Index SL.NO.

SECTION 1 10 (13A) 2 10 3 80D 4 80DD 5 80DDB 6 80E 7 80G 8 80U 9 80C 10 80C 11 80C 12 80C 13 80C 14 80C 15 80C 16 80C 17 80C 18 80C 19 80C 20 80C 21 80C 22 80CCC 23 80CCG 24 80TTA 25 24 26 80EE 27 24 28 192 (2) 29 NA 30 206AA

Index COMPONENTS House Rent Allowance Children Education Allowance Medical Insurance Maintenance /Medical treatment of Handicapped dependents Medical Treatment For Specific Diseases Education Loan Interest Benefit Donation To Certain Funds, Charitable Institution Etc. Medical Treatment for Phicially Handicapped PF / VPF / LIC Deduction through salary Life Insurance Premium Public provident fund (PPF) NSC Interest National Savings Certificate (NSC) Fixed Deposit in a Scheduled Bank Unit Linked Insurance Plan Mutual Fund / ELSS Infrastructure Bonds Children Tuition Fees Deposit under Senior Citizens Saving Scheme Five Yr Time Deposit Scheme in Post Office Housing Principle including Registration/ Stamp Duty Pension Policy Rajiv Gandhi Equity Savings Scheme Interest on Savings Bank account Loss on Self-Occupied house property (Housing loan interest) Additional Deduction in respect of housing loan interest for the first house property acquired in FY 13-14 Loss / Income on Let out House Property (Housing loan interest) Previous Employment Details Dependent Details PAN Mandatory for all Salaried Employees

SHORT CUT HRA CEA 80D 80DD 80DDB 80E 80G 80U 80C 80C 80C 80C 80C 80C 80C 80C 80C 80C 80C 80C 80C 80CCC 80CCG 80TTA SELF 80EE LETOUT PREV EMP DEPENDENT PAN

Proof Submission Guidelines for the financial year 2013-14

SECTION COMPONENT PROOF TO BE SUBMITTED TAX BENEFIT FOLLOWING WILL BE DISALLOWED
Photocopies of rent receipts If Loss on self-occupied property is claimed for the same period and same city, then HRA rent is disallowed for the overlapping period Any one month Original Rent Receipts for each Quarter Least of the below is exempt pertaining to current financial year (Apr 13 to Mar 14) for Income Tax: Rent Receipt should contain Actual HRA earned by the Rent paid for the period assessee for the year. Name and signature of landlord Complete address of the property Rent paid minus 10% of Basic salary Revenue stamp to be affixed (Mandatory to the locations other than karnataka) 40% of Basic or 50% of Basic (in case of Metro Employees, who have joined the company in between 10 (13A) the year i.e. after 1st Apr 2013, should submit Rent House Rent Receipt only for the period with the current employer Allowance (from Date of Joining till the proof submission month) If the Rent paid by the employee is less than Rs. 3000/, the attached declaration form may be used to claim HRA Exemption for the period April 13 to March 14 Rent Receipts editable format is available at Hrworkways under My Reports -> Claim Forms -> Rent Receipt. Rent Receipt non editable format is also attached for Update the PAN of Landlord in IPSF (in case rent is > Rs.8,333/- P.M). If Landlord PAN is not available then fill the Declaration Form (as attached) If the Rental Income exceeds Rs. 8,333/- P.M.

Maintenance and electricity charges are not considered. Only actual rent paid will be considered

Declaration f or Rent below Rs. 300

Rent Receipt

Rent Receipt without Landlord Signature If Landlord PAN Declaration is not attached incase of Landlord PAN is not available on the rental income exceeds Rs. 8,333/- P.M, then the HRA exemption will be disallowed.

Note: MAIN MENU Fill the Rent From Date & To Date, city of residence in the column 'City', and the monthly rent paid by you in the column 'Rent paid per month'. In case the residence was being occupied during mid-month or changed during the year, specify the period and the monthly rent paid for the period. For Example: Scenarios From Date To Date City Rent Paid Per Month Full year with same rent (One entry) 4/1/2013 3/31/2014 Bangalore Full year with changes (Multiple Entries) (A) 4/1/2013 6/15/2013 Bangalore (B) 6/16/2013 3/31/2014 Chennai Please write only the monthly rent figure and do not annualize the same. Multiple entries are not required if the rent paid is uniform throughout the year. If you are claiming HRA exemption up to March 2014, please update To Date column as 31/03/2014, irrespective of the month till when you have enclosed rent receipts. For e.g. if you have enclosed rent receipt till December 2013/January 2014 considering the proof cut off date of in January, and wish to claim exemption till March 2014, then the To Date column should essentially reflect as 31/03/2014 in the IPSF.

