Guidelines for Investment Declaration

F. Y. 2021-2022

A. Y. 2022-2023

Tanqaa Payroll Private Limited

www.tanqaa.in
 Table of Contents

1 Submit Final Declaration In Tanqaa 3

2 Print Declaration Sheet And Form 12Bb 5
Income Tax Slab Rates For Financial Year 2021-2022
3 & 12
Guidelines For Investment Proof Submission
1 Submit Final Declaration in Tanqaa
Login to Tanqaa and visit the tax declaration screen.

Click to open a new

declaration screen

On clicking the icon, you can view the tax declaration screen at the bottom. If you had submitted any declaration for the
year 2021-2022 earlier, you would see the last submitted declaration being displayed. You can edit the last submitted
declaration and submit it as final declaration. In case you are submitting the declaration for the first time in the year, you
will see a blank screen in which you can make entries.

Please note that this will be your final declaration for the year. On the screen, you will be able to see “Final” for the
Declaration Type field by way of a disabled dropdown (please see the above screenshot). In case you see “Initial” in the
disabled dropdown instead of “Final,” please report it to us by sending an email to incometaxqueries@tanqaa.in.

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For your declaration to take effect, the Declaration Type field should display “Final” instead of “Initial.”

Fill in tax declaration information on the screen. Please click on the icon on top right of the screen for help. After you
complete entering the declaration, scroll down to the bottom of the screen and click the “Submit” button.

As soon as you submit the declaration, you will see an entry bearing the time stamp in the “Comments History” area. If
you do not see the date and time of submission in the “Comments History” area, you should assume that your declaration
has not been recorded by Tanqaa and you have to submit your declaration once again.

Date and time stamp

of the declaration

You can re-submit your Final declaration multiple times till last date of submission.

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 2 Print Declaration Sheet
After you submit the declaration, click the “Generate Declaration Sheet” button at the bottom of the screen. You would see
the declaration sheet opening in a PDF file.

Click to Generate the

Declaration in ‘.pdf’

In the PDF file, you should see “Final Declaration” in the title. If you see “Initial Declaration” please re-submit your
declaration and take a print out of the declaration.

This should
be Final

Print the PDF file, and affix your signature on the last page of the declaration sheet. Declaration sheet without employee
signature will not be considered for exemption calculation.

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Form No 12BB

Sign here on the

Write the date printed Form No
and place on 12BB
the Printed
Form 12BB

Please go through the declaration sheet to check if all your entries have been accurately presented. Please note that all
house rent, home loan, and investments stated in the declaration should have a corresponding receipt. If receipts are not
furnished, your declaration may be rejected, and consequently your tax liability may go up.

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3 Tax Proof Submission

Submit your Declaration Sheet scan copy (.pdf) under “ Tax Proof ” Tab

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Submit your Investment Proof scan copy (.pdf) under “ Tax Proof ” Tab

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Declaration Sheet and Investment proof Download

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Declaration Sheet and Investment proof Remove

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Guidelines

 Uploads shall be done only after final declaration is submitted

 In this tab, Declaration Sheet (declaration sheet along with Form 12BB) to be uploaded.

 Other proof related documents to be created as a Zip file and uploaded

 Only one zip file shall be created and inside the zip only PDF files are allowed.

 Folder should not be created in the zip file.

 To upload a different zip file, uploaded PDF file(s) shall be removed and a new zip file can be uploaded with PDF

files.

 For this zip file cannot be removed directly, need to first delete all the PDF file(s) from the Uploaded Files list.

 PDF files uploaded shall be removed, if not required, by selecting the Delete check box after each file.

 PDF uploaded shall be viewed by clicking the file icon under Download option against each file.

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4 Income Tax Slab Rates for Financial Year 2021-2022:
Income Tax slab as per “Old Regime and New Regime” are available under the tab >>
Tax rebates >> Slab Info tab

5 Guidelines for Investment Proof Submission

5.1 Income and Tax Details from Previous Employment (Applicable
for employees who joined after 1st April 2021)
Proof to be submitted
Declaration to be updated in Tanqaa under ‘Prev Empr Details’ tab. Form 16 or a signed
tax computation sheet from the previous employer to be submitted.
Guidelines
Income after Sec 10 exemption and deductions such as Profession Tax, Provident Fund,
and Income tax deducted will be taken into account for tax calculation.

