tax exemption

POSTED BY TheZionView ON October 21, 2010 5:15 pm COMMENTS (3)

I am a salaried employee and my company collects the income tax exemption related documents by december of the calendar year. When inquired about investments made during Jan,feb and mar.They said they can provide exemptions if the bill is not provided by december itself.

I am running SIP in 2 ELSS which will take 4K per month that sums up to 12K under 80c and also insurance peremium of 12.5K in Feb.Now how can i claim these amount as company doesnt allow me to claim through them.

Is the income tax returns the only place to claim or is there any other way?

3 replies on this article “tax exemption”

  1. jitendra solanki says:

    Hi Prabeesh,

    Employers allow for the deduction till march.When they are talking about bills it is generally medical reimbursement and rent receipts for which they need them till december.

    In case of ELSS if you show the proof of investment or acknowlegdment form AMC they will consider the deduction.

    I receievd in the same way through my employers.

  2. Prabeesh

    Generally emplyers allow the dedcutions even for the month of Jan ,Feb , Mar, you just have to give a declarations that you will be making the payment. Overall it depends on how friendly your employer is .


  3. rakesh says:

    Why does your employer does not consider this deductions in your monthly salary.
    As far as i see you will have to include them while filing Income Tax returns which would be quite painful since you will be eligible for refund and that would take atleast 3-6 months.


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