LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Investment declaration form

Srinivas R (Executive -Accounts) (31 Points)

24 September 2015

Dear experts,

Good morning

Could you please explain importation of Investment Declaration form ? how it helps to employer or employee in detail?

Thanks & Regards

Srinivas R

Reply
Follow
Share

4 Replies

Miss Rinkal (Student) (1304 Points)
Replied 24 September 2015

The need for Investment declaration form by the employer from employee is for the sole reason to properly deduct taxes(TDs)( for getting proper deductions ).

And for employee, to get the claim of deductions made in investments eligible for deductions

manish jain (sr associate) (63 Points)
Replied 25 September 2015

As per the requirements of Income Tax Act 1961, the company has to deduct the TDS from the salary of its employees. The employer is required to take the declaration for the investments from the employees in order to deduct the tax accordingly in order to avoid any penalty/interest.

Hope the above find in order.

Regards

Manish Jain

manishjaincfa @ gmail.com