proof of Deduction u/s 80c
This query is : Resolved
20 April 2010
while giving exemption to employee u/s 80c it is statutory for employer to verify the proof (fees paid to education institute for children)or declaration from employee is sufficient.
20 April 2010
No there should be clear proof of the all investments claimed as deduction u/s 80C.
All this proofs should be verified by the employer. To deduct the tds u/s 192, employer needs to satisfy himself for allowing the deductions.
All this proofs should be verified by the employer. To deduct the tds u/s 192, employer needs to satisfy himself for allowing the deductions.
20 April 2010
No need to statutory verify the proof but employer should get declaration form from employees duly signed by them in a proper manner.
20 April 2010
AGREE DECLARATION FROM EMPLOYEE IN FORM 12B IS SUFFICIENT.
20 April 2010
Form 12 B is needed in a situation wherein the employee had more than on employer in a previous year. Regarding the query the answer lies in clause 5.4(21) of CBDT Circular No.1/2010 dated 11/01/2010 which is reproduced below.
(21) The Drawing and Disbursing Officers should satisfy themselves about the actual deposits/subscriptions/payments made by the employees, by calling for such particulars/information as they deem necessary before allowing the aforesaid deductions. In case the DDO is not satisfied about the genuineness of the employee’s claim regarding any deposit/subscription/payment made by the employee, he should not allow the same, and the employee would be free to claim the deduction/rebate on such amount by filing his return of income and furnishing the necessary proof etc., therewith, to the satisfaction of the Assessing Officer.
(21) The Drawing and Disbursing Officers should satisfy themselves about the actual deposits/subscriptions/payments made by the employees, by calling for such particulars/information as they deem necessary before allowing the aforesaid deductions. In case the DDO is not satisfied about the genuineness of the employee’s claim regarding any deposit/subscription/payment made by the employee, he should not allow the same, and the employee would be free to claim the deduction/rebate on such amount by filing his return of income and furnishing the necessary proof etc., therewith, to the satisfaction of the Assessing Officer.
20 April 2010
agree with Mr. Chackrapani
24 April 2010
I agree with Mr. Chackrapani . My first reply is says so but in simple words........:)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- Bank Accounts in Balance Sheet for ITR 3
- ITR validation error - Balance sheet is not filled
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Eway bill for machinery reparing
- Applicable TDS for Purchase of Flat from NRI
- Form 10BD Filling
- Annual return of gst limit
- TDS ON CASH WITHDRAWALS...
- Taxation in the hands of Landowner under JDA
- Change the gender in the registration of icai
- Lift replacement entries in housing society
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
