IT savings proofs

submission – FY 2023-24
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Author:
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Date: 05-12-2023
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Contents
Applicability
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General guidelines
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Details of proofs to be submitted section wise
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Applicable to employees based in India, on

short term & long-term assignment overseas,
and who are all opted for old tax regime and
New tax regime
Dear All,
Plan for your Tax savings for financial year 2023-24 (A.Y.2024-25) & submit the IT Saving Proofs before
15th January-2024 for computation of TDS.

General guidelines:
1. Update your Savings Declaration Form in MyWipro (thedot ->App Store -> My
Financials>Financial Declarations -> IT Declaration) with the actual investments that you have made
for the Financial Year 2023-24.

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 2023-24] will not be available for any modifications after 15 th
January 2024. Ensure that all the modifications are completed prior to this date. IT Savings
Declaration will not be considered for the tax computation, if proofs are not submitted on or before
15th January 2024.
3. Online IT proofs submission process. (Please follow navigation link mentioned in the group mailer
to complete the online submission process) We have deployed IT proofs softcopy online submission.
4. If Employees who are all opted for “New Tax Regime”, are not eligible for claiming the
exemptions and deductions, only you can declare Previous employer earnings (Applicable only for the
employees who joined after 1st April-2023) and Other income if any.

Request you to note the below points:

• Only PDF/JPG/DOC/DOCX documents can be uploaded.
• Each supporting investment proof for every declaration must be limited to 4MB.
• Soft/Scanned copies of documents to be kept ready separately to specific declaration.
• Ensure that the scanned documents have clear visibility (i.e.all fields must be visible)
• Ensure that the proofs which you are uploading should not have password protected.

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 ***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.

Details of Proofs to be submitted section wise

1. HRA Exemption
Monthly Rent Receipt (in original) issued by the house owner / landlord is to be submitted.
Minimum of one month’s Receipt is required for each quarter. Receipt should contain Name & address of the
Tenant, & Landlord, Month, Rent Amount, Rented house address, and Signature of the Landlord. If any quarter’s
rent receipts are not provided, then an exemption will not be provided. If the monthly rent paid by you is less than
or equal to Rs.3,000/-, you need not submit the Rent Receipts. However, a self-declaration must be given for the
total rent paid along with the landlord’s name & address and the address of property. If the self-declaration is not
submitted HRA exemption will not be given for such cases. Further if annual rent paid by the employee exceeds
1,00,000 per annum, it is mandatory for the employee to report PAN of the Landlord in the HRA receipt. Please
ensure, you provide the correct Landlord PAN. If Landlord PAN wrongly provided any further consequences
employee is responsible. Employees, who joined after 01st April 2023, should update the details only from the
Date of Joining.
Kindly note: Employee who are in Band C1 and above must declare the HRA in WBP and get the amount
through salary for claiming HRA exemption.

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 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 2022 to 2025 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 travelled
through Private Transportation – bills enclosed should contain names of the passengers, places of travel, date of
travel, Total distance travelled & the amount of actual expenditure. If you have travelled in your own vehicle Diesel/
Petrol bills to be produced. Submit the statement attached in the [thedot– -> App Store -> MyFinancials- >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
thedot – App Store – MyPolices – 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 2023 to 31st March 2024. If the LTA amount is not paid during the said
period system will not provide the exemption even though bills are submitted and approved. Atleast one
day annual leave is mandatory during the LTA travel period.
b). LTA amount has to be allocate in WBP and get this paid through salary, correspondingly LTA has to be declared
under IT declaration page to claim the LTA exemption.

3. Medical Insurance Premium (U/s 80D)

Maximum Premium amount allowed for deduction from taxable income U/s 80D is Rs 25,000 (Rs. 50,000 for
senior citizen dependents), For senior citizen above 80 years of age, who are not covered by health insurance,
tax deduction allowed for medical expenditure incurred up to Rs 50,000. In addition to this Parental insurance
premium of 50,000 can be claimed in this section. Photocopies of the premium paid receipt should be enclosed,
containing the Date of payment and a self- declaration from employee for proof of age of the patient. Please note,
only direct payments made to insurance agencies should be submitted. Premiums paid as deductions through
payroll (Mediclaim) will be eligible without submission of receipts...
Medical / Parental medical premium deducted through Wipro Salary no need to declare in IT declaration,
the same will be considered for exemption through system.

4. Deduction in respect of maintenance including medical treatment of

Handicapped dependent (U/s 80 DD)

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 2023-24 financial year. If the certificate date is before the beginning of this financial year, then
the exemption will not be given.

