Claim deduction for Tax investment even if proof not submitted to Employer

It is normal that employees need to submit the details of tax investment made to their employers within a time period.  The employers deducts TDS on income based on the tax investment made by the employees and issues Form 16 (Salary certificate) which provides details of salary income of the employee along with the TDS (Tax deducted at Source). Form 16 – Just a certificate There may be a situation wherein the employer due to some reasons, have not submitted the tax investment to their employers, resulting in extra deduction of taxes on their income. We have noted from our experience that there is confusion in the minds of salaried individuals that, if they have not provided the tax investment proofs to their employer, then they can not claim it in their returns. What to do – Claim Deduction

  • Collate all documents, receipts and certificates of the investments made whose deductions has to be claimed as the documents has to be  furnished if the IT department ask for the details.
  • File your return of income claiming all the deductions/ exemptions and refund of the extra TDS deducted within the due date for faster processing of return and quick refunds.
  • Check tax credits and tally the details from Online tax credit statement (Form 26AS) before filing return.

Taxmantra.com provides full fledged comprehensive tax planning service wherein we suggest the best investment and tax saving plans, which would minimize your total tax on income.

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