Income Tax Declaration in HR portal
Every employer deducts tax on the salary based on the declarations made by the employee. It is that time of the year where you need to upload the proofs in the HR portal so that the employer can calculate the TDS appropriately. In the absence of proofs declaration, employer may deduct a HIGHER TDS and your take home may be DECREASED for the upcoming months. However, this TDS can be claimed as TAX REFUND by filing income tax returns based on valid proofs available with you. It is always advised to upload all the valid documents upfront so that your in-hand salary is higher and you need not wait for IT refunds from the department. Here is the list of EXPENSES and INVESTMENTS that can be declared for tax purpose: 1) Rent paid to landlord Rental Agreement and PAN if rent declared is between Rs.1-6 lacs per annum. Rental receipts if rent declared is less than Rs.1 lac per annum. Rental Agreement, PAN and copy of TDS return if rent declared...