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All the salaried Persons and pensioners have to submit their Income Tax Final Statements either in February or March 2023 as per the requirements of Income Tax Act and the relevant statue and regulations related with them. Then a significant question arises about the significance of Form No: 12 BB. Following are some of the important aspects related with Form No: 12 BB.

2. As per the section 192(2D) of the Income Tax Act ,relevant DDOs(Drawing and Disbursing Officers) should collect evidences of the claims (claimed by the salaried persons and pensioners) through a Form which is known is Form No.12 BB.

3. Following details are to be included in the Form No.12 BB (Check format of Form 12B below)

FORM NO.12BB

(See rule 26C)

Statement showing particulars of claims by an employee for deduction of tax under section 192

1. Name and address of the employee:

2. Permanent Account Number of the employee:

3. Financial year:

Details of claims and evidence thereof
Sl. No. Nature of claim Amount(Rs.) Evidence / particulars
(1) (2) (3) (4)
1. House Rent Allowance:(i) Rent paid to the landlord

(ii) Name of the landlord

(iii) Address of the landlord

(iv) Permanent Account Number of the landlord

Note: Permanent Account Number shall be furnished if the aggregate rent paid during the previous year exceeds one lakh rupees

2. Leave travel concessions or assistance
3. Deduction of interest on borrowing:(i) Interest payable/paid to the lender

(ii)Name of the lender

(iii) Address of the lender

(iv) Permanent Account Number of the lender

(a) Financial Institutions(if available)

(b) Employer(if available)

(c) Others

4. Deduction under Chapter VI-A(A) Section 80C,80CCC and 80CCD

(i) Section 80C

(a) ……………..

(b) ……………..

(c) ……………..

(d) ……………..

(e) ……………..

(f) ……………..

(g) ……………..

(ii) Section 80CCC

(iii) Section 80CCD

(B) Other sections (e.g. 80E, 80G, 80TTA, etc.) under Chapter VI-A.

(i) section……………….

(ii) section……………….

(iii) section………………

(iv) section……………….

(v) section……………….

Verification
I,…………………..,son/daughter of……………………….. do hereby certify that the information given above is complete and correct.
Place………………………………………….
Date…………………………………………… (Signature of the employee)
Designation ……………………………….…. Full Name:………………”;

4. Employees should submit total amount of deductions and their evidences in Form No: 12 BB to get the benefit of same in estimation of hid TDS on Salary by his employer.

Under the above circumstances Form No: 12 BB is very significant.  

5. Extract of relevant Income Tax Rule 26C is as follows

Furnishing of evidence of claims by employee for deduction of tax under section 192.

26C. (1) The assessee shall furnish to the person responsible for making payment under sub-section (1) of section 192, the evidence or the particulars of the claims referred to in sub-rule (2), in Form No.12BB for the purpose of estimating his income or computing the tax deduction at source.

(2) The assessee shall furnish the evidence or the particulars specified in column (3), of the Table below, of the claim specified in the corresponding entry in column (2) of the said Table:—Table

Sl. No

Nature of claims Evidence or particulars
(1) (2) (3)
1. House Rent Allowance. Name, address and permanent account number of the landlord/landlords where the aggregate rent paid during the previous year exceeds rupees one lakh.
2. Leave travel concession or assistance. Evidence of expenditure.
3. Deduction of interest under the head “Income from house property”. Name, address and permanent account number of the lender.
4. Deduction under Chapter VI-A.

Evidence of investment or expenditure.

 (Source: https://taxguru.in/income-tax/tds-salary-financial-year-2022-23-assessment-year-2023-24.html)

Also Read below post for Format of Form 12BB in word and Excel Format:-

Form No. 12BB for deduction claim from Salary by employees

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