Tax proofEMPLOYEE PROVISIONAL INVESTMENT DECLARATION FORM FOR THE FINANCIAL YEAR 2014-2015GPS ID50000193No of school going childrenEmployee NameCHANDA HARISHDate of Joining2.02.2014A. Rent Paid details for Claiming HRA ExemptionSl. No.From DateTo DateLocationRent Per Month11.04.20141.05.2014Nandyal7,00021.05.20141.06.2014Nandyal7,00031.06.20141.07.2014Nandyal7,00041.07.20141.08.2014Nandyal7,00051.08.20141.09.2014Nandyal7,00061.09.20141.10.2014Nandyal7,00071.10.20141.11.2014Nandyal7,00081.11.20141.12.2014Nandyal7,00091.12.20141.01.2015Nandyal7,000101.01.20151.02.2015Nandyal7,000111.02.20151.03.2015Nandyal7,000121.03.20151.04.2015Nandyal7,000B. Medical and LTA ReimbursementsAMOUNT1Medical Reimbursement u/s 17(2)2Leave Travel Assistance u/s 10(5)C. Chapter VIA Deduction other than deduction in Part D of this documentAMOUNT1Rajiv Gandhi Equity Saving Scheme (RGESS) u/s 80CCG2Medical Insurance Premium (U/S 80D)3Medical Insurance Premium (U/S 80D) For Senior Citizen4Medical Treatment / Handicapped Dependent (U/S 80DD) < 80% Disability5Medical Treatment / Handicapped Dependent (U/S 80DD) > 80% Disability6Interest on Education Loan u/s 80E7Interest on Housing Loan u/s 80EE8Permanent Physical Disability (80U)9Permanent Physical Disability (Severe Disability(80U))D. Chapter VIA Deduction 80C, 80CCC, 80CCD deduction - Maximum Limit Rs. 1,00,000/-AMOUNT1Life Insurance Premium340002Public Provident Fund - PPF3National Savings Certificates - NSC4Equity Linked Savings Scheme - ELSS5Unit Linked Insurance Premium - ULIP6Education Fees (Tuition Fees)7Mutual Fund8Contribution To Pension Fund (Under Section - 80CCC)9Tax Saving Bonds10Home Loan Principal115 Years Fixed Deposit in Scheduled Bank125 Years Post Office Time Deposit13Any Approved Pension SchemeE. Loss from House PropertyAMOUNT1Self Occupied Property - Interest Paid during the current year2Let-out Property-(1). Rental Income(2). Municipal Tax / Other tax paid for property(3). Repair & Maintenance charges0(4). Interest paid during current year excluding the amount claimed u/s 80EE, if any(Loss )/ Income from Let out House Property0F. Previous Employment Income - (If DOJ in Syngenta is after 1st April of the financial year for which this declaration is done, kindly furnish the details requested below as considered by the previous employer)AMOUNT1Salary Income after Section 10 Exemption2Professional Tax deducted3Provident Fund / Voluntary Provident Fund Deducted4Income Tax DeductedDECLARATION:I hereby declare that the information given above is true and correct. I undertake to inform immediately of any change in the above facts. Any Income Tax Liability arising out of a wrong declaration will be my responsibility.Date:Signature of EmployeeNote:Please click here to know more about investment declaration guidelinesDocuments should not be submitted now and should only be submitted with the final declaration

INVESTMENT DECLARATION FORM FOR THE FINANCIAL YEAR 2014 - 15

IMPORTANT

1. Please note that investments /payments made during the year April 2014- March 2015 alone will be considered.

2. Please note that investment in Kisan Vikas Patra (KVP) is not eligible for deduction u/s 80C.

3. Donations to Charitable or Religious Trust: Sec.80 G benefit can be claimed only at the time of filing your Income Tax returns. The employer cannot give the benefit at the time of deducting Salary TDS.

4. Section 80 DDB (Deduction for Medical Treatment): Section 80 DDB benefit can be claimed only at the time of filing your Income Tax returns. The employer cannot give the benefit at the time of deducting Salary TDS.

5. Interest paid on Housing Property Loan: The construction of the house should be completed and the house should be occupied (either by self or let out) within the financial year in order to get the benefit under Sec.24.

6. In case the investment declaration forms are not received by the due date, TDS will be deducted based on the assumption that there is no investment.

Relevant provisions of the Income Tax Act, 1961 with reference to Salary Income

DEDUCTIONS AVAILABLE UNDER INCOME TAX ACT FOR SALARIED EMPLOYEES

A. HRA Exemption u/s 10(13A):

An employee who does not pay rent for his/her accommodation is not eligible to claim HRA exemption. Exemption under this section is allowed for those employees who pay rent for their accommodation. The exemption is restricted to a minimum of:

i. Actual HRA received

ii. Actual Rent paid Less 10% of the salary

iii. 50% of the salary if the rented house is situated at Mumbai, Chennai, Kolkata and Delhi and 40% of the salary in any other case.

HRA received, which is in excess of the above limits, is taxable. Salary for this purpose means, Basic, DA, ADA, FDA, VDA.

