New form 12BB of income tax appilicable from 1st June, 2016

New Form 12BB

 

This new form declared by the Income-tax Department needs to be submitted to your employer and will be used to declare your investments and claim tax deductions under HRA, LTA, Section 80, interest paid on home loans etc.

 

Earlier there was no standard format to disclose investment details to employers. The Income-tax Department has recently introduced a new Form 12BB. This form, applicable from June 1, 2016, needs to be mandatorily submitted to your employer and will be used to declare your investments and claim tax deductions under HRA, LTA, Section 80, interest paid on home loans etc.

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