5.2 House Rent Allowance Exemption (Under Section 10 (13A))

Proof to be submitted
Rent receipts for the period of rented accommodation specified in your declaration.
Guidelines
1. Please submit original receipts presenting the address of the residence. Rent
agreement alone is not sufficient.
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2. The receipt should clearly specify the amount of rent, period of stay in the current
tax year, and carry the signature of the owner of the property.
3. Rent receipt pertaining to periods outside of the current employment period will not
be considered for exemption calculation.
4. An employee living in his own house or in a house for which he/she does not pay any
rent is not eligible for this exemption.
5. Further if annual rent paid by the employee exceeds Rs. 1,00,000 (One Lakh) per annum
(monthly rent of more than Rs.8,333), as per Notification No.30/2017, dated 29th April,
2017, it is mandatory for the employee to report Name, Address and PAN of the
landlord/landlords to the Employer.

5.3 Housing loan – Loss on House Property (Under Section 24)

Proof to be submitted
Provisional certificate issued by the housing finance company/bank, clearly indicating
the address of the property for which the loan has been taken.
Guidelines
1. Only the interest paid from Apr 2021 to Mar 2022 will be considered for exemption
calculation.
2. Tax benefits not allowed when the building is under construction will be allowed
only after the property is occupied. Possession letter issued by the builder needs
to be submitted in case of doubts.
3. Pre-EMI interest (EMI paid before occupation of the house), if any, is deductible in 5
equal installments from the year when the construction is completed / property is
acquired. The relevant proof and the calculations to be attached.
4. In case of loan jointly availed, the employee should declare only the amount paid by
him/her in the declaration. In case you wish to claim the 100% tax exemption for the
loan repayment, please submit a letter/declaration signed by co-borrowers.
Template is available at My tanqaa-> Tax Related -> Download Templates -> Home
Loan Co-borrower Declaration.pdf
5. If the own premises is left vacant, a notional rental income – calculated as per
guidelines issued by the income tax department -- has to be declared.
6. The employee should submit a declaration on availing both HRA exemption and
Housing Loan Interest benefit stating that the property is owned by him/her is not
let out and he derives no income from the property, Template is available at My
tanqaa-> Tax Related -> Download Templates -> HousingLoanSelfOccupied-
HRAExemptionDeclaration.pdf.
7. Loan taken for land is not exempted as per Income Tax rules.

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80EEA Note:
 Home Loan Interest (on or after April 1, 2021)
 Home Loan Sanction Date: Please enter the Loan Sanction Date.
 Is First Home Loan: Check the box if it is the First Home Loan.
 Home Loan Amount: Please enter the Total Home Loan sanctioned by the
Financial Institution.
 Cost of Home: Please enter the cost the flat or total estimate of the House to be
constructed.
The above details are required to provide exemption under Sec 80EEA of Income Tax
Act where first time Home buyers are provided an additional Rs 1,50,000 (One Lakh
Fifty Thousand) Self Occupied property apart from the existing exemption of
Rs.2,00,000(Two Lakh).
This exemption is applicable only if the

 Cost of the Home does not exceed Rs.45,00,000.

 Sanctioned Home Loan does not exceed Rs.45,00,000.
 Loan sanctioned date between 01-Apr-2021 and 31-Mar-2022.
 Should not own any other residental property on sanction Date.

General Note:
The interest on a housing loan should be considered for tax deduction only if the
acquisition or construction of the property for which the loan is taken, is completed
within the end of the financial year during which the interest is to be considered for tax
deduction.
In case of property acquired or constructed with a loan borrowed on or after April 01,
1999, the acquisition or construction of the house property should be completed within
3 years from the end of the financial year in which the loan was borrowed, for the loan
interest to be considered for tax deduction.
Lender details need not be filled when the Loan Interest Amount is Zero

5.4 Life Insurance Premium (Under Section 80C)

Proof to be submitted
Copies of the insurance policy with details of the insured persons and the receipt of
premium paid for the year.

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Guidelines
1. The insurance policy should be from a company approved by the IRDA.
2. The premium amount should pertain to Apr 2021 – Mar 2022.
3. The insurance policy can be for the employee, spouse and children of the
employee.
4. Late fee payment, if any, will not be considered for tax exemption.
5. After cutoff date the New Policy cannot be considered.

Note:

 If the policy issue date is 01-April-2012 or later, then the deduction benefit on account of
the insurance premium shall be the actual premium paid or 10% of the sum assured
amount, whichever is lower. For example, if the sum assured amount is Rs 1 lakh and the
annual premium amount is Rs 30,000, then the deduction is restricted to Rs 10,000 (or
10% of the sum assured amount).
 If the policy issue date is before 01-April-2012, then the deduction benefit on account of the
insurance premium shall be the actual premium paid or 20% of the sum assured amount,
whichever is lower.
 In case there are any pending bills to be submitted after the proof submission cut-off date,
please declare the same in Tanqaa under ‘Pending’ tab as shown below

5.5 Deposit in Public Provident Fund (Under Section 80C)

Proof to be submitted
 Copy of stamped challan or online statement or PPF passbook.
 Premium/Installment to be paid after submission cut-off date cannot be
considered.
 After submission cut-off date the New Investment cannot be considered

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Guidelines :
The PPF deposit can be in the name of the employee, spouse and children of the
employee.