10000

8000 10000

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Proof Submission Guidelines for the financial year 2013-14

SECTIONCOMPONENT
Children Education Allowance

PROOF TO BE SUBMITTED
Applicable only if employee has children education allowance as part of earnings

TAX BENEFIT
Rs.100/- per month per child, for maximum of two children.

FOLLOWING WILL BE DISALLOWED

10 (14)

Exemption will not be provided, if Additionally, Rs.300/- per month per number of school / hostel going children No Proofs required. Number of school /hostel child if the child / children are in is not updated in IPSF Main screen going children to be updated in IPSF Main screen hostel. Exemption will be prorated from Date to provide necessary exemption of Joining of current employer

MAIN MENU

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Proof Submission Guidelines for the financial year 2013-14

SECTIONCOMPONENT PROOF TO BE SUBMITTED
Photocopy of the receipt and insurance certificate issued by the Insurance Company Receipts should be of the current financial year only (Apr13 Mar14) Receipt / Certificate should specify that benefit eligible u/s 80D (Mediclaim Insurance) (If Parents Medical Insurance is recovered through salary, proof for the same is not required and tax benefit will be given as per the deduction made through salary). Only Premium amount is allowed Preventive heath check up is allowed for In case of premium's falling due the after the proof deduction upto Rs 5,000, within overall cut off date, previous year's receipt should be enclosed before the cut off date. The proof will be undertaken by us and given the option for updating the future payments through IPSF in hrworkways by choosing the option as Future

TAX BENEFIT
Least of the premium paid or amount mentioned below is exempt Limited to Rs.15000/- In case of Individual, Spouse & Children Limited to Rs.30000/- In case of Individual, Spouse, Children and parents below 60 years

FOLLOWING WILL BE DISALLOWED

Deduction through salary for parents in law is not eligible as per IT Act Parents in Law Medical insurance through payroll deduction will not be allowed u/s 80D

80D

Medical Insurance

Limited to Rs.35000/- In case of Late payment charges and service tax will not qualify for the benefit. Individual, Spouse, Children and any one parent above 60 years

MAIN MENU

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Proof Submission Guidelines for the financial year 2013-14

SECTIONCOMPONENT PROOF TO BE SUBMITTED
Photocopy of certificate (Form - 10 IA)issued by the competent medical authority in a Government Hospital specifying the % of disability Self-declaration mentioning amount spent on treatment, training or rehabilitation of the handicapped dependent or receipt of the amount paid Where condition of disability requires reassessment, fresh certificate to be obtained after its expiry to continue claiming the deduction

TAX BENEFIT

FOLLOWING WILL BE DISALLOWED

80DD

Maintenance /Medical treatment of Handicapped dependents

No benefit if disability is < 40% Rs.50000/- if disability is > 40% & <=80% Rs.100000/- if disability is >80%

Form 10 IA will not be considered, if the expiry date is before 01-Apr-2013. Handicapped dependant in his individual returns should ensure that he is not claiming the benefit u/s 80U.

MAIN MENU
Form 10-IA. pdf

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Proof Submission Guidelines for the financial year 2013-14

SECTIONCOMPONENT PROOF TO BE SUBMITTED TAX BENEFIT
Submit a certificate in form 10I,from a neurologist, Oncologist,Urologist, Haematologist, Immunologist or other specialist as as mentioned in Rule 11DD. Applicable for the assessee or their dependant husband/wife,,children, parents, brothers and sisters of the tax payer. Rs.40000/- for his assessee or dependant, and in case of senior citizen Rs.60000/- or actual expenditure whichever is lower. Further the deduction amount will be reduced from the amount recovered from the insurer or from the employer

80DDB

Deduction in respect of Medical Treatment

MAIN MENU
Form 10I_80DDB.pdf

nancial year 2013-14

FOLLOWING WILL BE DISALLOWED
Form 10-I will not be considered, if the expiry date is before 01-Apr-2013. Actual expenditure bills also to be supported/submitted to claim the benefit along with the form 10-I

Proof Submission Guidelines for the financial year 2013-14

SECTIONCOMPONENT PROOF TO BE SUBMITTED
Eligible if loan is availed by the employee for self, spouse or children for pursuing higher education on or after 01-Apr-2006 Provisional certificate pertaining to current financial Education year only (Apr 13 Mar 14) from the Bank / Financial Loan Interest Institution specifying the following: Said loan is an Educational Loan and qualify for benefit Benefit u/s 80E Break up of principle and interest paid on the loan in the current financial year (Apr13Mar14) Interest paid for the first 8 years on loans taken for Higher Education such as Engineering / Medical etc

TAX BENEFIT

FOLLOWING WILL BE DISALLOWED

No capping of maximum limit Certificate of payment due cannot be considered as proof of payment. Actual interest paid by the employee during the financial year is allowed in full as deduction

80E

MAIN MENU

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Proof Submission Guidelines for the financial year 2013-14

SECTIONCOMPONENTPROOF TO BE SUBMITTED
80G Donation To Employer would not provide the benefit, since Certain assessee needs to claim while filing his/her Funds, return Charitable

TAX BENEFIT
Assessee needs to claim benefit while filing his/her individual returns.

