Avoid higher TDS with timely, accurate submission of investment proof

For investments made after proof has been submitted to the employer, claim refund in ITR

Bindisha Sarang Mumbai

Photo: Shutterstock

If you are a salaried employee, an email from your accounts department asking for proof of tax-saving investments made during the current financial year must have already reached your inbox. In April 2022, you would have declared to your employer the tax-saving investments you intend to make during the year so that it could deduct tax accordingly. Now is the time to provide documents in support of that declaration.  
From FY 2020–21, employees have been allowed to choose between the old and the new tax regime. Anu Sura, counsel, PSL Advocates & Solicitors, says, “An employee who opts for the new tax regime needn’t submit any proof to the employer.”
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First Published: Jan 23 2023 | 7:13 PM IST

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