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Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 1
Index Interest on Higher Education Loan .......................................................................................................... 2
Loss on House Property (LOHP) .............................................................................................................. 3
i. Format of declaration for Joint Ownership .................................................................................... 4
ii. Format for Declaration of LOHP ..................................................................................................... 5
House Rent Allowance (HRA) .................................................................................................................. 6
i. Where monthly HRA <= INR 3,000 ................................................................................................. 6
ii. Where HRA> INR 3,000 & Rent <= INR 15,000 ............................................................................... 6
iii. Where HRA> INR 3,000 & Rent > INR 15,000 ................................................................................. 6
iv. Format of Rent Receipt ................................................................................................................... 8
v. Format of no PAN declaration by landlord ..................................................................................... 9
Life insurance premium ......................................................................................................................... 10
Repayment of Principal on Housing Loan ............................................................................................. 12
School tuition fees ................................................................................................................................. 13
Fixed Deposits ....................................................................................................................................... 14
Mutual Funds – Equity Linked Savings Scheme (ELSS) .......................................................................... 15
Pension Fund (u/s 80CCC) ..................................................................................................................... 16
Infrastructure Bonds ............................................................................................................................. 17
Stamp Duty / Registration Fees for House property ............................................................................. 18
Contribution to National Savings Certificate or National Savings Scheme (NSC/NSS) ......................... 19
Unit Linked Insurance Plan (ULIP) ......................................................................................................... 20
Accrued Interest – NSC .......................................................................................................................... 21
Long Term Infrastructure Bonds (u/s 80CCF) ........................................................................................ 22
Medi-claim Insurance premium (u/s 80D) ............................................................................................ 23
Maintenance of physically challenged (u/s 80DD / 80U) ...................................................................... 24
i. Certificate for Person with Disability ............................................................................................ 25
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 2
Interest on Higher Education Loan
Provisional Certificate for current Financial year (breakup of the Principal and
Interest) for the amount due to be paid from the bank or Institution has to be
provided.
Interest portion can only be claimed.
The year in which the loan was availed has to be mentioned.
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 3
Loss on House Property (LOHP)
Provisional Certificate for current Financial Year (breakup of the Principal and
Interest) for the amount due to be paid from the bank or Institution.
Proof of ownership (Electricity Receipt/Property tax receipt/ Sale Deed).
Form of verification needs to be attached in the prescribed format (refer below).
Notes:
o Property should be in the name of the associate to claim the tax benefit.
o Construction should be completed & occupied or let-out to claim the tax
benefit.
o Builder‘s completion certificate needs to be attached.
o Construction agreement with the builder will not be accepted.
o Both HRA & Housing Loan (as self-occupied property) cannot be claimed if
both properties are in the same city.
o Self-occupied cannot be claimed for location other than the location of actual
residing by the employee.
o Receipt for the municipal tax paid during current financial year needs to be
attached if the property is let-out and tax amount is updated in MyPay.
o All relevant documents should be uploaded separately for claiming principal
& interest benefits.
o If the self occupied property is on Joint Ownership, associate needs to submit
a declaration form from other joint owner/s in case such amount claimed is
over and above his/her share in the property.
o If the Let-out property is on Joint Ownership, associate shall claim only to the
extent of his/her share. No declaration is required for such cases.
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 4
i. Format of declaration for Joint Ownership
Declaration for Joint Ownership
To whomsoever it may concern
This is to inform that I /we ……………………………………………………………………………………..presently residing at …………………………………………………………………………………………………………………………………… ………………………………………………………………………………………………………… wish to state that I / we am / are one of the co- owner (s) of the property situated at ………………………………………………………… ……………………………………………………………………………………………………………………………………………………… The interest paid on the borrowed capital for the said property for which I do not intend to claim in my tax return for the fiscal year _______ and I have no objection for the claim of the interest by……………………………………………………………………………………………………who is a joint owner with me of the said property either in full or 50% of the interest outgo on the borrowed capital for the said financial year _______.
