Friends,
A format to submit saving proofs to your DDO to calculate TDS on salary is given below for your ready reference and download.
The government of India imposes an income tax on taxable income of individuals. Levy of tax is separate on each of the persons. The levy is governed by the Indian Income Tax Act, 1961. The Indian Income Tax Department is governed by the Central Board for Direct Taxes (CBDT) and is part of the Department of Revenue under the Ministry of Finance, Govt. of India. Income tax is a key source of funds that the government uses to fund its activities and serve the public.
The Statute requires deduction of tax by the employer from the income under the head salary disbursed by him during a financial year on monthly basis and to deposit with the Govt. account within stipulated period.
PAN and address are mandatory. If not furnished, tax at source is to be deducted at the prescribed rates or 20% whichever is higher without giving any rebate/deduction. The proof of savings under various sections of Income Tax Act be submitted as per the following arrangements:
Name
of Office
Section
No.
Dated
Circular / Office Order
The government
of India imposes an income tax on taxable income of individuals. Levy of tax is
separate on each of the persons. The levy is governed by the Indian Income Tax
Act, 1961. The Indian Income Tax Department is governed by the Central Board for
Direct Taxes (CBDT) and is part of the Department of Revenue under the Ministry
of Finance, Govt. of India. Income tax is a key source of funds that the
government uses to fund its activities and serve the public.
The Statute requires
deduction of tax by the employer from the income under the head salary disbursed
by him during a financial year on monthly basis and to deposit with the Govt.
account within stipulated period.
PAN and
address are mandatory. If not furnished, tax at source is to be deducted at the
prescribed rates or 20% whichever is higher without giving any
rebate/deduction.
The proof of
savings under various sections of Income Tax Act be submitted as per the
following arrangements:
Arrangements
|
By 30th November 2012
|
By 15th February 2013
|
Annexure
|
I & II along- with proof of
the savings (Self-attested) till Nov. 30th 2012.
|
Only the documentary proof (Annexure
need not be sent again) of the proposed savings (self- attested) declared in
annexure II.
|
Declaration
|
Declaration of Proposed savings
in the prescribed column in annexure II which are proposed to be made after 30th
November 2012 for 2012- 2013.
|
Proposed saving s or proof o f the
savings will not be considered after this date, even if submitted.
|
Last Date
|
30th November 2012
|
15th February 2013
|
In case, no
declaration is received by November 30t h 2012, due tax will be deducted as per
the current tax structure.
Encl.: As above
Accounts Officer
Income Tax Rates for the Financial Year 2012-2013
For All Assesses:
|
|
Upto Rs.2,00,000/-
|
NIL
|
Rs.2,00,010/- to Rs.5,00,000/-
|
@10% of (total income minus Rs.2,00,000)
|
Rs.5,00,010/- to Rs.10,00,000/-
|
Rs. 30,000/- + 20% of (total income
minus Rs.5,00,000)
|
Rs.10,00,010/- & above
|
Rs.1,30,000/- + 30% of (total income
minus Rs.10,00,000)
|
Note:
1. Education Cess 2% +Secondary and Higher Secondary Education Cess 1% Education Cess is applicable (2% +1%) @ 3% on income tax
2. Threshold limit of exemption from personal income tax in the case of all assesses is Rs. 200,000. The threshold limit for a resident woman assessee is Rs. 200,000, while for a resident senior citizen over 60 years is Rs. 250,000 and for senior citizen over 80 years is Rs. 500,000.
3. The last date for filing of individual income tax return with the ITO is 31st July 2013.
4. Tax payers with salary income of up to Rs. 5 lakh and interest from savings bank accounts up to Rs. 10,000 is not required to file income tax returns.
5. Deduction in respect of subscription to Long Term Infrastructure Bonds: Section 80CCF has been withdrawn from FY 2012-13. Hence no deduction is allowable under this section for the current FY on wards.
6. as per the section 80CCE the aggregate amount of deduction under sections 80C, 80CCC and Section 80CCD(1) shall not exceed Rs. 1,00,000/-. However the contribution made by the Central Government or any other employee to a pension scheme u/s 80CCD(2) shall be excluded from the limit of Rs.1,00,000/- provided under this Section
Accounts
Officer
_________________
_________________
_________________
Subject: - Submission of proof
of savings for tax calculation purposes -financial year 2012-13
Sir,
Please find enclosed
herewith my declaration of tax savings (at A-4 size papers) and other income
during the financial year 2012-2013 in annexure-I and annexure-II duly supported
with the documentary evidence(s) & self-attested as per the following arrangements:
1. The enclosures are serially numbered and mentioned in the
annexure at the relevant point.
2. I also certify that particulars furnished are true and
correct to the best of my knowledge and belief.
3. I also certify that these savings have been made by me
from my own salary income/ sources.
4. Proof of the proposed savings declared in annexure I &
II, will be submitted latest by 15th Feb.2013.
5. I understand if I am unable to submit the self-attested saving
proofs for the current savings by November 30t h 2012 & proposed savings evidences
by 15t h February 2012, due tax may be deducted from my salary for the month of
February and March 2013 without any further intimation to me.
6. I will be personally responsible to Income Tax Department,
Govt. of India, for all information pertaining to income tax assessment.
Thanking you
Encl. Annexure –I and II
Yours
faithfully,
Signature_______________________________________
Name__________________________________________
Office/Section ___________________________________
Mobile
No. _____________________________________
E.mail.
ID_______________________________________