5.6 Deposit in National Savings Certificate (Under Section 80C)

Proof to be submitted
 Copy of the savings certificate and details of interest calculation.
 Premium/Installment to be paid after submission cut-off date cannot be
considered.
 After submission cut-off date the New Investment cannot be considered
Guidelines
The NSC interest will be taxed as “Other Income.”

5.7 Deposit in Scheduled Bank (Under Section 80C)

Proof to be submitted
 Copy of deposit certificate/receipt indicating ‘Bank Term Deposit Scheme, 2006’.
 Premium/Installment to be paid after submission cut-off date cannot be
considered.
 After submission cut-off date the New Investment cannot be considered

Guidelines
The term deposit should be for a minimum period of 5 years to be eligible for tax
exemption.

5.8 Investment in ULIP, ELSS, Infrastructure Bonds, and National

Savings Certificate (Under Section 80C)
Proof to be submitted
 Copy of receipt, bond, certificate, and fund statement.
 Premium/Installment to be paid after submission cut-off date cannot be
considered.
 After submission cut-off date the New Investment cannot be considered
Guidelines

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The investment should pertain to Apr 2021 – Mar 2022.

5.9 Sukanya Smridhi Scheme (Under Section 80C)

Proof to be submitted
 Copies of the investment in Sukanya Smridhi Scheme account paid for the year
(Pass book).
 Premium/Installment to be paid after submission cut-off date cannot be
considered.
 After submission cut-off date the New Investment cannot be considered
 Premium to be paid after submission cut-off date cannot be considered.
Guidelines
A sum paid or deposited during the year in the Scheme in the name of any girl
child of the individual or by her legal guardian, would be eligible for deduction.

5.10 Children’s Education Fee (Under Section 80C)

Proof to be submitted
 Fee receipt issued by the education institution.
 Premium/Installment to be paid after submission cut-off date cannot be
considered.
 After submission cut-off date the New Investment cannot be considered
Guidelines
1. Tuition Fee, Term Fee, Books, Library, Education Fee, Computers, Games, etc.
would be considered. Fees such as, Donation, Misc. Fee, Development Fee, Building
Fee will not be allowed.
2. Receipts should pertain to the period Apr 2021– Mar 2022.

The following are the deduction not allowed under tuition fees

 Deduction is not allowed for private tuition, coaching center.

 University College School or other educational institution must be situated in
India. It can be affiliate to any foreign university.
 A late fee is not eligible for deduction.
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  Development fees or donation is not eligible.
 Payment of fees for overseas education is not allowed.
 Fees for admission are excluded from amounts eligible for deduction.
 Transport charges, hostel charges, Mess charges incurred for education are not
allowed
 Spouse’s tuition fee is not allowed for deduction.

5.11 Housing Loan Principal Repayment, Registration Fee, and Stamp

Duty (Under Section 80C)
Proof to be submitted
Provisional certificate issued by the housing finance company/bank, copy of the sale
deed and receipt of stamp duty paid.
Guidelines
Certificate, sale deed, and stamp duty should pertain to Apr 2021 – Mar 2022.

5.12 Pension Policy (Under Section 80CCC)

Proof to be submitted
Copies of the insurance policy with details of the insured persons and the receipt of
premium paid for the year.
Guidelines
1. The insurance policy should be from a company approved by the IRDA.
2. The premium amount should pertain to Apr 2021 – Mar 2022.
3. The insurance policy can be for the employee, spouse and children of the employee.
4. Late fee payment, if any, will not be considered for exemption.

5.13 National Pension Scheme (Under Section 80CCD)

Section 80CCD
Deduction given under this section 80CCD towards the investments in "National
Pension System" (NPS) Scheme as notified by the government.
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If any investments made by the employees in the said scheme is considered for
deduction under two sub-sections of this section.
You have to enter the total contribution made / to be made by you, under this scheme.
Tanqaa would compute the deduction allowed under these two sub-sections of this
section as detailed below.
Section 80CCD(1)
Deduction under this sub-section cannot exceed 10% of the annual Basic Salary and
Dearness Allowance (If applicable) paid/payable to you in this financial year.
Sum of deductions under the sections [ 80C + 80CCC + 80CCD(1) ] cannot exceed
Rs.1,50,000 .
Section 80CCD(1B)
Maximum deduction under this sub-section is Rs.50,000. It is not restricted to any % of
salary.
This deduction is over and above the deduction of Rs.1,50,000 given under the sections
[ 80C + 80CCC + 80CCD(1) ]
Note1: As mentioned above, you need to declare the total contribution made / to be
made by you in this scheme and the system will take care of the calculation of
deductions.
Generate your tax sheet to view the exact deduction u/s 80CCD (1) and 80CCD(1B).

