INVESTMENT PROOF SUBMISSION GUIDELINE FOR THE FINANCIAL YEAR 2021-22

Note 1: Any employees who have chosen new tax regime, benefits u/s 10 and Chapter VIA are not available, hence they are not
required to submit any investment proofs.

Type of Section Details of Benefit Available Documents Required Validation Parameters /

Investment under Guideline
which
benefit is
available
Life Insurance 80C Life Insurance Premium paid for
 Receipt of premium paid.  Payment date should be within
Premium self, spouse & children during In case your premium due current financial year i.e. 1st
current year will be eligible for
date falls after the cut-off April 2021 to 31st March 2022.
deduction. date of proof submission -  Late payment fees charged will
please pay your premium in not be considered as premium
advance or submit copy of paid.
the premium paid in last  Maximum benefit is available
financial year (2020-21) with of 10% of sum assured and that
a declaration that you will of 15% in case person with
deposit & submit the same in severe disability.
current financial year. If we  Receipt should be in the name
do not receive the said LIP of employee, spouse or
Receipt till Cut-off date, we children.
will remove the benefit &  Policy taken for parents are not
TDS will deduct from your eligible for deduction.
Salary.
Employees 80C Amount deducted from salary  NA  NA, amount deducted from
Provident towards contribution to salary shall be automatically be
Fund/ recognized provident fund. considered for deduction.
Voluntary
Provident Fund
Public 80C Amount deposited by an  Copy of stamped challan &  Payment date should be within
Provident Fund individual in his own account or in PPF passbook to be produced current financial year i.e. 1st
the account of his/her minor as proof of payment. April 2021 to 31st March 2022.
child.  PPF account should be in the
name of employee, spouse or
children.

National 80C Amount invested in purchases of  Copy of certificates.  Date of purchase should be
Saving NSC. within current financial year i.e.
Certificate 1st April 2021 to 31st March
2022.
 NSC can be purchased in the
name of employee, spouse or
children.
Sukanya 80C Any sum paid or deposited  Copy of statement or challan  Deposit date should be within
Samriddhi during the year along with passbook. current financial year i.e. 1st
Account -In the name of employee or a  Copy of certificates April 2021 to 31st March 2022.
Scheme girl child of that employee  Benefit is available for
including a girl child for whom maximum of two girl child.
the employee is the legal  Certificate should be in the
guardian in any notified scheme name of Girl Child of the
or security. employee.