FOLLOWING WILL BE DISALLOWED

Do not attach any proofs and will not be returned back in case of proofs attached.

MAIN MENU

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Proof Submission Guidelines for the financial year 2013-14

SECTIONCOMPONENT PROOF TO BE SUBMITTED TAX BENEFIT
No benefit if disability is < 40% Rs.50000/- if disability is > 40% & <=80% Rs.100000/- if disability is >80%

FOLLOWING WILL BE DISALLOWED

80U

Photocopy of certificate (Form - 10 IA)issued Medical Treatment by the competent medical authority in a Government Hospital specifying the % of for Phicially Where condition of disability requires Handicapped-Only reassessment, fresh certificate to be obtained Self after its expiry, to continue claiming the deduction.

Form 10 IA will not be considered, if the expiry date is before 01-Apr-2013

MAIN MENU
Form 10-IA. pdf

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Proof Submission Guidelines for the financial year 2013-14

SECTIONCOMPONENT PROOF TO BE SUBMITTED
80C PF / VPF Deduction through salary PF & VPF deduction through payroll will be considered directly for deduction u/s 80C. No proof required for the same. Photocopy of receipts issued by the Insurance Company, pertaining to current financial year (Apr 13 Mar 14) Policy can be from any approved company by IRDA(Insurance Regulatory & Development Authority) 80C Life Insurance Premium Policy can be in the name of individual, spouse and children Policy should specify that benefit eligible u/s 80C In case of premium's falling due after the proof cut off date, previous year's receipt should be enclosed before the cut off date. The proof will be undertaken by us and given the option for updating the future payments through IPSF in hrworkways by choosing the option as Future from the drop down. Photocopy of stamped challan or PPF passbook

TAX BENEFIT

FOLLOWING WILL BE DISALLOWED

Do not attach payslips or Tax computation Maximum deduction is allowed sheets as proof. since the same will be under Sec-80C (including 80CCC) is picked from salary deductions automatically Rs.100000/for tax calculations. Late payment fees will not be considered

Policy for parents are disallowed Maximum deduction is allowed under Sec-80C (including 80CCC) is Rs.100000/Future period benefits will not be provided, if declaration / previous year receipts is not submitted Maximum deduction is allowed under this scheme is Rs.100000/per PPF Account Maximum deduction is allowed under Sec-80C (including 80CCC) is Rs.100000/NSC Interest declared will also be accounted as Other Income and taxed

80C

80C

Public Provident fund should be in the name of individual Receipts should be of the current financial year only (Apr13 Mar14) Photocopy of all the certificates for which interest is being claimed. NSC certificate should have been taken on or after 01-Apr-2008 NSC Interest NSC Certificate should be in the name of individual (Self only) Calculation of Interest is mandatory as per the NSC interest calculation table given along with the IPSF

Public provident fund (PPF)

Counterfoil alone does not constitute as proof. Passbook is mandatory Current year certificates do not qualify for interest benefit. Should be submitted under NSC Certificates in the name of spouse, children and parents are disallowed

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Proof Submission Guidelines for the financial year 2013-14

SECTIONCOMPONENT PROOF TO BE SUBMITTED
80C National Savings Certificate (NSC) Fixed Deposit in a Scheduled Bank

TAX BENEFIT

FOLLOWING WILL BE DISALLOWED

Previous year certificates do not qualify. Should be submitted against NSC Interest only Certificates in the name of spouse, children and parents are disallowed Certificates in the name of spouse, children and parents are disallowed

