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WT IT - Declarations - Guidelines - FY - 2019-20 PDF
WT IT - Declarations - Guidelines - FY - 2019-20 PDF
WT IT - Declarations - Guidelines - FY - 2019-20 PDF
– FY 2019-20
Author: Manager Payroll
Designation: Manager Payroll
Date: 25-12-2019
Contents
Applicability......................................................................................................................................... 3
General guidelines .............................................................................................................................. 4
Details of proofs to be submitted section wise .................................................................................... 5
General guidelines:
1. Update your Savings Declaration Form in MyWipro (MyWipro ->App Store -> Finance -> My Financials-
>Financial Declarations -> IT Declaration) with the actual investments that you have made for the Financial
Year 2019-20.
2. Re-confirm your declarations & submit the proofs in “IT Proofs submission”. Once submitted a unique serial
number gets generated (which will help in tracking proofs at submission / verification stage). Declaration Form
[for the year 2020-21] will not be available for any modifications after 25 th Jan 2020. Ensure that all the
modifications are completed prior to this date. IT Saving Declaration will not be considered for the tax
computation, if proofs are not submitted on or before 25th January 2020.
3. Online IT proofs submission process. (Please follow navigation link mention in the group mailer to complete
the online submission process) We have deployed IT proofs softcopy online submission.
Each supporting investment proof for every declaration must be limited to 4MB.
Ensure that the scanned documents have clear visibility (i.e. all fields must be visible)
***All the comprehensive information of timelines for submission, login procedure and process of
uploading documents is communicated in Group announcement mail***
Please Update Your PAN in the Declaration form. If you have not yet applied for PAN, please do it now
and enclose the acknowledgment for having applied. Savings declaration will not be considered for tax
calculation unless you quote your PAN. Please also note that Tax authorities will not accept IT Returns
unless PAN is quoted. Income tax department has introduced an online application of PAN. PAN can
now be obtained in 5 days. The Link for the same is https://tin.tin.nsdl.com/pan/index.html. A detailed
FAQ on PAN is available in myWipro - PAN.
If PAN is not provided, the tax credit for the taxes which is deducted will not be available to individuals,
form 16 shall not be issued and employee cannot avail tax refund.
2. LTA Exemption
You can claim the LTA exemption on the travel expenses incurred by you along with your family to any place in
India. Employee should have proceeded on leave during the travel. LTA exemption can be claimed only twice in
block of 4 calendar years - current block is 2018-21 Original Air/Train/Bus Tickets have to be submitted and
original boarding pass for Air travel is must along with the original tickets, In case traveled through Private
Transportation – bills enclosed should contain names of the passengers, places of travel, date of travel, Total
distance traveled & the amount of actual expenditure. If you have traveled in your own vehicle Diesel/ Petrol bills
to be produced. Submit the statement attached in the [MyWipro – -> App Store -> Finance -> My Financials-
>Financial Declarations -> IT Declaration) - LTA attachment] for the travel details. Please note that you cannot
claim Lodging / Boarding expenses and sight-seeing expenses of your travel as per IT Act. A detailed LTA Policy
is available in MyWipro – App Store – Information – My Polices – INDIA (Select the country).
To claim LTA exemption first you need to declare LTA amount in WBP and get the same through payroll during
the FY i.e., from 1st April 2019 to 31st March 2020. If the LTA amount is not paid during the said period system
will not provide the exemption even through bills are submitted. One annual leave day is mandatory during the
LTA travel period.
Note: a). Without LTA claim form LTA bills will not be accepted for the tax exemption.
b). LTA amount has to allocate in WBP, correspondingly LTA has to declare under IT declaration page in the
month of WBP allocation.
Deduction in respect to any expenditure incurred for the medical treatment (including nursing), training and
rehabilitation of a dependent being a person with disability. A deduction of Rs. 75,000/- will be eligible. And in
case of severe physical disability as defined as per IT Act, an enhanced deduction of Rs 1,25,000/- will be
available.
Supporting documents in this case are:
1. Proof of expenditure incurred for the medical treatment (including nursing), training and rehabilitation of a
dependent being a person with disability or
2. Proof of amount paid or deposited under any scheme framed in this behalf by the LIC or any other insurer or
the administrator or the specified company and
3. Certificate issued from a government doctor (who is a physician, a surgeon, an oculist or a psychiatrist) which
is issued in 2019-20 financial year. If the certificate date is before the beginning of this financial year then the
exemption will not be given.
Deduction in respect of actual expenditure incurred for medical treatment on self or dependent relative in respect
of the following diseases.
Neurological Diseases where the disability level has been certified to be of 40% and above,
(a) Dementia;
(b) Dystonia Musculorum Deformans;
(c) Motor Neuron Disease;
(d) Ataxia;
(e) Chorea;
(f) Hemiballismus;
(g) Aphasia;
(h) Parkinsons Disease;
Maximum deduction eligible u/s 80DDB is Actual expenses incurred or Rs 40,000/- whichever is less (Rs.60,000/-
in case of patients 60 years and above but below 80 years) (Rs.80,000/- in case of patients 80 years and above).
A prescription from a specialist as specified in the rules containing the name and age of the patient, name of the
disease/aliment along with the name, address, registration number & qualification of the specialist issuing the
prescription would now be required.
6. Education Loan
Full amount of Interest paid during the financial year for loan taken to pursue higher education will be eligible u/s
80E. Supporting document required is photocopy of the certificate issued by the Bank mentioning the interest
amount collected during financial year and proof for higher education studies done either for self or for relatives.