-To any such savings certificates

as defined in sec 2(c ) of the
Government Savings Certificate
 Act, 1959 as the Govt may, by
notification in the official gazette,
specify in this behalf.
[The central Government has
since notified National Saving
Certificate (VIIIth issue) and (IXth
issue)]
Children 80C Tuition fees paid for the financial  Copy of fee challan / receipt
Education fees year for the purpose of full time
(Tuition Fees) education with any university,
college, school and other
educational institute in India will
be considered for deduction.
Benefit is available for maximum
of two school going children per
individual.
Full Time education includes any
educational courses offered by
any university, college, school or
other educational institution to a
student who is enrolled full-time
for the said course. It is also
clarified that full-time education
includes play-school activities,
pre-nursery and nursery classes.
ULIP 80C Amount invested in ULIP in the
name of self, spouse or children.
ELSS / Notified 80C Amount invested in eligible
Mutual Funds mutual fund.
Repayment of 80C  Amount paid towards principal
Housing Loan repayment of housing loan.
Principal Stamp duty or registration fee
Amount / paid at the time of registration
Stamp Duty / of property is also eligible for
Registration deduction.
fee for transfer
of property
Fixed Deposit 80C  Amount invested in fixed
in a Scheduled deposits for a minimum of 5
Bank years period with any
scheduled or nationalized
bank. The deposit can be done
in the name of employee,
spouse or dependent children.
5-Year Post 80C Amount invested in a post office
Office in eligible scheme.
Recurring
Deposit
or certificate mentioning
tuition fee.
 Copy of ULIP statement /
receipt.
 Copy of statement / receipt.
 Copy of certificate from bank
/ financial institution
mentioning the amount paid
towards principal.
 Copy of sale deed / transfer
deed / agreement to sell /
registry.
 Copy of receipt / certificate
issued by bank.
 In case FD is not in the name
of employee, declaration
forms needs to be submitted.
 Copy of passbook.
 Payment date should be
within current financial year
i.e. 1st April 2021 to 31st
March 2022.
 Only tuition fee is allowed as
deduction, no other fee like
development fee, van charges
or payment of similar nature
will be considered for
deduction.
 Tuition fees paid to Institution
situated outside India is not
eligible for deduction.
 Tuition fees paid for part time
education/courses are not
eligible for deduction.
 Payment date should be within
current financial year i.e. 1st
April 2021 to 31st March 2022.
 Payment date should be within
current financial year i.e. 1st
April 2021 to 31st March 2022.
 The mutual fund should be tax
saver mutual fund.
 Amount actually paid during
the financial year 2021-22 i.e.
01st April 2021 to 31st March
2022 are eligible for deduction.
 The purpose of loan must be
construction / acquisition or
renovation of house.
 The stamp duty or registration
charges incurred in current
financial year only are eligible
for deduction.
 Deposit date should be within
current financial year i.e. 1st
April 2021 to 31st March 2022.
 The certificate issued must
contain the lien marking for
eligible for tax deduction.
 The period of deposit must be
minimum 5 years.
 Deposit date should be within
current financial year i.e. 1st
April 2021 to 31st March
2022.
Account / Post In case of SCSS, employee age  The period of deposit must be
Office Time should be greater than or equal minimum 5 years for RD and
Deposit to 60 years. TD scheme.
Account / Post
Office Monthly
Income
Scheme
Account (MIS)
/ Senior Citizen
Savings
Scheme (SCSS)
80CCC 80CCC Amount invested in pension  Copy of receipt / statement  Deposit date should be within
(Pension policy in the name of employee,  In case policy is not in the current financial year i.e. 1st
Policy) spouse or dependent children. name of employee, April 2021 to 31st March
declaration forms needs to 2022.
be submitted.  Policy should be in the name
of employee, spouse or
dependent children.
National 80 CCD Amount invested in notified  Copy of receipt / statement  Deposit date should be within
Pension (1B) pension scheme. Maximum  In case policy is not in the current financial year i.e. 1st
Scheme ( NPS) benefit is available up to Rs. name of employee, April 2021 to 31st March
U/S 80CCD(1B) 50000 in a year. Benefit is declaration forms needs to 2022.
available in addition to limits be submitted.  Policy should be in the name
specified u/s 80C. of employee, spouse or
dependent children.
Mediclaim 80D  Amount paid towards  Copy of receipt along with  Premium paid date should be
Insurance mediclaim insurance premium policy. within current financial year
Premium for self, spouse, children and  In case of claim for medical i.e. 1st April 2021 to 31st
parents. expenses, original bills will be March 2022.
 For Self, spouse and children required.  Payment mode should be
up to Rs. 25000  In case of preventive health other than cash.
 Dependent parents (non- check-up, receipt would be  Preventive health check-up
senior citizen) up to Rs. 25000 required from diagnostic payment can be made in cash.
 Dependent parents (Any one) centre, pathology lab.  In case of medical bills,
is senior citizen - up to Rs.  In case premium is due after expenses must be incurred in
50000 proof submission cut-off current financial year only.
In case of parents being senior date, either pay the premium
citizen can claim medical in advance and submit the
expenses up to Rs. 50000 if no receipt or submit last year
amount is paid for medical policy document along with
insurance. declaration to pay the
 Employee can claim expenses premium on or before the
incurred for preventive health due date.
checkup up to Rs. 5000 subject
to limit specified above.
 In case of insurance taken for
more than one year, then
proportionate amount shall be
allowed as deduction in current
financial year.
Expenditure 80DD  Benefit is available if an  Copy of certificate in form 10I  The certificate should be valid
incurred on employee has incurred issued by the competent for current financial year.
Medical expenses for medical medical authority in a  Declaration by dependent for
Treatment of treatment (including nursing), Government Hospital, with a not claiming benefit by him/her
Handicapped training & rehabilitation of the self-declaration, certifying u/s 80U.
Dependents. differently abled dependent or the % of disability of
may have deposited in a handicapped dependent.
scheme of LIC or another
 insurer for maintenance of the  Further in cases where the
dependent. condition of disability is
Dependent means spouse, temporary and requires
children, parents, brothers & reassessment of its extent
sisters of the employee. after a period stipulated in
 Disability of the dependent is the aforesaid certificate, a
not less than 40%. new certificate is to be
 This benefit is not allowed to obtained from the medical
employee if the dependent has authority.
claimed a deduction under  Copy of medical bills towards
section 80U for expenses incurred in current
himself/herself. financial year.
 Rs 75,000 where disability is Followings can be considered as
more than 40% and less than competent medical authority
80%  A Civil Surgeon or Chief
 Rs 1,25,000 where disability is Medical Officer (CMO) of a
more than 80% government hospital.
These deductions are allowed  A Neurologist with a Doctor
irrespective of actual expenditure of Medicine (MD) degree in
by the employee. Neurology. If it's for a child,
then a Paediatric Neurologist
holding an equivalent degree.
Medical 80DDB  Medical treatment of  Original Medical bills.  Expenses should be incurred
Treatment for employee himself or a  Prescription from an during current financial year i.e.
specified dependent who is suffering oncologist, urologist, 01st April 2021 to 31st March
illness/diseases from a specified disease nephrologist, haematologist, 2022.
an immunologist or any  The prescription must contain
List of diseases other doctor having relevant the following information:
 -Neurological Diseases where specialist in medicine with -name and age of the patient
the disability level has been the degree being recognised -name of the disease or ailment
certified to be of 40% and by Medical Council of India. -name, address, registration
above — number and the qualification of
-Dementia the specialist issuing the
-Dystonia Musculorum prescription
Deformans -If the patient is receiving the
-Motor Neuron Disease treatment in a Government
-Ataxia hospital, it should also have
-Chorea name and address of the
-Hemiballismus Government hospital.
-Aphasia
-Parkinsons Disease

