Employee misses on giving employer Form 12BB


What happens if employee accidentally forgets to give employer Form 12BB?

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In case Employee forgot to submit form 12BB to your employer within the prescribed time, the employer will not be able to give you benefit of deductions and other tax exemptions. As a result, excess TDS will be deducted from your monthly salary. However, employee can claim refund of such excess TDS while filing your income tax return.