Documents required to avail HRA Deduction

Copy of House Lease Agreement or

Rent receipts given by Landlord

The above proofs should give details of

Name and address of landlord

Address of rented premises for which rent paid

Period for which rent paid & the amount

Note: If the Annual Rent paid by the employee exceeds Rs.2,00,000 per annum, it is mandatory for the employee to report the PAN Number of the Landlord. In case the landlord does not have a PAN Number, a declaration to this effect from the Landlord, along with the Complete Name and Address of the Landlord should be filed by the employee.

B. Interest paid on Housing Loan for self-occupied property u/s 24

i. Interest paid on housing loan can be deducted against salary income.

ii. House property should be in the name of the employee who claims this deduction.

iii. If the capital for acquisition/construction of house is borrowed before 01-04-1999, the salary income can be deducted against interest paid subject to maximum of Rs.30000 per annum.

iv. If the capital for acquisition/construction of house is borrowed on or after 01-04-1999 and the construction/purchase is completed before during the financial year, the salary income can be deducted against interest paid subject to maximum of 1,50,000 p.a. post completion of the house.

v. For the interest paid pre-completion, 20% of such interest can be offset in each year for the next 5 years post completion subject to the limit of offset stated in point iv and v not being more than 1,50,000/-

vi. If Loan is borrowed for reconstruction, repairs or renewals of a house property, then the maximum deduction on account of interest is Rs.30,000/- (and not Rs.1,50,000/-).

C. Interest paid on housing loan for let out property u/s 24

Rent received from let out property should be disclosed as an income. From the above income following deductions can be claimed.

i. Property tax paid during the year for the let out property by the landlord.

ii. 30% of Net Annual Value (Rental Income less Property tax) can be claimed for repairs and maintenance of the house irrespective of the expenses incurred.

iii. Interest payable on housing loan for let out property

Documents required for availing Interest Deduction:

Certificate from Financial Institution / Bank for the interest payable on housing loan giving the breakup of interest and principle repayment and the date of loan sanction.

Dully Signed Declaration Form with details of House Property whether it is self-occupied or let out.

D. Deductions allowed under Section 80C, 80CCC, 80CCD:

i. Payment of Life Insurance Premiums for Self/Spouse/Children.

ii. Premium in Pension Scheme of LIC or any other insurer u/s 80CCC

iii. Contribution to any pension fund set up by any approved Mutual Fund on this behalf

iv. Contribution to Public Provident Fund for Self/Spouse/Children.

v. Contribution to Unit Trust of India for Self/Spouse/Children for participation in the Unit-linked Insurance Plan, 1971 specified in Schedule II of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 (58 of 2002);

vi. Contribution in the name of Self/Spouse/Children for participation in any such unit-linked insurance plan of the LIC Mutual Fund

vii. Investments in National Savings Certificate.

viii. Principal repayment on Housing Loan and Stamp Duty / Registration Charges paid for the House property during the first year of investment.

ix. Tax Saving Bonds

x. Investments in specified Mutual Fund or Equity Linked Saving Scheme / Systematic Investment Plan (SIP).

xi. Tuition fees for Self/Spouse/Children.

xii. Approved tax saving Fixed Deposits (With Minimum Lock in period of 5 Years).

xiii. Investment in Post Office Time Deposits (With Minimum Lock in period of 5 Years).

xiv. subscription to any such deposit scheme of, or as a contribution to any such pension fund set up by, the National Housing Bank as may be approved by the government

xv. Subscription to equity shares or debentures forming part of any eligible issue of capital approved by Income Tax

xvi. Investment in pension scheme created by Government of India u/s 80CCD

Maximum investments under the above investment schemes are restricted to Rs.1,00,000/- per year.

Documents required to claim rebate:

Copy of Proof of Investment made during the current financial year.

E. Rajiv Gandhi Equity Saving Scheme (RGESS) u/s 80 CCG Salient features of this scheme:

i. Deduction is available to a resident individual, if his gross total income does not exceed 12 lakhs

ii. The assesse is a new retail investor

iii. The investment is locked-in for a period of 3 years

iv. The maximum investment under the scheme is Rs.50,000/-

v. The Investment under the Scheme gets a 50% deduction of the amount invested from the taxable income for that year

vi. The amount of deduction under this section cannot be more than Rs.25000.

F. Mediclaim Insurance u/s 80D

i. Medical Insurance premium is exempt up to 15,000/- per year for self, spouse & dependent children.

ii. An additional 15,000/- is exempt towards premium for parents (even if they are not dependent).

iii. If the parent(s) are above 65 years of age, the insurance premium stated in clause ii can go upto Rs.20,000/-

iv. Instead of medical insurance, if clause i and ii above are used for preventive health check-up, deduction up to Rs.5000/- is allowed

Documents required:

Current Year Receipt for payment of mediclaim insurance premium.

