Investment Declaration Form 2022-23
Investment declaration has to be done at the beginning of a financial year. Your employer asks you to declare your tax-saving investments for the year to be able to deduct tax accordingly from your monthly salary. Investment declaration is important for you because it can lead to a higher in-hand salary.
At the beginning of the financial year, you have to just make an estimate of the investments that you intend to make. You don’t need to submit actual proofs until the end of the financial year. You can actually invest less or more. The eventual investments don’t have to be exactly as declared.
Form 12BB is a statement of claims by an employee for deduction of tax. With effect from 1st June 2016, a salaried employee is required to submit Form 12BB to his or her employee to claim tax benefits or rebates on investments and expenses. Form 12BB has to be submitted at the end of the financial year. Form 12BB applies to all salaried taxpayers.
Download the Investment Declaration Form 2022-23 PDF using the link given below.