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 5. Deduction in respect of medical treatment U/s 80DDB

Deduction in respect of actual expenditure incurred for medical treatment on self or

dependent relative in respect of the following chronic diseases.
Neurological Diseases where the disability level has been certified to be of 40% and above,
a) Dystonia Musculorum Deformans;
b) Motor Neuron Disease
c) Ataxia
d) Chorea
e) Hemiballismus
f) Aphasia
g) Parkinsons Disease
h) Malignant Cancers
i) Dementia
j) Full Blown Acquired Immuno-Deficiency Syndrome (AIDS)
k) Chronic Renal failure
l) Hematological disorders
m) Hemophilia
n) Thalassaemia

Maximum deduction eligible u/s 80DDB is Actual expenses incurred or Rs 40,000-/whichever is less (Rs.100,000/-
in case of patients 60 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 80G 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.

8. Deduction in respect of maintenance including medical treatment for self (U/s 80 U)

Deduction in respect to any expenditure incurred for the medical treatment (including nursing), training and
rehabilitation for self 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 (i.e.
having any disability of 80% or above).

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 Supporting documents in this case are: Certificate issued from a government doctor with
Form 10I (who is a physician, a surgeon, an oculist or a psychiatrist) which is issued in
2023 -24 financial year. If the certificate date is before the beginning of this financial year
then the exemption will not be given.

9. Interest on housing loan

House Construction / Purchase should have been completed and house is ready to occupy during the financial
year (any pre-EMI interest paid before the completion of construction can be claimed over 5 years equally from
the year of completion) however, pre-EMI paid in the year of completion can be claimed fully in that financial year
itself. Loan should be taken from the financial institutions & the House property should be owned by you. If the
property / Loan is in joint name the co-owner has to provide the self-declaration of the percentage of exemption
claiming. As per the new amendments act from FY 2018-19 deduction on loss from house property is restricted
to 200000.
Section 80EE – Employee can claim additional exemption of 50000 under interest on housing loan subject to
below conditions.

a. Housing loan has been sanctioned by the financial institution during the period beginning on the 1st day
of April, 2016 and ending on the 31st March 2017.
b. The amount of loan sanctioned for acquisition of the residential house property does not exceed
35,00,000/- (Rupees thirty-five lakh only).
c. The value of residential house property does not exceed 50,00,000/- (Rupees fifty lakh only).
d. Assesse does not own any residential house property on the date of sanction of loan.
Section 80EEA – Employee can claim additional exemption of 1,50,000 under interest on housing loan subject
to below conditions.
a. Loan has been sanctioned by a financial institution during the period beginning on the 1st April, 2019 to 31st
March 2022.
b. The stamp duty value of house property does not exceed forty-five lakh rupees.
c. Assesse does not own any residential house property on the date of sanction of loan.
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 / Loans 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.

10. Interest loan taken for Electric Vehicle – Section 80EEB.

With a view to improve environment and to reduce vehicular pollution, exemption is provided for the deduction for
interest on loan taken for purchase of an electric vehicle upto INR 1,50,000 subject to the following conditions:

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 a. The loan has been sanctioned by a financial institution including a non-banking financial
company during the period beginning on the 1st April, 2019 to 31st March, 2023;
b. The assesse does not own any other electric vehicle on the date of sanction of loan.

11. Income from other sources.

If the employee wishes to declare any of the following types of income, he may do so in Form 12C:
a) Interest received from Banks
b) Taxable dividends received
c) Professional charges received The following are not considered under other income / loss. a) Capital gains

Only income is considered in this section, losses cannot be declared.

Any TDS deducted on the above income should be declared in Form 12C and relevant certificates should be
submitted as mentioned in the form.

12. Previous employment details

Applicable only to the Employees Joined after 1st April 2023: If you have joined Wipro after 1st April 2023, please
submit Form-12B available in thedot –> App Store -> My Financials->Financial Declarations -> IT Declaration –>
Previous Employment Details - Previous Employer Full and final Tax Computation sheet issued by your previous
employer.

Please note that, in case you don’t submit the form 12B and Full and final statement issued by previous employer,
the same will not be considered for tax computation purpose.

NOTE: 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 2023-24 only.

13. Deduction under section 80C

The overall limit under this section is Rs.1,50,000.

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 thedot–-> App Store-> MyFinancials>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 2023-24.

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 You need to enclose the previous year premium paid Receipts for the premium due
between 16th Jan-2024 and 31st Mar-2024. No Declaration / proofs required for the LIC
premium if it is deductions through salary. Please submit the statement attached in thedot –-> App Store -> 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 01-04-2023. 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 terms 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

1) State Bank of India and its subsidiaries

2) All Nationalized banks
3) Scheduled commercial banks.

H. NPS: With effect from Financial Year 2015-16, in addition to the deduction u/s 80C, additional deduction of Rs.
50,000 is allowed on contribution in NPS (u/s 80CCD(1B)). 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
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 (2) and u/s
80CCD (1B) to the employee under form 16.

Regards,
GPO Team

Regrds,
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