 Malignant Cancers
 Full Blown Acquired Immuno-
Deficiency Syndrome (AIDS)
 Chronic Renal failure
 Hematological disorders
-Hemophilia
-Thalassaemia

 Amount of deduction
 40,000/- or the amount
actually paid, whichever is less.
 In case of senior citizen Rs,
1,00,000 or amount actually
paid, whichever is less.
Interest paid 80E  Interest paid on education loan  Copy of certificate from bank
on Education taken for higher education of
loan self, spouse or children.
 Benefit is available in the
financial year in which employee
starts paying the interest on the
loan taken and immediately
succeeding seven financial years
or until the financial year in
which the interest is paid in full
by the employee, whichever is
earlier.
/ financial institution
mentioning type of loan and
interest amount paid during
the year.
 Certificate should be of current
financial year.
 Certificate must contains year in
which the repayment has
started.
 Only Interest part to be
considered for deduction.
 Deduction is allowed till 7 years
from the financial year in which
repayment has started.

Higher education means any

course of study pursued after
passing the Senior Secondary
Examination or its equivalent.
Additional 80EE Section 80EE allows income  Certificate from bank  The certificate must be for
benefit for tax benefits on the interest specifying the principal and current financial year.
interest paid portion of the house property interest amount separately.  Loan sanction date must be
on housing loan availed from any financial  Copy of possession letter/ within 1st April 2016 to 31st
loan institution. The deduction completion certificate / sale March 2017.
allowed under this section is for deed or self-declaration  Property Value should be equal
the interest paid on a home loan thereof. to or less than 50 Lacs.
for up to a maximum of Rs 50,000  The documents must contain  Loan amount must be less than
per financial year. Employee can the following information: or equal to Rs. 35 Lacs.
continue to claim this deduction  -Loan Sanction date  The loan must be taken from
until the loan is fully repaid.  -Value of property financial institution or housing
 Declaration from employee finance company.
Conditions to be Met for for first time buyer.  Declaration must be taken from
Claiming Deduction employee for being the 1st time
 Value of this house should be buyer.
Rs 50 lakhs or less
 Loan taken for this house
must be Rs 35 lakhs or less
 The loan must be sanctioned
by a Financial Institution or a
Housing Finance Company
 The loan must be sanctioned
between 01.04.2016 to
31.03.2017
 As on the date of the
sanction of loan, no other
house property must be
owned by employee.

