Form 12BB for IT declaration?

Ask the Community Income Tax
1

Hi,

Is Form 12BB required for IT declaration?

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2

Yes, From 12BB has to be submitted by the employee.

Salaried employees required no standard format to disclose their investment details to their employers; each employee had to submit proof for each investment made in the year.

To standardize the process across, Form 12BB was introduced, and it is applicable from June 1, 2016, will act as a single entity that employee can use to declare the investments made during the financial year.

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