Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160322 Points)
Replied 18 January 2023
Form 12BB reveals the investments and expenses you have made or incurred to claim tax exemptions through your employer. Usually, you need to submit Form 12BB in January or February, along with proof of your investment. Based on this information, your employer will compute TDS on your salary. According to Income Tax regulations, you are required to submit this form to your employer if you are a salaried employee in order to receive the tax refund.
As of 1st June 2016, all salaried employees are required to submit their Form 12BB to their employer for the purpose of claiming tax benefits or rebates on investments and expenses.
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