CBDT notifies form for deduction claim from Salary by employees

Salaried Employees furnish a deceleration to their employer in respect of Income Tax Deduction they are eligible under various provisions of Income Tax alongwith Supportings. Employers consider these declaration and supporting while calculating TDS to be deducted on Salary of their employees. Although practice of taking such deceleration is in existence from long time but there was no standard format for the same. But now CBDT has vide notification No. 30/2016 prescribed Form No.12BB for the purpose of estimating his income or computing the tax deduction at source wef 01.06.2016.

Related Rules forms and Provisions which are applicable from 1st June 2016 are as follows :-

Income Tax Rule 26C. Furnishing of evidence of claims by employee for deduction of tax under section 192.- (1) The assessee shall furnish to the person responsible for making payment under sub-section (1) of section 192, the evidence or the particulars of the claims referred to in sub-rule (2), in Form No.12BB for the purpose of estimating his income or computing the tax deduction at source.

(2) The assessee shall furnish the evidence or the particulars specified in column (3), of the Table below, of the claim specified in the corresponding entry in column(2) of the said Table:-

Table

Sl. No	Nature of claims	Evidence or particulars
(1)	(2)	(3)
1.	House Rent Allowance.	Name, address and permanent account number of the landlord/landlords where the aggregate rent paid during the previous year exceeds rupees one lakh.
2.	Leave travel concession or assistance.	Evidence of expenditure.
3.	Deduction of interest under the head “Income from house property”.	Name, address and permanent account number of the lender.
4.	Deduction under Chapter VI-A.	Evidence of investment or expenditure.”.

NEWLY INSERTED FORM NO.12BB IS AS FOLLOWS

FORM NO.12BB

(See rule 26C)

Statement showing particulars of claims by an employee for deduction of tax under section 192

1. Name and address of the employee:

2. Permanent Account Number of the employee:

3. Financial year:

Details of claims and evidence thereof
Sl. No.	Nature of claim	Amount(Rs.)	Evidence / particulars
(1)	(2)	(3)	(4)
1.	House Rent Allowance:(i) Rent paid to the landlord (ii) Name of the landlord (iii) Address of the landlord (iv) Permanent Account Number of the landlord Note: Permanent Account Number shall be furnished if the aggregate rent paid during the previous year exceeds one lakh rupees
2.	Leave travel concessions or assistance
3.	Deduction of interest on borrowing:(i) Interest payable/paid to the lender (ii)Name of the lender (iii) Address of the lender (iv) Permanent Account Number of the lender (a) Financial Institutions(if available) (b) Employer(if available) (c) Others
4.	Deduction under Chapter VI-A(A) Section 80C,80CCC and 80CCD (i) Section 80C (a) …………….. (b) …………….. (c) …………….. (d) …………….. (e) …………….. (f) …………….. (g) …………….. (ii) Section 80CCC (iii) Section 80CCD (B) Other sections (e.g. 80E, 80G, 80TTA, etc.) under Chapter VI-A. (i) section………………. (ii) section………………. (iii) section……………… (iv) section………………. (v) section……………….
	Verification
	I,…………………..,son/daughter of……………………….. do hereby certify that the information given above is complete and correct.
	Place………………………………………….
	Date……………………………………………	(Signature of the employee)
	Designation ……………………………….….	Full Name:………………”;