Employee submitted all investment proofs and rent receipts to the earlier organisation

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1

Hi,

What if employee has submitted all investment proofs and rent receipts to the earlier organisation? How current employer can take the process further?

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2

Hi Namita,

You should be taking the taxable income as the amount after HRA exemption or before standard deduction.

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  1. For HRA exemptions for the previous company will not be allowed in current company for previous period. HRA exemption will be considered on current company from the date of joining ( Pro rated basis)
  2. If employee submitting the investment proof in current company, employee should specify the income before deducting PF,PT, Standard deductions. Then Previous PF, PT & TDS amount should be updated as a previous employer income in year end period. Also employee has to attach the F & F tax slip to current organization.
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