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When under employment you need to submit tax proof to the employer. And if the tax proofs are not submitted within the deadline as specified by the employer (usually between Jan and mid-March) the deduction or exemption is not provided in your Form 16. Don’t worry if you are in this situation as there is still a way to save tax and get a refund from Income Tax Department in case your employer has deducted higher taxes.

hra and home loan

The exemptions and deductions that your employer would have given in your Form 16 if the proofs were submitted, can claim at the time of e-filing.

Let’s take a look at these Exemptions & Deductions that you can claim even though you are past the deadline of tax proof submission of your employer:

Claim HRA in your Return: Forgot to submit rent receipts to your employer on time? Don’t worry! If you live on rent and have made rent payments you can claim deduction on House Rent Allowance at the time of filing your return. All you need is your rent receipts and PAN of your landlord (where rent payments are more than Rs 1,00,000 per annum). Here is our HRA calculator you can use to find out how much HRA will be exempt from tax. This calculator is inbuilt in clear tax under salary section.The exempt HRA is calculated and reduced from the Taxable Salary.

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Claim deductions under section 80C with no investments: Section 80C allows you to reduce Rs 1,50,000 from your taxable income. You can view the entire list of deductions allowed under section 80C here.

If you were not able to submit the details of your Section 80C deductions to your employer timely, you can claim them in your Income Tax Return.

You can claim them during return filing, even though they don’t appear on your Form 16 since you did not have the time to intimate your employer. Or you may have made those investments after the last date given by employer for proof submission (but you make investments for deductions before 31st March of the financial year).

Say you made some investments to claim Section 80C deduction – deposits to PPF, paid life insurance premium or purchased NSCs. You can easily claim them while filing your IT Return. Have the required details ready with you for e-filing and claim them.

You will notice that not all of the listed deductions require investment. Some of these are expenses which you may have done during the financial year. So if have not been able to fill up your cup with investments these expenses will come to your rescue. Claim them while filing your Return.

Claim these deductions under section 80C without making any additional investments. You can sum up all these expenses and add them to the deduction under Section 80C on ClearTax. Here is the list:

  • Your share of PF Contribution: This is the amount which gets deducted from your salary as your contribution in Employee’s Provident Fund Scheme or Recognized Provident Fund. If you know your basic salary this amount is 12% of your basic.
  • Children’s Tuition Fee Payment: Any tuition fees paid by you for the education of your children (maximum 2) is allowed under section 80C. This payment may have been made to any school, college, university or other educational institution situated within India for the purpose of full-time education of your children. It includes payments for play school, pre-nursery, and nursery.
  • Principal Repayments on Loan for purchase of House Property: Payments made towards principal repayment of a loan taken for buying or constructing a residential house property is also allowed as a deduction.
  • Stamp duty & registration fees and other expenses: these expenses incurred for purpose of transfer of the property to the taxpayer can be claimed as a deduction. However, if you transfer the property before the end of 5 years from the year in which you took possession of the property, the deduction claimed will be added back to your income and you’ll have to pay tax on it.
  • Life Insurance premium paid: Any premium paid by you for life insurance of yourself, your spouse or any child (child may be dependent/independent, minor/major, or married/unmarried) can be claimed as a deduction. The 80C deduction is valid on insurance policies purchased after 1st April 2012 only if the premium is less than 10% of sum assured. The deduction can be claimed for the full amount paid (premium including service tax & other charges).
  • Bills for preventive health check-ups: If you have not yet exhausted your deduction limit under section 80D and you have a bill for a preventive health check up, you can claim this bill and get a maximum of Rs 5,000 as a deduction. Do remember this is included within the overall limit of Rs 15,000 of Section 80D (Rs 20,000 in case of senior citizens).

Need help E-Filing?

Refer to our guide on E-Filing with ClearTax.

Our E-Filing guide

Cannot claim LTA & Medical Reimbursement in your Return: Unfortunately the exemption on LTA cannot be claimed in your return. The bills for your travel against LTA can only be claimed via your employer. LTA is allowed to be claimed twice in a block of four years. The current block is 2014 to 2018. You are allowed to carry forward your unclaimed LTA to the next year, so you can request your employer to not deduct tax on it and allow you to claim it next year. There is no way to claim this amount if you have missed submitting bills to your employer. Your employer will deduct tax and pay you the medical reimbursement amount for which you didn’t submit bills.

No submission of proofs required with the Return: Do note that you DO NOT need to submit these income tax proofs to ClearTax or to the Income Tax Department. We recommend you keep those safely to yourself, lest you receive an Income Tax Notice and the Assessing Officer calls for them. You must retain these proofs for 6 Years.

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