G. Deduction in respect of maintenance, including medical treatment, of a disabled dependent u/s 80DD

i. The amount of deduction is

50,000 to a person with disability,

1,00,000 to a person with severe disability

ii. Dependent includes the spouse, children, parents, brothers or sisters

iii. disability" shall have the meaning assigned to it in clause (i) of section 248 of the Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995 (1 of 1996) [and includes "autism", "cerebral palsy" and "multiple disability" referred to in clauses (a), (c) and (h) of section 2 of the National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999 (44 of 1999)];

iv. "person with disability" means a person as referred to in clause (t) of section 250 of the Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995 (1 of 1996) [or clause (j) of section 2 of the National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999 (44 of 1999)];

v. "person with severe disability" means

a person with eighty per cent or more of one or more disabilities, as referred to in sub-section (4) of section 56 of the Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995 (1 of 1996) or

a person with severe disability referred to in clause (o) of section 2 of the National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999 (44 of 1999)

vi. No deduction should have been claimed u/s 80U.

Documentation

A copy of the certificate issued by the medical authority in the prescribed form and manner

Proof of Payment

Note: medical authority" means the medical authority as referred to in clause (p) of section 250 of the Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995 (1 of 1996) [or such other medical authority as may, by notification, be specified by the Central Government for certifying "autism", "cerebral palsy", "multiple disabilities", "person with disability" and "severe disability" referred to in clauses (a), (c), (h), (j) and (o) of section 2 of the National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999 (44 of 1999)];

H. Deduction in respect of person with disability u/s 80U

i. Deduction is allowed to a person (self) suffering from disability under sec 80U. The amount of deduction is:

a. 50,000 to a person with disability

b. 1,00,000 to a person with severe disability.

ii. Definitions and proofs as stated in G above hold good for this section as well

I. Repayment of Education Loan u/s 80E

i. The total amount of interest paid for self and dependents (spouse/children /children to whom self is legal guardian) towards education loan taken for higher education pursued after Senior Secondary Examination will be allowed as deduction over a period of 8 years or until the interest is paid by the assesse in full, whichever is earlier.

Documents required to claim deduction:

Proof for repayment of educational loan for the amount claimed

J. Introduction of new section 80EE: Additional deduction of interest on housing loan of up to Rs.100000 to first time home buyers

ii. A deduction of up to Rs.100000 allowed over and above that of u/s 24

iii. Loan has to be taken from a financial institution (banking company or housing finance company) of up to Rs.2500000 between 1st April, 2013 and 31st March, 2014 to acquire a residential property valued up to Rs.4000000.

iv. Person should not own any residential house property as on the date of sanction of loan.

v. If the deduction entire of Rs.100000 as above could not be claimed in FY 2013-14, then the balance can be claimed in FY 2014-15.

K. Medical Treatment Expenses Reimbursement u/s17(2)

i. Exemption is available on expenses incurred for you and your family for any diseases except cosmetic treatment and eye glasses. Exemption limit is Rs.15000 per year, supported by adequate documents.

Documentation

Chemists original receipts

Doctors original receipts

L. Leave Travel Assistance (LTA) u/s10(5)

i. Expenses you have incurred on travelling with your family within the country can be claimed as exemption under Section 10(5)

ii. Expenses on hotel rooms, sightseeing, food, etc, cannot be included.

iii. The family can comprise you, your spouse, two children, brothers, sisters and parents, if they are dependent on you. "You cannot claim for more than two children unless the second birth has resulted in multiple children,"

iv. Expenses can only be claimed for travel by the shortest possible route.

v. The tax exemption is limited to the fare component, which is economy class air fare, first class AC rail fare or first/deluxe class bus fare. However, if there is no public transport, you can hire a taxi or rent a car and claim for expenses equivalent to first class AC rail fare.

vi. It can be claimed for only two journeys in a block of four calendar years, which are fixed. "The block of four years are considered according to the Income Tax Act and the current one is from 2014 to 2017,"

Documentation

Tickets (originals where available)

Original boarding passes

Original receipts (bills)

Note: Car, Fuel and Drivers Salary tax benefits for eligible employees who claim the same via salary (not through Concur) will be given based on monthly bills submitted as per the process notified to such employees, which can also be found in myServices.

Tax Slabs and Deductions

Total Income

Rate of Tax

Up to Rs. 2,00,000/-

NIL

Between Rs.2,00,001/-to

Rs.5,00,000/-

10% of income above Rs. 2,00,000/- + 2% Education Cess +1% Secondary and Higher Education Cess

Between Rs.5,00,001/-to

Rs.10,00,000/-

Rs.30,000 + 20% of income above Rs.5,00,000 and less then Rs.10,00,000 + 2% Education Cess + 1% Secondary and Higher Education Cess

Above Rs.10,00,000/-

Rs.1,30,000 + 30% of income above Rs.10,00,000 + 2%

Education Cess + 1% Secondary and Higher Education Cess.

Note: 10 % surcharge is applicable on total income

exceeding Rs. 1 Crore.

In addition a rebate of Rs 2000 will be available for income less than Rs 5 lakhs.

Income above 1 crore to attract 10% tax surcharge.