Hi, Every year salaried employees furnish an investment declaration to their employer in respect of Income Tax Deduction they are eligible under different sections of Income Tax Act along with supporting evidence. New Rule 26C (Income Tax) requiring Evidence for Deductions from Salary in Form 12BB May 2, 2016 Income Tax Kewal Garg The CBDT vide Notification No. 12B [See rule 26A] Form for furnishing details of income under section 192(2) for the year ending 31st March, Name and address of the employee Permanent Account Number or Aadhaar Number . FORM NO. Every December to February, employers ask their employees to submit income tax investment proofs along with LTA/HRA proofs. In Form 12BB, employees need to mention provisional statement about proposed investments they made in current financial year and expenses (which can be deducted in Income tax act). Form 12BB is applicable from June 1, 2016. In a recent notification, income tax department has come up with a new form 12BB, which from now onwards has to be submitted if you want to claim your LTA, HRA and Interest on Home loan interest. If you are employee of any company and going to file income tax return form, you need to fill Form 12BB which is new form announced by Income Tax Department of India for Employees to declare income tax. and submit it to his new employer if he joins a new company as a salaried employee in the middle of a financial year. Leave travel concessions or assistance 3. Sreekanth Reddy says: July 19, 2016 at 6:56 pm. If the landlord doesn’t have the PAN No. How to complete tax-related issues before … House Rent Allowance 2. Form 12BB. orders and to be submitted to employer prior starting new financial year or when she / he joins as an employee to new organization. to his employers. K T Vigneswara Rao. Although RBI has directed banks to remain open on all days till April 1, the March 31 deadline remains sacrosanct for the taxpayers. Earlier there was no standard format for salaried employees in which they … It’s a single form, which you need to fill and attach all proofs and … Form 12BB has to be filled at the beginning of Financial Year (FY). FORM NO. An employee must fill out Form 12B with details such as income from salary, TDS deducted, etc. B. Fillable Forms in Excel. If I open an LIC or PPF at the mid of the FY, how to add it in Form 12BB? Form 12BB in Word Format. b. (Are you not getting rent receipts? It is very important that the individual fill in the correct details in the form. Form 12BB, enables you to figure out how much income tax is to be deducted from your monthly pay. In the first section of Form 12BB, you have to fill the details to claim HRA deduction. Dear Nithiyanantham, I believe that you can submit one more Form 12BB if your employer can accept it. This form is applicable from 1st June, 2016. It is available in a pdf format which has to be printed, duly filled with all the details and then submitted to your current employer. Form 12BB is a standard form introduced by the Central Board of Direct Taxes under new rule 26C of the Income Tax Rules, 2016. Complete break up of salary structure of the previous employer. The first section of Form 12BA: The first part of the form gives details about the employer as well as the employee as shown in the image below. Check out who are eligible to file the ITR3 form. However, Form 12BA gives a detailed statement of fringe benefits, perquisites, profits, etc. Listed below are the details that one has to provide in Form 12b before submitting it to the employer. Here visitors can download sample filled documents of all forms. Form 12BB (Investment Declaration) is an essential document for a salaried person.