“Higher education” means full-time studies for any graduate or post-graduate course in engineering, medicine,
management or for post-graduate course in applied sciences or pure sciences including mathematics and
statistics including vocational studies. “Relative”, in relation to an individual, means the spouse and children of
that individual. The deduction is available for seven assessment year after the initial assessment year from when
the assessee starts paying the interest on the loan.
7. Donations
Donations paid which are eligible for Deduction U/s 80 G will not be eligible for deduction in calculation for Form
16 issued by Wipro, You can claim the exemption at the time of filing the IT Returns with the Tax authorities.
Proof Required:
a) A Photo copy of the Certificate Issued by the Bank (Mentioning Details of Interest & Principal amount paid in
the financial year)
b) Form 12 C and Form12 C working sheet is mandatory. Form12 C is available in myWipro.
c) Co-borrower declaration needs to be submitted if the property / Loan are in joint name Maximum deduction
allowed towards Interest on housing is Rs.2,00,000/- [for self-occupied house property]. The total deduction for
the self-occupied and let out property together is 200000. In case of let out house properties, rental income should
also be declared in Form 12C. Only the net income / loss can be considered for tax deduction by Wipro.
Note: Interest on housing loan or The Profit/Loss on House property will not be considered unless the
form 12 C and computation sheet is enclosed along with the Bank Provisional certificate, please ensure
that certificate is dated after November of the current Financial Year.
NOTE: Provisional Form 16 or Full & Final settlement statement: detailed break up must be given in the
statement for the Income & Tax deduction, and also exemption in the F&F computation sheet of 2018-19
only.
A. Premium paid under Pension schemes of LIC (Sec 80CCC): Premium paid towards Pension scheme u/s
80CCC are eligible u/s 80C with the overall limit of Rs. 1.5Lakh. Photocopies of premium paid receipts to be
submitted. Along with the statement attached in MyWipro [MyWipro – -> App Store -> Finance -> My Financials-
>Financial Declarations -> IT Declaration) -> Section 80C & 80CCC) Pension Premium Paid attachment] for the
Premium paid details.
B. Premium paid under Pension schemes (Sec 80CCD (1B)): Premium paid towards Pension scheme u/s 80CCD
(1B) are eligible with the overall limit of Rs. 50,000. This Exemption is over and above of u/s 80CCE, Photocopies
of premium paid receipts to be submitted.
C. Life Insurance Premium: Photocopies of the premium paid receipts during the financial year 2019-20. You
need to enclose the previous year premium paid Receipts for the premium due between 20-Jan-2020 and 31-
Mar-2020. No Declaration / proofs required for the LIC premium if it is deductions through salary. And please
submit the statement attached in MyWipro [MyWipro – -> App Store -> Finance -> My Financials->Financial
Declarations -> IT Declaration) -> Section 80C & 80CCC) for the Premium paid and due details.
D. Investment in NSC: Photocopy of the NSC Certificates, purchased after 01-04-2019. For NSC Interest
calculation use the Calculator available in MyWipro [MyWipro – -> App Store -> Finance -> My Financials-
>Financial Declarations -> IT Declaration) -> Section 80C & 80CCC) [please attach this sheet along with the
proofs & with the certificate numbers and you need not enclose the photocopy of the certificates] Interest on NSC:
The Interest accrued on NSC if declared u/s 80C will be included in income from other
sources. If it is declared u/s 80C it is not required you to declare the same in Form 12C.
E. ULIP, Mutual Fund / MEP / ELSS: Photocopies of the Certificate or the Payment receipt. Mutual Fund Receipts
which mention the exemption under this section only will be considered.
F. Education Expenses: Photocopies of the Tuition Fees paid to educational institution during the Financial Year,
exemption is provided only for two children of the employee and will get the exemption for amount paid only
towards tuition fee.
G. Fixed Deposits: Fixed deposits for more than Five years term are eligible for the tax exemption. Copy of the
FD certificate should be submitted. Fixed deposits with the following banks are only eligible for the exemption.
H. NPS: With effect from Financial Year 2015-16, in addition to the deduction u/s 80 CCD (1), deduction of Rs.
50,000 has been on contribution in NPS (u/s 80CCD(1B)) is applicable. In other words, it can be mentioned that
an employee can claim overall deduction of Rs. 2,00,000/- (i.e. Rs. 1,50,000/- u/s 80C/80CCC/80CCD(1) and Rs.
50,000/- u/s 80 80CCD(1B)). Please note that if an Individual/ employee has not opted for the corporate plan and
employees are making investment under the all citizen model i.e. on their individual basis, even in that case
investment made by them can be claimed by the employee and the employer is liable to provide deduction u/s
80CCD (1) and u/s 80CCD (1B) to the employee under form 16.
I: ITR Filing within Due date: As per new income Tax section 234F, from assessment year 2018-19 onwards,
where an employee fails to file Income Tax returns before the due date (31st July 2020) shall pay. By way of fee,
a sum of; (a) Rs.5000, if the return is furnished on or before the 31st day of December 2020. (b) Rs.10000 in any
other case; If the total income of the person does not exceed Rs.5,00,000, maximum fee will be Rs.1000.
Act fast & ensure that your IT declaration form along with your saving proofs reaches on time.
For any queries on IT Proof submission, please raise a myHelpline call on specified subject only.
Regards,
HRSS – Payroll Team