Photocopy of receipts / certificates pertaining to current financial year Maximum deduction is allowed only (Apr 13 Mar 14) under Sec-80C (including 80CCC) is Rs.100000/NSC Certificate should be in the name of individual (Self only) Photocopy of the certificate / bond issued by the scheduled bank should be of the current financial year only (Apr 13 Mar 14) Term deposits for a minimum period of 5 years with a scheduled bank are eligible for deduction Policy should specify that benefit eligible u/s 80C. If not specified, letter from the bank specifying the eligibility u/s 80C is required Certificate should be in the name of individual (Self only) Photocopy of Receipts / Statements pertaining to current financial year only (Apr13 Mar14) Receipt can be in the name of individual, spouse and children Policy should specify that benefit eligible u/s 80C Declaration for future months to be submitted Photocopy of Receipts / Statements pertaining to current financial year only (Apr13 Mar14)- Specified funds only Receipt should be in the name of individual (Self only) Policy should specify that benefit eligible u/s 80C Declaration for future months to be submitted Photocopy of Receipts / Bond pertaining to current financial year only (Apr13 Mar14) Bond should be in the name of individual (Self only) Term should be > = 3 years Receipt / Bond should specify that benefit eligible u/s 80C Photocopy of Receipts for tuition fees paid, pertaining to current financial year only (Apr13 Mar14) Photocopy of Receipts for term fees paid, pertaining to current financial year only (Apr13 Mar14) Only amount mentioned as Tuition Fee in the fee receipt will be considered for deduction An individual is allowed to claim a deduction up to Rs.1,00,000/- in respect of tuition fees paid to any university, college, school or other educational institution situated in India, for the purpose of full-time education of any two children of the employee. The Circular clarifies that full-time education includes any educational course offered by any university, college, school or other educational institution to a student who is enrolled full-time for the said course. It is also clarified that full-time education includes play-school activities, pre-nursery and nursery classes. Option given for updating the future payments through IPSF in

80C

Maximum deduction is allowed under Sec-80C (including 80CCC) is Payment Receipts or copy of cheque alone does not constitute as proof. Photocopy of Rs.100000/certificate / bond is mandatory

80C

Unit Linked Insurance Plan

Maximum deduction is allowed Future period benefits will not be provided, under Sec-80C (including 80CCC) is if declaration is not submitted Rs.100000/Certificates in the name of spouse, children Maximum deduction is allowed and parents are disallowed under Sec-80C (including 80CCC) is Future period benefits will not be provided, Rs.100000/if declaration is not submitted Certificates in the name of spouse, children Maximum deduction is allowed and parents are disallowed under Sec-80C (including 80CCC) is Term less than 3 years is not eligible for Rs.100000/benefit Donations, Capitation fees, Computer fees, Uniform fee, Sports fee etc., are not allowed

80C

Mutual Fund / ELSS

80C

Infrastructure Bonds

80C

Children Tuition Fees

Maximum deduction is allowed under Sec-80C (including 80CCC) is Rs.100000/Future period benefits will not be provided, if future declaration is not submitted

80C

80C

Deposit under Senior Citizens Saving Scheme Five Yr Time Deposit Scheme in Post Office

80C

hrworkways by choosing the option as Future from the drop down. Declaration for future months to be submitted Eligible only if the employee is a Sr. Citizen. Sr.Citizen is >= 65 years, as per Income Tax Act Bond should be of the current financial year only (Apr13 Mar14) Policy should specify that benefit eligible u/s senior citizen saving scheme Copy of the Receipt/certificate issued by the Post office Certificate should be in the name of individual (Self only) Time deposit for a period of 5 years with a post office is eligible for deduction. Provisional certificate pertaining to current financial year (Apr 13 Mar 14) with breakup of interest and principle from the Housing Housing Finance Company / Bank. Principle In case of Joint loan, declaration specifying the % of benefit claimed including by the individual Registration/ Housing loan principle deduction through payroll will be considered. Stamp Duty No proof required Photocopy of Sale Deed and Stamp Duty Paid Receipt pertaining to current financial year (Apr 13 Mar 14)

Maximum deduction is allowed Bonds in the name of spouse / children under Sec-80C (including 80CCC) is disallowed Rs.100000/Maximum deduction is allowed Certificates in the name of spouse, children under Sec-80C (including 80CCC) is and parents are disallowed Rs.100000/-

Maximum deduction is allowed Bank statement showing only EMI under Sec-80C (including 80CCC) is deduction will be disallowed Rs.100000/-

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Proof Submission Guidelines for the financial year 2013-14

SECTIONCOMPONENT PROOF TO BE SUBMITTED TAX BENEFIT FOLLOWING WILL BE DISALLOWED

MAIN MENU

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Proof Submission Guidelines for the financial year 2013-14