5.14 Medical Insurance (Under Section 80D)

Proof to be submitted
 Copies of the insurance policy with details of the insured persons and the receipt
of premium paid for the year
 After submission cut-off date the New Investment cannot be considered
Guidelines
1. The premium amount should pertain to Apr 2021 – Mar 2022.
2. Maximum amount allowed for deduction to Employee, Spouse & Children - Rs
25,000. If any person is above 60 years (senior citizens), limit is increased to
Rs.50,000.
3. Maximum amount allowed for deduction to Parents - Rs 25,000. If any person is
above 60 years (senior citizens), limit is increased to Rs.50,000.

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4. In case of parents above 80 years (very senior citizens) and no medical insurance
taken for them, medical expenses up to Rs. 50,000 is exempted. Age proof of the
parent(s) to be submitted for availing this benefit. However, this amount shall not
exceed overall limit applicable for exemptions u/s 80D.
5. Apart from the above insurance premiums, preventive health check-up expense up to
Rs.5,000/- shall be allowed for tax exemption. However, this amount shall not
exceed overall limit applicable for exemptions u/s 80D.
Note:
In case there are any pending bills to be submitted after the proof submission cut-off
date, please declare the same in Tanqaa under ‘Pending’ tab as shown below and also
submit the last year paid receipt.

5.15 Maintenance Expenditure for a Disabled Dependant (Under

Section 80DD)
Proof to be submitted
 For Autism, Cerebral Palsy, Multiple Disability - Form No 10-IA
 For all other disabilities - Form as per "Persons with Disabilities (Equal
Opportunities, Protection of Right and Full Participation) Act, 1995”.
 Self declaration of amount spent in the financial year
Guidelines
1. Exemption of Rs. 75,000 for dependent persons with disability and Rs. 1,25,000
with severe disability.

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 2. Maintenance, including medical treatment expense of a dependent can be
claimed.
3. Where the condition of disability requires reassessment, a fresh certificate is to be
obtained to continue claiming the deduction.

5.16 Expenses Incurred for Treatment of Specified Diseases (Under

Section 80DDB)
Certificate / Prescription from a Specialist (with post graduate degree recongnised by
Medical Council of India) in treatment of concerned disease.

Certificate should have the details as below.

 Name and age of patient

 Name of the disease or ailment
 Name, address, registration number and qualification of the specialist
 If the treatment is in Govt. hospital, name and address of the hospital.
Guidelines
1. Exemption of Very Senior Citizen and Senior Citizen - Rs.1,00,000 and Others -
Rs 40,000 respectively.
2. Where the condition of disability requires reassessment, a fresh certificate is to be
obtained for exemption.

5.17 Self-disability Claim (Under Section 80U)

Proof to be submitted
 For Autism, Cerebral Palsy, Multiple Disability - Form No 10-IA
 For all other disabilities - Form as per "Persons with Disabilities (Equal
Opportunities, Protection of Right and Full Participation) Act, 1995”.
 Self declaration of amount spent in the financial year

Guidelines
1. Where the condition of disability requires reassessment, a fresh certificate is to be
obtained for exemption

5.18 Interest on Education Loan for Higher Education (Under Section

80E)
Proof to be submitted

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Letter / certificate from the bank / financial institution specifying that the loan is an
educational loan and the amount of interest paid on the loan is for the current year (Apr
2021– Mar 2022)
Guidelines
1. The loan should have been availed by the employee/ employee’s children for
pursuing higher education.
2. Only the interest paid for the first 8 years of repayment will be considered.
3. There is no limit on the amount of interest that can be considered for exemption.
4. Interest paid in the current year (Apr 2021– Mar 2022) alone will be considered for
exemption.

5.19 Donations (Under Section 80G)

Proof to be submitted : Photocopy of the receipt issued by the charitable trust/
institution.
Guidelines
1. Donations made to funds (Prime Minister Relief Fund) which are notified by the
income tax department u/s 80G.
2. Donations paid to the charitable trusts cannot be authorised by the employer. You
may claim exemption u/s 80G while filing your income tax return.
3. Investments in certain avenues are eligible for 100% rebate while investments in
other avenues are eligible for rebate only to the extent of 50%.

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