This form will act as a single entity that you can use to declare your investments and claim tax deductions under HRA, LTA, Section 80, and interest paid on home loans under Section 24 of the I-T Act.
Since there was no standard format required by salaried employees to disclose their investment details to their employers, each employer had to submit proof for each investment made in the year. The Central Board of Direct Taxes (CBDT) has introduced a new Form 12BB. This form, applicable from June 1, 2016, will act as a single entity that you can use to declare your investments and claim tax deductions under HRA, LTA, Section 80, and interest paid on home loans under Section 24 of the I-T Act.
For more info - Income Tax Returns: All you need to know about form 12BB - The Financial Express
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