SECTIONCOMPONENT PROOF TO BE SUBMITTED
Photocopy of receipts issued by the Insurance Company, pertaining to current financial year (Apr 13 Mar 14) Policy can be from any approved company by IRDA(Insurance Regulatory & Development Authority) Policy can be in the name of individual, spouse and children Policy should specify that benefit eligible u/s 80CCC (Pension) In case of premium's falling due after the proof cut off date, previous year's receipt should be enclosed before the cut off date. The proof will be undertaken by us and given the option for updating the future payments through IPSF in hrworkways by choosing the option as

TAX BENEFIT

FOLLOWING WILL BE DISALLOWED

Late payment fees will not be considered Policy for parents are disallowed

80CCC

Pension Policy

Maximum deduction is allowed under Sec-80C (including 80CCC) is Rs.100000/-

Future period benefits will not be provided, if declaration / previous year receipts is not submitted

MAIN MENU

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Proof Submission Guidelines for the financial year 2013-14

SECTIONCOMPONENT PROOF TO BE SUBMITTED
Copies of A&B A. The Demat account with the details of investments made in 1.Shares given under BSE100 2.Shares given in CNX100 3.Shares of Navratnas, Maharatnas and Miniratnas companies Rajiv Gandhi 4.Follow on public offers of above companies 5.IPO(intial public offers) of PSUs. Equity 6.Mutual funds who has invested in above five type of shares Savings shown above. Scheme 7.ETF (exchange traded funds ) invested money only in 1-5 sr number shown above, B. Copy of Form A - declaration to be submitted by depository participant, or copy of Form B -declaration to be submitted by the new retail investor. Amount of deduction is at 50% of amount invested in equity shares. However, the amount of deduction under this provision cannot exceed Rs. 25,000 The assessee is a new retail investor - a) any individual who has not opened a demat account and has not made any transactions in the derivative segment as on the date of notification of the Scheme; (b) any individual who has opened a demat account before the notification of the Scheme but has not made any transactions in the equity segment or the derivative segment till the date of notification of the Scheme,

TAX BENEFIT

FOLLOWING WILL BE DISALLOWED

Tax Benefit will not be extended, If the gross total income exceeds Rs. 12 lakhs; Investment made in companies other the the listed.

80CCG

MAIN MENU

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Proof Submission Guidelines for the financial year 2013-14

SECTIONCOMPONENT PROOF TO BE SUBMITTED
Self-declaration from the employee mentioning the Interest on total interest earned only from the savings account Savings Bank during the FY Apr 13 Mar 14. account 80TTA Maximum deduction is allowed under Sec-80TTA is Rs.10,000/Interest from savings account declared will also be accounted as Other Income

TAX BENEFIT

FOLLOWING WILL BE DISALLOWED

Interest from non savings account will be disallowed Interest from Fixed Deposit will be disallowed

MAIN MENU
Note: New Section has been added from FY 2012-13 onwards. Refer the attached IT extract for your reference.

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Proof Submission Guidelines for the financial year 2013-14

SECTIONCOMPONENT PROOF TO BE SUBMITTED
Provisional certificate pertaining to current financial year (Apr 13 Mar 14) with breakup of interest and principle from the Housing Finance Company / Bank. In case of Joint loan, declaration specifying the % of benefit claimed by the individual 24 Loss on SelfOccupied house property (Housing loan interest) Housing loan interest deduction through payroll will be considered. No proof required Possession Letter from Builder / Completion certificate from Municipal authority required, if possession is after proof cut-off date Possession Letter from Builder or through self declaration from the employee is mandatory as per IT circular no 8/2012, dated 5th October 2012.

TAX BENEFIT
Capped to a maximum of Rs.150000/only i.e. Total amount allowed for a property is Rs.150000/-.

FOLLOWING WILL BE DISALLOWED

If Self-occupied benefit and HRA is claimed for the same period, in the same city, then HRA benefit is Loan taken before 01/04/1999, interest disallowed for the overlapping period restricted to Rs.30000/Housing Loan interest taken for Bank statement showing only EMI renovation/repairs restricted to deduction will be disallowed Rs.30000/If property is not occupied within 3 Interest benefit cannot be claimed, years of loan sanction date, benefit is unless the property is in possession on restricted to Rs.30000/or before 31-Mar-2014. Pre-EMI interest (EMI paid before Only one self occupied property is occupation of the house) is deductible considered for tax benefit on interest in 5 equal installments starting from the paid. If multiple properties, claim only year when the construction is one under self-occupied and the rest completed or property is acquired. under let-out

MAIN MENU

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Proof Submission Guidelines for the financial

SECTIONCOMPONENT

80EE

Additional Deduction in respect of housing loan interest for the first house property acquired in FY 1314

