The Form 12BB is a statement of claims by an employee for deduction of tax. A salaried employee is required to submit the Form 12BB to his or her employee to claim tax benefits or rebate on investments and expenses. Form 12BB has to be submitted at the end of the financial year. Form 12BB applies to all salaried taxpayers. Using Form 12BB, an employee has to declare the investments that they have made during the year. Documentary evidence of these investments and expenses have to be provided at the end of the financial year as well.
Investment declaration has to be made for the following tax-saving investments and expenses:
House rent allowance- Rent to be paid to landlord along with name, address and PAN of the landlord
Leave travel concessions or assistance- Leave travel concession or leave travel allowance as per salary package
Home loan interest - Interest payable to lender along with name, address and PAN of the lender
Deductions under Section 80C, 80CCC, 80CCD and 80D
80C: Premium to be paid for life insurance and/or investments to be made in ELSS funds, PPF, NPS and/or school tuition fees for children, etc
80CCC: Premium to be paid for annuity plan
80CCD: Additional contributions made to NPS
Deductions under other sections like 80E, 80G, 80TTA
80E: Interest to be paid on education loan
80G: Donations to be made to specified organisations
80D: Medical Insurance Premium for self/ family
80DDB: Expenditure on Medical Treatment for specified disease
80DD: Medical Treatment of Handicapped Dependents
80GG: Rent Paid but not in Receipt of HRA
80U: Permanent Physical Disability
Employee can download Form 12BB from Main Panel -> Compensation -> Investment Declaration, click on Form 12BB button (given in page action panel), a new page will open up showing download button (given in page action panel). The file will be downloaded in the .PDF format.