As the Tax season is close by many of the Tax payers will be breaking their heads to save taxes. As i always say people should start planning their taxes in the beginning of the financial year than breaking their heads at the last moment and making hasty investments which will make them end up paying more taxes than necessary.
Many of us those who have already made investments are in a dilemma with respect to the documents which they are required to disclose to get the tax exemptions. This article is an attempt to make people aware of the documents which they have to come across to get tax relief.
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Sr.
No.
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Description of
Investment/s
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Documents Required
|
Maximum
Limit
Rs.
|
Amount in Rs.
(to be filled in by the employee)
|
|
1
|
House Rent paid to the Landlord
|
Original Rent Receipts every month (with Revenue Stamp above Rs. 4999/-) or Rent Agreement
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(Monthly Rent Amount)
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2
|
Mediclaim – 80 D
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Mediclaim Policy Copy or Premium Certificate
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15,000/-
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3
|
Mediclaim – 80 D
(Parents)
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Mediclaim Policy Copy or Premium Certificate
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20,000/-
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4
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Interest on Housing Loan Loan taken prior to 01/04/99
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Certificate from Bank / Financial Institution
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30,000/-
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5
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Interest on Housing Loan Loan taken after 01/04/99
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Certificate from Bank / Financial Institution
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1,50,000/-
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6
|
Expenditure on Dependant with – Disability Rs.50,000 – Several Disability Rs. 1,00,000-80-U
|
Certificate from Prescribed Authority in Form No. 10-IA Sec. 80 DD
|
1,00,000/-
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7
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Expenditure on Specified Disease
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Certificate from Prescribed Authority in Form No. 10-I Sec. 80 DDB
|
40,000/-
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Sr.
No.
|
Description of
Investment
|
Documents Required
|
Maximum
Limit
Rs.
|
Amount in Rs.
(to be filled in by the employee)
|
|
1
|
Public Provident Fund
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Copy of Payment Receipt / Passbook
|
70,000/-
w.e.f Dec 1st,2011
100,000
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(Do not write EPF)
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2
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Life Insurance Premium including Pension Plan & ULIP
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Copy of Premium Payment Receipt (proposal receipt will not be considered)
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3
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Repayment of Housing Loan Principal
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Certificate from Bank / Financial Institution
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4
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Mutual Fund (Equity)
(Sec. 10(23D)) |
Statement of Holding
|
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5
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NSC Purchased during the year
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Copy of NSC Certificate/s
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6
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Interest on NSC Purchased
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Statement regarding date of purchase & amount
|
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7
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Tuition Fees
(Up to Two Children)
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Copy of Payment Receipt from School
|
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8
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National Saving Scheme
|
Copy of NSS Certificate/s
|
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9
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Bank Fixed Deposit (More than 5 Years)
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Copy of FD Receipt
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10
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Infrastructure Bond
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Statement of Holding
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(In addition toRs. 1,00,000) 20000/-
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11
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Donation to Registered Trust – 80 G
|
Original Donation Receipts & PAN of Donnie
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12
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Other Investments
Medical Bill Reimbursement
|
Original Medical Bills (including Parents, Wife/Husband, Children)
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1250/- every month
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