Signature (s) ……………………………………………………………………………………….. ……………………………………………………………………………………….. ………………………………………………………………………………………..
Place :
Date :
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 5
ii. Format for Declaration of LOHP
Form of Verification Please read the Instructions below before you fill up this form.
1. In case of self-occupied property, please fill up only A(c), B, C and D.
2. In case of let-out property:
i. Fill up estimated rental income for the year in A (a) ii. Repairs can be a maximum of 30% of A (a) less A (b).
3. Preconstruction interest means interest paid up to the year in which construction of the property
was completed. This interest can be claimed in five equal installments from the year in which the construction of the property was completed and four subsequent years.
4. Fill up the total loan availed in C.
5. Since you are furnishing the estimates, modify and resubmit, whenever there is a change
______________________________________________ (A) Computation of income under the head “Income from House Property”
(a) Gross Annual Rent / Value : Rs.
(b) Municipal taxes (Property tax) paid, if any : Rs.
(c) Deduction claimed for Interest paid, if any : Rs.
I. Interest accrued for the year : Rs.
II. Preconstruction interest, if any (1/5th
) : Rs.
(d) Other deductions claimed
III. Repairs : Rs.
(B) Address of the property :
(C) Amount of loan, if any and : Rs.
(D) Name and address of the lender (loan provider) :
I, ___________________ (name of the assesse), do declare that what is stated above is true to the best of my
information and belief.
Place :
Date :
Signature of the associate
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 6
House Rent Allowance (HRA)
i. Where monthly HRA <= INR 3,000
If your monthly HRA is upto INR 3,000, there is no need to submit any documents. It
is enough if Rent values are updated and submitted in Mypay.
ii. Where HRA> INR 3,000 & Rent <= INR 15,000
If your monthly HRA is greater than INR 3,000 and your monthly rent payments are
less than or equal to INR 15,000, you would need to submit the following documents:
Original rent receipt for any one month. Note that any rent revision during the year
would need to be supported with a renewed lease agreement and rent receipt (refer
below for format).
A copy of Lease Agreement. In absence of lease agreement, rent receipt should
contain the Cheque / EFT details and additional supporting document like bank
statement extract/payment screenshot to be provided.
iii. Where HRA> INR 3,000 & Rent > INR 15,000
If your monthly HRA is greater than INR 3,000 and your monthly rent payments are
greater than INR 15,000, you would need to submit the following documents:
Original rent receipt for any one month. Note that any rent revision during the year
would need to be supported with a fresh receipt. (refer below for format)
A copy of Lease Agreement. In absence of lease agreement, rent receipt should
contain the Cheque/EFT details and additional supporting document like bank
statement extract/payment screenshot to be provided.
PAN of the Landlord (or) the Declaration from Landlord if he/she does not have a
PAN. (refer below for format)
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 7
Notes:
o The format for the rent receipt is given below. Please ensure that your receipt
includes all the Information mentioned in the format.
o Please note that only the amount paid towards rent is eligible for exemption.
Other amounts paid, such as maintenance charges, electricity bill, etc., food in
case of paying guest accommodation are not eligible for exemption.
o Lease period (start date and end date) should be clearly mentioned in the
lease agreement.
o In case of lease agreement which does not cover the entire period of current
financial year a copy of the new/renewed rental agreement has to be
submitted on or before 24th of the month following the month in which the
new accommodation or renewal of the existing accommodation is done.
o PAN of Land lord will be validated for its correctness before approval.
o The Rental Agreement should be in a Stamp Paper. Renewal of lease
agreement also to be in Stamp paper only.
o In case of Hostel accommodation, rent receipt in the hostel’s letter head or
pre-printed receipt book can be submitted towards rent payment proof.
o In case if there is no lease agreement, PAN of the Hostel Owner is to be
provided or the Non PAN declaration from the Hostel Owner, is to be
provided in the prescribed format given below irrespective of the rent
amount.
o In case the lease is taken on joint names and if the total amount of rent paid
is more than Rs. 15,000 per month, PAN number or declaration for not having
PAN (as the case may be) from Landlord is required irrespective of the fact
that the share of the associate is lesser than Rs.15,000 per month.