MAIN MENU

Proof Submission Guidelines for the financial year 2013-14

PROOF TO BE SUBMITTED
The deduction shall be subject to the following conditions: 1. The loan is sanctioned by the financial institution during the period beginning on April 1, 2013 and ending on March 31, 2014. 2. The amount of loan sanctioned for acquisition of the residential house property does not exceed 25 lakh rupees; 3. The value of the residential house property does not exceed 40 lakh rupees; 4. The assessee does not own any residential house property on the date of sanction of the loan. certificate pertaining to current financial year (Apr 13 Mar 14) with Provisional breakup of interest and principle from the Housing Finance Company / Bank. In case of Joint loan, declaration specifying the % of benefit claimed by the individual Maximum deduction allowed under Sec-80EE is Rs.100000/-

TAX BENEFIT

Housing loan interest deduction through payroll will be considered. No proof required

Declaration from the employee that he does not own any other residential house property on the date of sanction of the loan (Format will be shared once it is finalized) Possession Letter from Builder / Completion certificate from Municipal authority required, if possession is after proof cut-off date Possession Letter from Builder or through self declaration from the employee is mandatory as per IT circular no 8/2012, dated 5th October 2012.

13-14
FOLLOWING WILL BE DISALLOWED
If Self-occupied benefit and HRA is claimed for the same period, in the same city, then HRA benefit is disallowed for the overlapping period

Bank statement showing only EMI deduction will be disallowed Interest benefit cannot be claimed, unless the property is in possession on or before 31-Mar2014. Additional benefit on Interest would not be provided if Declaration is not submitted towards Sec 80EE

Proof Submission Guidelines for the financial year 2013-14

SECTIONCOMPONENT PROOF TO BE SUBMITTED
Provisional certificate pertaining to current financial year (Apr 13 Mar 14) with breakup of interest and principle from the Housing Finance Company / Bank. In case of Joint loan, declaration specifying the % of benefit claimed by the individual Loss / Income Form 12C or Computation of Loss / Income as per rule on Let out is mandatory. Template available on IPSF Online House calculations Property If the premises is left vacant / occupied by family, as per (Housing loan Section23 (1) (c), Notional Rental Income has to be arrived and then, the net loss has to be arrived. interest) Notional rent to be taken as municipal valuation or the rent which similar property in the same locality would fetch, whichever is higher. However, if standard rent is fixed for the property, then notional rent cannot exceed the standard rent

TAX BENEFIT
No cap on maximum amount

FOLLOWING WILL BE DISALLOWED

Bank statement showing only EMI deduction will be disallowed

24

If the loan is availed for house renovation purpose, Interest benefit cannot be claimed, unless the then the benefit would be property is in possession on or before 31-Marrestricted to Rs.30,000/- per 2014 annum

Loan taken before 01/04/1999, interest restricted to Rs.30000/-

Computation of net loss without considering Notional Rental Income will be disallowed

MAIN MENU

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Proof Submission Guidelines for the financial year 2013-14

Page 24 of 30

Proof Submission Guidelines for the financial year 2013-14 Previous Employment Details
Who is eligible? Employees who has worked in any other company before joining the current company, within the financial year (Apr 13 Mar 14) and whose Date of Joining st is after 1 April 2013. What is considered as Previous Employer Income? The Income after Sec 10 exemption is considered as Previous Employer Income. This includes all earnings earned till the Date of leaving for the current financial year (From Apr 12 onwards) including perquisites after deducting section 10 exemptions. What is the procedure for Inter Entity Transfer? Employee's who are transferred from HP GDIC/HP Global Soft to other HP entities like (HP India Sales, HP ISO, HP Global e & HP Financials) vice versa for other HP entities in the current FY: 2013-14, then no need to provide Previous Employment details (i.e., Form 16/ Tax computation Sheet). Aon Hewitt will take care of the same, but investments like (Housing Loan Interest/Principle, Chapter VIA Deductions and u/s 80C proofs) will have to be re-submitted in the current entity along with the IPSF covering sheet. Proof to be submitted: 1. Photocopy of Form 16 or Tax computation sheet, affixed with seal & signature or Digital Signature from the previous employer along with a declaration in Form 12B.

