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Income Tax: Documents Required for TDS and HRA Relief

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.

Sr. No.	Description of Investment/s	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		(Monthly Rent Amount)
2	Mediclaim – 80 D	Mediclaim Policy Copy or Premium Certificate	15,000/-
3	Mediclaim – 80 D (Parents)	Mediclaim Policy Copy or Premium Certificate	20,000/-
4	Interest on Housing Loan Loan taken prior to 01/04/99	Certificate from Bank / Financial Institution	30,000/-
5	Interest on Housing Loan Loan taken after 01/04/99	Certificate from Bank / Financial Institution	1,50,000/-
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/-
7	Expenditure on Specified Disease	Certificate from Prescribed Authority in Form No. 10-I Sec. 80 DDB	40,000/-

Sr. No.	Description of Investment	Documents Required	Maximum Limit Rs.	Amount in Rs. (to be filled in by the employee)
1	Public Provident Fund	Copy of Payment Receipt / Passbook	70,000/- w.e.f Dec 1^st,2011 100,000	(Do not write EPF)
2	Life Insurance Premium including Pension Plan & ULIP	Copy of Premium Payment Receipt (proposal receipt will not be considered)
3	Repayment of Housing Loan Principal	Certificate from Bank / Financial Institution
4	Mutual Fund (Equity) (Sec. 10(23D))	Statement of Holding
5	NSC Purchased during the year	Copy of NSC Certificate/s
6	Interest on NSC Purchased	Statement regarding date of purchase & amount
7	Tuition Fees (Up to Two Children)	Copy of Payment Receipt from School
8	National Saving Scheme	Copy of NSS Certificate/s
9	Bank Fixed Deposit (More than 5 Years)	Copy of FD Receipt
10	Infrastructure Bond	Statement of Holding	(In addition toRs. 1,00,000) 20000/-
11	Donation to Registered Trust – 80 G	Original Donation Receipts & PAN of Donnie
12	Other Investments Medical Bill Reimbursement	Original Medical Bills (including Parents, Wife/Husband, Children)	1250/- every month

assuredgain

Promoter & Certified Personal Financial Advisor(CPFA) at AssuredGain Wealth and Financial Planners (P) Ltd, a financial planning and wealth management company in Chennai. I hold certification from “The Options Institute” (Chicago Board Options Exchange). I have also completed NSE’s Certification in Financial Markets (Options Trading Strategies Module) and CMP(Certified Market Professional) from NSE.

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