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 8
iv. Format of Rent Receipt
Rent Receipt
Received a sum of Rs.………………… /- (Rupees ……………………………………………………………………
……………………………………………………………………………….) vide cheque no. …………………..drawn
On …………………………………………. Bank dated ……………………………….. from Mr./ Ms. ……………
…………………………………………………………………………………………. residing at …………………………….
………………………………………………………………………………………………………………………………………….
Towards rent for the month of …………………………. 20…..
Place :
Date :
Signature of the landlord
(To be signed on the revenue stamp)
Name of the landlord :
PAN of the landlord :
Address :
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 9
v. Format of no PAN declaration by landlord
Declaration to be provided by the Landlord for Non availability of Permanent Account Number
(PAN)
To whomsoever it may concern
1. Name :
2. Address of the leased property :
3. Are you assessed to tax :
4. Reasons for not having PAN :
5. Details of document being
produced in support of address : (Refer instructions below)
Verification
I, ______________________________ do hereby, declare that what is stated above is true
to the best of my knowledge and belief.
Verified today, the __________________ day of __________________
Date :
Place :
Signature of the Landlord
Instructions:
Documents which can be produced in support of the address are:
(a) Copy of the electricity bill for the leased property (or)
(b) Copy of property tax / water tax payment challan for the leased property
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 10
Life insurance premium
Receipt for Insurance Premium paid during the current financial year.
For online payment - Statement from Insurance Company showing the current year
payments can be provided.
Notes:
o Policy can be in the name of the associate, spouse or children only.
o In case of Single premium policy the amount is restricted to 20% of the actual
capital sum assured.
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 11
Public Provident Fund (PPF)
Front page of the pass book issued by the bank / post office.
Copy of the relevant page(s) containing details of deposit made for the current
financial year.
Notes:
o Account should be in the name of the associates or his/her spouse or minor
children
o Only current year contribution excluding interest accrued, if any can be
claimed.
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 12
Repayment of Principal on Housing Loan
Bank Certificate mentioning the principal repayment to be attached and iIt should
clearly state the purpose as Housing Loan.
Breakup of Interest and Principal should be clearly mentioned in the certificate.
Documents evidencing the ownership of the property. Sale deed, if property is
acquired in current year.
For existing property Electricity Bills / Property taxes payment receipts of the latest
available month for the current financial year
Notes:
o Wherever a HRA benefit is also claimed, the address as disclosed in the
certificate is corroborated with the address furnished in the declaration.
o No Objection Certificate (NOC) /Declaration from spouse or co owner
mentioning that he/ she not claiming the benefit or to the extent of claiming
for the relevant financial year.
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 13
School tuition fees
Receipt issued by the Schools for the payment made during the Current financial year
Notes:
o Only allowed for two children.
o Crèche fees not allowed.
o Only Term fees are allowed. Capitation fee, Donation or any other payments
are not allowed.
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 14
Fixed Deposits
Copy of the Deposit receipts for the investment done during the current financial
year
Notes:
o Period of deposit should be for a minimum of five (5) years with a Scheduled
Bank only. Receipt should contain the words “Issued under tax scheme”.
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 15
Mutual Funds – Equity Linked Savings Scheme (ELSS)
Statement from Asset Management Company for the current financial year
Notes:
o Receipt should be in the name of the associate.
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 16
Pension Fund (u/s 80CCC)
Certificate evidencing payments to pension funds and its eligibility for a deduction
under this section during the current financial year.
Notes:
o Receipt should be in the name of the associate.
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 17
Infrastructure Bonds
Copy of the Bond / Certificate.