2. The Income after Sec 10 exemption, Professional Tax / Provident Fund/ VPF and Income tax deducted, will be considered along with the current employment income, to arrive at net tax liability for the year 2013-2014. 3. Where the previous employer has granted Deductions for Investments made, including Housing Loan interest deduction / Other Income reported proofs will have to be re-submitted to the current employer along with the IPSF. Tax Treatment: Previous employment income, as per supporting, will be accounted for computing the tax liability for the year. While generating the Form16, the previous employment details will be removed. This treatment is supported by the below circular from the IT department. You are expected to consolidate multiple employment details, while filing your individual returns As per circular F.No.SW/09/03/2002-DIT(S)-798 dated 13/4/04 issued by the Directorate of Income Tax (Systems) Section 192(2) of Income Tax Act, 1961 allows an employee who had more than one employer in financial year to furnish details of his salaries and TDS from the first employer in Form 12B(supported by relevant proofs) to the second employer for the purpose of deduction of correct tax at source by the second employer. The relevant provisions required that in such a case, the second employer may deduct tax at source at a lower rate and enclose Form 12B with his TDS returns. At present, in the TDS return for salary i.e. Form No.24, there is no column for furnishing of particulars of salary received/tax deducted by the previous employer. Previously, the deductors used to furnish these details as a footnote in the TDS return. However, this cannot be done in electronic TDS return, as data structure does not support provision of any footnote.The matter was referred to the CBDT. The CBDT has clarified that such problems can be resolved as under; In cases of employees with more than one employer in a financial year, the deductor need to disclose only the salary paid and TDS made by him in the Form 24 being filed by him. In case this amounts to deduction at a lower rate, then he can mention the words "12B' in the Remarks column of Form 24; and The circular clearly states that only current employers income and tax details should be shown in Form 24. Since Form 24 is an aggregation of Form 16s issued, Form 16 will display only the current employers income and tax. However, while computing the tax liability for the full year, the previous employment income and tax will be accounted for. The same practice was followed since FY 2005-06. Following will be disallowed: 1) Only Form 12B submitted will not be considered 2) Only payslips will not be considered

5) Previous year Tax computation will not be 3) Tax computation with projections will not be considered considered 4) Tax computations of the current year only will be considered

Note: 1. Do not attach any original Form 16 and will not be returned back in case of attached. 2. Basis information updated as applicable for Previous Employer Details, Form 12B annexure will get generated along with IPSF.

MAIN MENU

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Section BChapter VI A 1 Medical Insurance 2 Medical Treatment for Handicapped Dependent 3 Medical Treatment for Specified Disease 4 Interest on Education Loan Additional Deduction in respect of housing loan interest 5 for the first house property acquired in FY 13-14 6 Donations to Certain Funds, Charitable Institution etc., 7 Permanent Physical Disability including Blindness Section CSection 80C/80CCE/80TTA 8 Provident Fund - PF 9 Voluntary Provident Fund - VPF 10 Life Insurance - LIC 11 Public Provident Fund - PPF 12 National Savings Certificate - NSC 13 Infrastructure Bonds - IBOND 14 Tution Fees - TF 15 Mutual Fund - MF 16 Equity Linked Savings Scheme - ELSS 17 Unit Linked Insurance Plan - ULIP 18 5-Yr bank fixed deposits (FDs) 19 Senior Citizen Savings Scheme 2004 (SCSS) 20 5-Yr post office time deposit (POTD) scheme 21 NABARD rural bonds 22 Interest on NSC 23 Stamp Duty & Registration Charges 24 Home Loan Principal Repayment 25 Pension Policy - 80CCC 26 Rajiv Gandhi Equity Savings Scheme 27 Interest on Savings Bank account - 80TTA Section DHousing Loan Details 28 Self Occupied Property 29 Let Out Property MAIN MENU

SECTION 80D 80DD 80DDB 80E 80EE 80G 80U SECTION 80C 80C 80C 80C 80C 80C 80C 80C 80C 80C 80C 80C 80C 80C 80C 80C 80C 80CCC 80CCG 80TTA SECTION 24 24

Dependents Eligible for Tax Benefit Individual, Spouse, Children & Parents Individual, Spouse, Children, Parents, Dependant Brothers & Sisters Individual, Spouse, Children, Parents, Dependant Brothers & Sisters Individual, Spouse & Children Individual Individual Individual Dependents Eligible for Tax Benefit Individual Individual Individual, Spouse & Children Individual Individual Individual Upto 2 Children of an individual Individual Individual Individual, Spouse & Children Individual Individual Individual Individual Individual Individual Individual Individual, Spouse & Children Individual Individual Dependents Eligible for Tax Benefit Individual Individual

