Do I need to submit form 12bb for my new employer?
Dear Shikha ji,
You may kindly go through my latest article @ Investment Declaration & Investment Proof Submission for Income Tax
@sreekanth Yes, you need to submit Form 12BB to your new employer if you want to claim tax deductions on investments, rent, or other eligible expenses. This ensures correct tax calculation in your salary.
Yes, if you want your new employer to consider certain tax deductions/exemptions while calculating your TDS, you can submit Form 12BB along with the required supporting documents.
However, Form 12BB itself is not a mandatory Income-tax return form. It is essentially a declaration of eligible claims such as HRA, home-loan interest, and specified deductions to your employer.
If you have no such claims to declare, you generally don't need to submit Form 12BB.
