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Tax Regime Declaration for FY 2024-25

The document outlines the procedures for employees to declare their investment details for tax calculations under the Old Tax Regime for the Financial Year 2024-25, with a submission deadline of February 28, 2025. It includes a form for employees to provide necessary information regarding deductions under various sections of the Income Tax Act, as well as a declaration for House Rent Allowance relief. Employees must ensure accurate reporting to avoid full tax deductions from their salary.

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0% found this document useful (0 votes)
8 views4 pages

Tax Regime Declaration for FY 2024-25

The document outlines the procedures for employees to declare their investment details for tax calculations under the Old Tax Regime for the Financial Year 2024-25, with a submission deadline of February 28, 2025. It includes a form for employees to provide necessary information regarding deductions under various sections of the Income Tax Act, as well as a declaration for House Rent Allowance relief. Employees must ensure accurate reporting to avoid full tax deductions from their salary.

Uploaded by

kusumdeshmukh661
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

The Realtor’s Concierge

As per Income Tax the New Tax Regime is a default tax regime for all taxpayers. Employees
who are desirous of opting Old Tax Regime for the Financial Year 2024-25 (Α.Υ. 2025-2026) are
ONLY requested to submit the relevant information in hard copy for claiming exemption under
Section 80 of the Income Tax Act, 1961, the latest by the 28th February 2025. Otherwise,
calculations will be made under New Tax Regime and tax will be deducted accordingly.

The Realtor’s Concierge

Submission of Investment Declaration/Proof - Financial Year 2024-25 for Calculating T.D.S.


(A.Y. 2025-26)

Employee Name PAN (Mandatory) DOB Contact no. & Email


id

Please provide the basis for tax calculation:

Old Tax Regime or New Tax Regime*:

*There is no deduction available under Chapter VI A of the Income Tax Act, 1961 in the New
Tax Regime U/S 24

Sl. No. Deduction Under Section Amount (Rs.)


80C

1 Housing Loan - Repayment


of Principal and Interest (with
breakup of both)

2 Provident Fund/Public
Provident Fund/ National
Savings Certificates

3 Sukanya Samriddhi Scheme


4 ELSS / Mutual Fund (Tax
savings exempt u/s 80C only)

5 Unit Linked Insurance


Scheme

6 Payment of Life Insurance


Premium

7 Children Education Fees


(Only Tuition Fees) (Max. 2
Children)

8 Five Years Tax Savings Fixed


Deposit (Bank/Post Office)

9 Pension Plan (80CCC)

10 Investment in NPS (80CCD)


(Additional Investment in
NPS Tier I)**

Aggregate amount of investments u/s 80C, 80CCC Rs.1,50,000/-+ u/s 80CCD(1b) Additional
deduction of Rs.50,000/- for NPS

**Please provide the details of the voluntary contribution in NPS (Tier-I)(Other than deducted
from Salary)

Other deductions under Chapter VI-A

Item No. Description Amount (Rs.)

12 Mediclaim - U/S 80D (Self &


family)

13 Mediclaim - U/S 80D


(Parents)

14 Payment of Education Loan


Interest - U/S 80E
15 Physically Handicapped -
80U (Pls. submit Form 10-IA)

I hereby declare that what is stated above is correct. I undertake to inform any change in the
above facts. I further undertake to provide all documentary proofs of investment details before
28th February 2025 and if I fail to do so, the employer can make full deduction of income tax
dues from my salary.

Date:

Signature of Employee

DECLARATION FOR HOUSE RENT ALLOWANCE RELIEF – FINANCIAL YEAR 2024-25

Details of rent actually paid:

a. Address of residential property in respect of which rent paid

Employee Name PAN (Mandatory) DOB Contact no. & Email


id

b. Name of Landlord:

c. PAN No. of Landlord to whom rent is paid*

d. Rent payable / paid during the Financial Year: Rs.

[Link]. Month Amount Paid / Payable

1 April, 2024

2 May, 2024

3 June, 2024

4 July, 2024
5 August, 2024

6 September, 2024

7 October, 2024

8 November, 2024

9 December, 2024

10 January, 2025

11 February, 2025

12 March, 2025

* PAN No. of Landlord is compulsory in case of Rent paid is equal to or more than Rs.1,00,000/-
per year. (Please attach a copy of the Lease / Rent Agreement. In case no agreement is
executed submit ORIGINAL rent receipts for April, 2024 and for the current month. In case rent
receipt is not submitted, the relief will not be given.)

DECLARATION:

i. I hereby declare that I shall inform you immediately in case of any change in the monthly rent
stated above or discontinuation of house rent payments. ii. I also declare that no residential
accommodations owned by me by my spouse or by my child or by HUF of which I am a member
at the place where I reside or perform the duties of employment. iii. I hereby declare that what is
stated above is true and correct. Any Income Tax dues arising out of the wrong declaration will
be my sole responsibility.

Signature of Employee

Date:

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