Section 80EE came into effect

from the financial year 2013-14. It
was available for only 2 years, FY
2013-14 and FY 2014-15. The
deduction allowed earlier was
limited to a maximum of Rs 1 lakh
in total and was available for only
2 financial years. However, this
section has been reintroduced,
effective FY 2016-17 (Assessment
Year 2017-18). Now the deduction
is allowed for up to Rs 50,000 per
 year, starting from FY 2016-17
and subsequent years, until the
loan is repaid.

Special Features
 The Section also does not
specify if this house should be
self-occupied to claim the
deduction. Borrowers living in
rented houses can also claim
this deduction.
 Moreover, the deduction can
only be claimed by individuals
for the house purchases jointly
or singly. If a person jointly
owns the house with her wife
and they both are paying the
instalments of the loan, then
both of them can claim this
deduction.
 If employees are able to satisfy
the conditions of both Section
24 and Section 80EE, both the
benefits can apply. First,
exhaust limit under section 24
and then claim the additional
benefits under section 80EE.
Therefore, this deduction is in
addition to the Rs 2 lakh limit
under section 24.
Deduction for 80EEA The Finance (No.2) Act, 2019 has  Certificate from bank  The certificate must be for
first time home inserted a new section 80EEA specifying the principal and current financial year.
buyers under the Income-tax Act for interest amount separately.  Loan sanction date must be on
those individuals who are not  Copy of possession letter/ or after 1 September 2019.
eligible to claim deduction under completion certificate / sale  Property Value should be equal
section 80EE. An individual can deed or self-declaration to or less than 45 Lacs.
claim deduction of up to Rs. thereof.  The loan must be taken from
1,50,000 under section 80EEA  The documents must contain financial institution or housing
subject to following conditions: the following information: finance company.
-Loan Sanction date  Declaration must be taken from
 Loan should be sanctioned by -Value of property employee for not owning any
the financial institution on or  Declaration from employee other house in his or her name
after 1 September 2019; for not owning any house as as on date of loan.
 Stamp duty value of residential on date of loan.
house property should not
exceed Rs. 45 lakhs;
 The assessee should not own
any residential house property
on the date of sanction of loan;
and
 The assessee is not eligible to
claim deduction under section
80EE.