Acknowledgement receipt along with account statement evidencing the debit in the
account.
Notes:
o Bond should be in the name of the associate.
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 18
Stamp Duty / Registration Fees for House property
Receipt should have been issued by the Sub registrar office.
Property Completion certificate of the property needs to be attached
Notes:
o Property should be completed within the same financial year of purchase or
registration.
o Amount has to be updated as part of Principal Repayment u/s 80C
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 19
Contribution to National Savings Certificate or National Savings Scheme (NSC/NSS)
Certificate issued under the NSC/NSS scheme in the current financial year has to be
attached
Notes:
o Certificate should be in the name of associate only.
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 20
Unit Linked Insurance Plan (ULIP)
Copy of the Investment certificate / receipt for the current financial year has to be
attached.
Notes:
o Certificate should be in the name of the associate, his/her spouse or children.
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 21
Accrued Interest – NSC
Copy of old NSC Certificate (s) should be attached.
Interest calculation sheet should also be attached.
Notes:
o Associate to ensure Interest shown here should also be included as other
income while filing his/her Income tax return.
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 22
Long Term Infrastructure Bonds (u/s 80CCF)
Copy of the Bond / Certificate.
Acknowledgement receipt along with account statement evidencing the debit in the
account.
If this is invested through Demat account, the Demat account relevant page/s
showing the date of investment and the name of the investor with the Fund name
and amount clearly mentioned.
Notes:
o The investment should be in the name of the associate. If this is joint
investment then the first name should be of the associate
o Please enter the certificate number in the Reference Number field. If you
have invested through Demat account, enter the Transaction number.
o If this is invested through Demat account, the Demat account relevant page/s
showing the date of investment and the name of the investor and the Fund
name and amount should be clearly mentioned.
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 23
Medi-claim Insurance premium (u/s 80D)
Medical insurance premium receipt for the current financial year.
Notes:
o If the policy is in the name of the family member, a declaration from the
family members, stating that the benefit is not being claimed by them and
that the payment is made out of the employee's taxable income, be obtained.
o Family includes spouse, parents or dependent children of the associate.
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 24
Maintenance of physically challenged (u/s 80DD / 80U)
Certificate with details of percentage of disability in Form 10IA (Format of the same is
attached) signed by a Doctor of a Government Hospital.
Notes:
o Self-disability is claimed under sec 80U and dependents under 80DD.
o Handicapped dependent for whom the amount of Medical expenditure is
incurred are spouse, children, parents, brothers and sisters of the associate.
Documents required for Income tax benefits – Financial Year 2011-12
This document reflects the current tax regulations and procedures governed by the Income Tax
authorities. The taxability of perquisites, allowances etc., may be subject to change depending on any
amendments or change in understanding of the tax laws and prevailing at the time of such payments.
Cognizant Finance Confidential Page 25
i. Certificate for Person with Disability
FORM NO. 10-IA
[See sub-rule (2) of rule 11A] Certificate of the medical authority for certifying ‘person with disability’, ‘severe
disability’, ‘autism’, ‘cerebral palsy’ and ‘multiple disability’ for purposes of section 80DD and section 80U
Certificate No. Date: This is to certify that Shri/Smt./Ms._______________________________ son/daughter of Shri_________________________________, age______ years___________male/female* residing at____________________________________, Registration No.__________is a person with disability/severe disability* suffering from autism/cerebral palsy/multiple disability*. 2. This condition is progressive/non-progressive/likely to improve/not likely to improve*. 3. Reassessment is recommended/not recommended after period of__________months/years*.
Sd/- (Neurologist/Pediatric Neurologist/Civil Surgeon/
Chief Medical Officer*) Name:___________________ Address of Institution/Government hospital: ____________________________________ ____________________________________ Qualification/designation of specialist :____________________ SEAL Signature/Thumb impression* of the patient Note: *Strike out whichever is not applicable.