Broad Guidelines and Documents required for availing tax benefit under various

sections of income tax act:-

Mentioned below are some broad guidelines related to submission of investment proofs.
Please read them carefully before submitting your investment proofs:

1. Rent Receipts:

Please provide one receipt per quarter (April to June, July to September, and October to
December and January to March) along with a letter specifying that the rent amount for that
period remained the same. Rent receipts must state name of tenant, name of landlord,
address of the property, amount of rent, concerned month and receiver’s signature on the
revenue stamp.

2. LIC: -

a. Photocopy of all premium receipts paid from April '10 till December '10 attested by the
employee. In case any premium are due after 15th-Jan-11, then please prepay them and
provide us the receipt of the same.

b. If the same is not possible then provide us the last receipt paid for the same policy along
with a declaration stating that the premium for the same will be paid by the due date (max.
by 5th March 2011) and in case of any default the tax along with the interest, if any, may be
deducted from your salary.

3. PPF: - Photocopy of deposit Challan and photocopy of PPF Passbook attested by the
employee.

4. NSC: - Photocopy of all NSC certificates purchased in the current year and for all
NSC's purchased in the last 5 years (if any) attested by the employee.

5. ULIP: - Photocopy of all premium receipts attested by the employee.

6. Infrastructure Bond: - Photocopy of acknowledgement of application and final

certificate attested by the employee. If certificate is not received so far, also submit the
bank statement showing the payment of the same.

7. Medical Insurance: - Photocopy of the receipt of premium paid attested by the

employee.

8. Children Education Fees: - Receipts of tuition fees paid duly attested by the
employee.

9. Fixed Deposit: - Receipt of Fixed Deposit made for 5 years or more.

10. Repayment of Housing Loan: - You will have to submit the following
documents to claim the benefit of interest on Housing Loan:
 I. Certificate from the lender stating the breakup of principle and interest amount
separately.

II. Proof of ownership and possession of the house which may be in form of
electricity bill, water bill, House tax Bill or any other bills from the concern authority
showing your ownership (telephone bill is not applicable).

III. Statement showing calculation of loss from house property (Form 12 C) attached
herewith.

Please note that if the loan is in joint name, then the ownership of the house property
should also be in the name of the employee - which can be partly or fully. In this case you
also need to give us a declaration from the joint owner stating that he shall not be
claiming any tax benefit from the house or shall be claiming ½ shares, as the case
may be.

Further, please note that the Interest on housing loan paid for self-occupied property will be
considered as deduction from taxable income subject to below mentioned limits.

Where the loan is taken on or after April 1, 1999 - 1,50,000

Where loan is taken earlier - 30,000

Benefit of interest on loan taken to construct/ purchase of house can only be given in case
the possession/ construction of the house property is fully completed.

Further the employee, who is claiming the benefit for HRA rebate for having the rented
property in the same city, can not be given both the benefits but if the self occupied
property is located at a place other than the place where he is supposed to perform his duty
then both the benefits will be given. Also, any interest paid in pre-construction or pre-
acquisition period, will be allowed as deduction in five equal installments and first such
installment is deductible in the year in which construction of the house is completed or
possession of house is taken.

11. Interest on Education Loan: - Provisional statement of EMI break-up into interest &
principal.

If you have any query please write a mail to payroll.schindler@sgcservices.com