Dear Friends,
Every year we circulate the investment declaration forms to our employees. I noticed that some employees are submitting investment declaration forms without proof and are able to provide proofs for only 50% of the declared amount, ie. if someone submits for 150000/- they are able to show for only 75000 in last months the tax revisions are done and heavy tax is deducted.
I want to know whether should we ask employees to submit the investment proofs with declaration or atleast 50% of investment proof of declared amount should be submitted as its not possible that an employee will make investments directly in the last month.
Please guide me how you are doing.
regards,
Ravi
CAclubindia