Proof Submission Guidelines for the financial year 2013-14

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Proof Submission Guidelines for the financial year 2013-14 Permanent Account Number (PAN) mandatory for Salaried Employees
What is PAN? Permanent Account Number (PAN) is a ten-digit alphanumeric identifier, issued by the Income Tax Department. Each assessee (e.g. individual, firm, company etc.) is issued a unique PAN. Is it compulsory to quote PAN in Hewitt Website? Yes, it is compulsory to quote PAN in Hewitt Website, otherwise your Tax will be deducted on higher rate @ 20% (or at actual, which ever is higher). What could be the possible consequences for not updating the employer with the PAN? The Tax deductors are advised to obtain the correct PAN for all deductees, and quote the same in their TDS / TCS returns. Deductees are also advised to furnish their correct PAN with their deductors, failing which, they will not only have difficulty in getting credit of TDS/TCS in their income tax assessments, but will also face penal proceedings under the Income Tax Act. (Deductors Employer, Deductee Employee) I do not have a PAN; how do I apply for a new PAN card? If you dont have a PAN, you can seek the help of and write to Ms.Spearhead Service Private Limited at admin@spearglobal.com . This agency will help you in applying for a new PAN at the earliest, with a nominal fee. Though the employer recommends this agency, any issues in receiving the PAN through them should directly be dealt with, between the agency and the employee. You also have the option of choosing other service providers you are familiar with. Is there any online facility to apply for a new PAN? The procedure for obtaining PAN is simple, inexpensive and quick. Application for PAN can be filed in Form 49A to National Securities Depository Ltd. (NSDL) or Unit Trust of India Investor Services Ltd. (UTIISL) or their intermediaries. Non-residents can apply through the local embassy / consulate of India. Applications can also be filed, paid for or tracked online through the Internet on the following web-sites:http://incometaxindia.gov.in/ https://incometaxindiaefiling.gov.in/portal/index.jsp http://www.tin-nsdl.com/ http://www.utitsl.co.in/ Can I obtain or use more than one PAN? Obtaining/possessing more than one PAN is against the law and may attract a penalty upto Rs.10,000. Therefore, it is advisable not to obtain/possess more than one PAN. If you have more than one PAN, you should surrender the unused PAN by logging on to www.incometaxindia.gov.in. Is it compulsory to quote PAN in Hewitt Website? Follow these simple steps for your PAN verification, once logged on to the Hewitt website. Cross verify the PAN with the your PAN Card Check if the PAN is a 10 digit alphanumeric identifier The 4th character should be always "P" for Individual (Salaried employees) First 5 & the 10th character of your PAN should be alphabets The 6th to 9th characters are always numeric What is the deadline to update/correct the PAN in Hewitt website (Hrworkwaysindia)? The PAN link will be enabled from 1st to 21st of every month. We request you to log on to http://hrworkwaysIndia.com , and update the correct PAN How should I update the PAN on Hewitt website? Follow the simple steps for updating the PAN on hrworkways: 1. Logon to the https://www.hrworkwaysindia.com with your existing Pin & Password. 2. Left hand side you will come across a menu called My Personal Details under that you need to select Update PAN 3. On selecting Update PANlink, you can submit your correct PAN As per Finance Act (No. 2) 2009, w.e.f. 01/04/2010 has inserted sec. 206AA

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Proof Submission Guidelines for the financial year 2013-14

Finance Act (No. 2) 2009, w.e.f. 01/04/2010 has inserted sec. 206AA in the Income-tax Act which makes furnishing of PAN by the employee compulsory in case of payments liable to TDS. If employee (deductee) fails to furnish his/her PAN to the deductor, the deductor shall make TDS at a higher of the following rates i. at the rate specified in the relevant provision of this Act; or ii.at the rate or rates in force; or iii. at the rate of twenty per cent. The deductor has to determine the tax amount in all the three conditions and apply the higher rate of TDS . This section applies to any person entitled to receive any sum or income or amount, on which tax is deductible under Chapter XVII-B of Income Tax Act. As chapter XVII-B covers all Payments including Salaries, Salaries are also covered by Section 206AA. In case of salaries there can be following situations. Tax Treatment if PAN is not furnished to the employer: Where the income of the employee computed for TDS u/s 192 is below taxable limit. Where the income of the employee computed for TDS u/s 192 is above taxable limit. In first situation, as the tax is not liable to be deducted no tax will be deducted. In the second case, if PAN is not furnished by the employee, the deductor will calculate the average rate of income-tax based on rates in force as provided in sec 192. If the tax so calculated is below 20%, deduction of tax will be made at the rate of 20% and in case the average rate exceeds 20%, tax is to deducted at the average rate. Education cess@ 2% and Secondary and Higher Education Cess @ 1 % is not to be deducted, in case the TDS is deducted at 20% u/s 206AA of the Income-tax Act. Where will I get the more information on PAN & required detailed FAQ? Logon to the http://www.incometaxindia.gov.in/home.asp Attached is the detailed FAQ which is extraced from the Incometax website for your reference.
FAQ on PAN.pdf

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