. 10 lakhs 30%

In case taxable income exceeds Rs. 50 Lakh surcharge will be charged on tax amount as per table below:

Income more than Rs. Income more than Rs.

Income more than Rs. 50 lakh
1 crore but up to Rs. 2 2 crore but up to Rs. 5 Income more than Rs. 5 crore.
but up to Rs. 1 crore
crore crore

10% 15% 25% 37%

Education cess @ 4% of Income tax and surcharge (as the case may be) will be charged irrespective of the taxable income.