Guide to Submit Investment Proofs to employer
We are approaching year end now, it’s the time wherein all the employers ask for the proofs for the investment declared by the employees at the beginning of the year. But what is the proof for each of our investment or the deduction we are claiming and in what manner should we submit to the employer is a critical point as the employer has a responsibility of ensuring the appropriateness of our investment and deductions which directly impact the taxability of the income of the employees.
Below is a summary of documents that needs to be submitted for various deductions, exemptions which the employee wishes to obtain.
The employer’s responsibility does not end at just collecting documents. But he must also verify the legitimacy of the documents and the deduction or exemption claimed. Employee also must fulfill his obligation by submitting the proper documents to his employer.
Disclaimer:“The information contained herein is only for informational purpose and should not be considered for any particular instance or individual or entity. We have obtained information from publicly available sources, there can be no guarantee that such information is accurate as of the date it is received, or it will continue to be accurate in future. No one should act on such information without obtaining professional advice after thorough examination of particular situation.”