Deduction for The deduction shall be available  Certificate from bank  The certificate must be for
Interest on if loan has been sanctioned by specifying the interest current financial year.
Loan taken to the financial institution during amount.
Buy Electric the period beginning from 01-04-
Vehicles: 2019 and ending 31-03-2023 for
80EEB the purpose of buying an electric
vehicle.
This deduction shall be available
from Assessment Year 2021-22
onwards.
Deduction in 80U Any employee who are any time
respect of during the financial year is
person with certified by the medical authority
disability to be a person with disability can
avail a deduction of Rs. 75000,
however if such individual is
person with severe disability
(disability more than 80%), a
higher deduction of Rs. 125000
can be availed.
HRA 10 (13A) If an employee is paying rent for
accommodation then least of
following is exempt from tax
Actual HRA received
Rent Paid minus 10% of Salary
50% or 40% of salary.
Salary here means Basic + DA.
If the location of rented
accommodation is Delhi,
Mumbai, Kolkata or Chennai 50%
of salary or 40% of salary in other
cases shall be exempted.
Interest Paid 24 If an employee is buying a house
on housing with borrowed capital, tax
loan (Income benefit can be availed for
from house interest payable during current
property) financial year subject to
fulfillment of following
conditions.
 The documents must contain
the following information:
-Loan Sanction date
-Type of loan
-Details of vehicle purchased.
 Copy of certificate in form 10I
issued by the competent
medical authority in a
Government Hospital, with a
self-declaration, certifying the
% of disability of handicapped
dependent.
 Further in cases where the
condition of disability is
temporary and requires
reassessment of its extent
after a period stipulated in the
aforesaid certificate, a new
certificate is to be obtained
from the medical authority.
 Copy of medical bills towards
expenses incurred in current
financial year.
 Followings can be considered
as competent medical
authority
 A Civil Surgeon or Chief
Medical Officer (CMO) of a
government hospital.
 A Neurologist with a Doctor of
Medicine (MD) degree in
Neurology. If it's for a child,
then a Paediatric Neurologist
holding an equivalent degree.
Rent receipt one for each
quarter.
PAN card of landlord if annual
rent is more than 1 Lac.
Certificate from bank specifying
the principal and interest
amount separately.
Copy of possession letter/
completion certificate / sale
deed or self-declaration thereof
 Loan sanction date must be
within 1st April 2020 to 31st
March 2023.
 The loan must be taken from
financial institution.
 Type of vehicle must be an
electric vehicle.
 Certificate provided must be in
the prescribed format (Form
10I)
 Certificate must be valid for
current financial year i.e 2021-
22.
 Certificate must contains
employee name.
 Certificate must contain the
%age of disability.
Rent receipt must contain the
details of landlord, complete
address of the house, PAN of
landlord (if applicable).
If the receipt is of more than Rs.
5000 paid in cash, revenue stamp
must be affixed (Except Karnataka
state).
Rent receipt should be signed by
the landlord.
In absence of any above
information, rent receipt will not
be considered for tax benefit.
Certificate should be for current
financial year. i.e 2021-22.
Employee name must be
mentioned on interest certificate
and possession letter / completion
certificate / sale deed. In can be in
form of co-borrower or co-owner.
Loan must be taken for
construction / purchase of house
property
Construction of house is
completed and employee has the
possession / completion
certificate.
Construction or possession must
be completed within 5 years of
Employee is owner or co-owner
of the house.
Deduction limit
Up to Rs. 200000 if
-Loan is taken for purchase or
construction of house.
-Loan is taken after 1st April 1999
-Construction or possession of
property is completed within 5
years of loan disbursement year.
In case of let out property,
computation of income from
house property.
In case of joint loan, joint loan
declaration signed by other co-
borrower is to be submitted.
In case employee is claiming
pre-construction period
interest, interest certificate for
all past year is required.
Documents submitted must
contain the following
information:
-Name & address of the lender
-PAN of lender.

Up to Rs. 30000 if
-Loan is taken for renovation of
house property.
-Any condition as mentioned
above is not fulfilled.

NOTE
Maximum deduction for interest
paid on Self Occupied house
property is Rs 2 Lakh. For let out
property, there is no upper limit
for claiming interest. However,
the overall loss one can claim
under the head of House
Property is restricted to Rs 2 lakh
only. This Deduction can be
claimed from the year in which
construction of the house is
completed.
 Income Tax Slab for individuals less than 60 years of age and HUF
Tax Rate FY 2021-22

Income range per annum Old Tax Regime New Tax Regime
Up to Rs. 250000 0% 0%
>250000 and <=500000 5% 5%
>500000 and <=750000 20% 10%
>750000 and <=1000000 20% 15%
>1000000 and <=1250000 30% 20%
>1250000 and <=1500000 30% 25%
>1500000 30% 30%

In case taxable income exceeds Rs. 50 Lakh surcharge will be charged on tax amount as per table below:

Income more than Rs. 1 Income more than Rs. 2

Income more than Rs. 50 lakh but
crore but up to Rs. 2 crore but up to Rs. 5 Income more than Rs. 5 crore.
up to Rs. 1 crore
crore crore

10% 15% 25% 37%

Education cess @ 4% of Income tax and surcharge (as the case may be) will be charged irrespective of the taxable income.