Notes for proofs to be submitted for F:Y-2013-14

IT -U/S 10

Particulars House Rent Allowance

80D

Medical Insurance

80E

Interest on Education Loan

24 80C 80C 80C

Interest on Home Loan Pension Policy Life Insurance Premium Public Provident Fund

80C

NSC Interest

80C

Fixed Deposit in the Scheduled Bank

80C

ULIP, Mutual Funds/ELSS, Infrastructure Bond,NSC,Postal Deposits

80C

Children Education fees Deposit under Senior Citizen Saving Scheme Five year term deposit scheme in Post Office

80C

80C

80C

Housing Principle Repayment and Registration/Stamp Duty Payment

Notes for proofs to be submitted for F:Y-2013-14

Description Allowance when the Employee is stayed in the Rented Accommodation Maximum Deduction allowed is limited to Rs.15000 for Employee, Spouse&Children, Additional benefit of Rs.15000 incase of mediclaim premium paid for policy of parents below 65-years and Rs.20000 each incase employee and his parents are aged above 65years. Loan Taken for Higher Education such as MBA, Engineering etc by the Employee/Children, Loan availed from banks or financial institution, Actual interest paid by the Employee is allowed as deduction, there is no limit for this deduction, Interest paid for First 8-years only is eligible.

Loan taken on Self-Occupied house property, Maximum amount of deduction allowed is payment of interest of Rs.1,50,000. Loan taken on Let-out property No-limit on interest & Income from such property is also to be Considered,The benefit of deduction is applicable only after occupancy of the house and Pre-EMI interest(EMI paid before occupation of the house) is deductable in 5-Equal installments starting from the year when the construction is completed or property is acquired., In case of Jointly availed property loan, the employee to declare only the amount paid by Him/Her., In case of self-occupied property, employee cannot claim both HRA exemption as well as loss from house property where the property is in the same city. Policy from any approved company by IRDA, Late payment fees will not be considered as premium paid, Policy should be in the name of the Employee,Spouse & Children. Policy from any approved company by IRDA, Late payment fees will not be considered as premium paid, Policy should be in the name of the Employee,Spouse & Children. Provident fund can be in the name of Employee,Spouse and Children, Maximum contribution allowed is up to Rs.70,000.

NSC interest declared will also to be accounted as "Other Income"

Term deposits for a minimum period of 5-Years with Scheduled bank

Only amount mentioned as 'Tuition Fee' in the fee receipt will be considered. Receipts for CurrentYear(Apr to Mar)

Amount deposited under senior citizen saving scheme only will be considered.

Time deposit for a period of 5-years with a post-office is eligible for deduction.

Proofs to be Submitted 12 months Original Rent Receipts

Photocopy of receipt issued by the Insurance company. Certificate from the Bank/Financial Institution specifying the:-The Loan is an Education Loan & Amount of Interest paid on the Loan is the Current-Year.

Provisional Certificate from the Housing Finance company/Bank stating the:-The Amount of interest to be paid during the financial year. The amount of Pre-EMI Interest paid. Photocopy of Premium receipt issued by the Insurance company. Photocopy of Premium receipt issued by the Insurance company. Photocopy of Stamped Challan or PPF Passbook providing investment made. Photocopy of all certificates for which interest is being claimed and Calculation of Interest Photocopy of the receipt/certificate issued by the Scheduled bank(ULIP, Mutual Funds/ELSS, Infrastructure Bond,NSC,Postal Deposits Copies of Receipts/Statements/Bonds/Certificates issued by respective authority/company proving investment made in the current year. Receipts issued by the school,college,university or educational institute. Copies of Receipts of amount deposited proving the investment made in the current year only. Copy of Receipt/Certificate from the Financial institute/Bank stating the amount of principle repayment. Provisional Certificate from Financial Institute/Bank stating the Amount of principle Repayment, Photocopy of Sale Deed and Stamp Duty paid receipt.

DECLARATION VAG VALVES (INDIA) PVT LIMITED PROOF OF INVESTMENT DECLARATION FORM FOR THE FINANCIAL YEAR APRIL 1, 2013 TO MARCH 31, 2014 Employee ID Place: Name: PAN NO: Male/Female Amounts due after 31st Dec'13 (Previous year proofs enclosed)

SECTION SECTION 10

Description Monthly Rent Paid LTA MEDICAL REIMBURSEMENT/ALLOWANCE

AMOUNT(INR)

SECTION 24

Interest on housing loan SELF OCCUPIED LET OUT(Submit the computation u/s.24)

SECTION 80 1 2 3 2 3

100% - DEDUCTIONs Premia paid for Medicliam for self /spouse /dependent children: max Rs 15000 pa. 80-D (Rs.20000 if covered for senior citizens) Premia paid for Medicliam for Parents: max Rs 15000 pa. 80-D (Rs.20000 if covered for senior citizens) Deduction in respect of maintenance including medical treatment of handicapped dependents u/s. 80DD. Deduction in respect of maintenance including medical treatment of handicapped dependents u/s. 80DDB. Permanent physically disability (self ) u/s. 80-U

Deduction under section 80E is available only for the interest paid against 4 Education loan taken.A Certificate from the bank needs to be provided. 5 Donation to Approved Charities Sec.80G: SECTION 80C FOR DEDUCTION FROM GROSS TOTAL INCOME (See Note A) 1 Premium paid for LIC (only for self, spouse & dependent children) 2 Contribution to PPF 3 NSC purchased during the year 4 ULIP 5 Mutual Fund (only Equity Linked Savings Schemes) 6 Housing loan principal 7 Tuition fees paid for education for 2 children 8 Investment in Pension Plan under section 80CCC 9 Provident Fund 10 Five Year term Fixed deposits 11 Subscription to Notified Bonds of NABARD 12 Five Year Post Office Time Deposit 13 Senior Citizens Savings Scheme 14 Infrastructure Bond: Other investments if any ( Please specify) 1 2 3 4 Note: Under Section 80C, the maximum amount allowed is Rs.1.00 lakh I, .. s/o / d/o / w/o. Resident of ..... declare that the proofs given by me through this declaration are true and binding on me. In case of any liability arises to the Vag Valves (India) Pvt Ltd for non-deduction of tax at source based on the information provided by me I hereby confirm that I shall indemnify the Vag Valves (India) Pvt Ltd to the extent of such liabilities which shall be paid by me alone.I attached the previous year proofs of payment for the investments falling due after 31 st Dec '13, will submit the proofs of payment on or before 31st March'14.

DATE :

SIGNATURE OF THE EMPLOYEE

Note: ALL THE PROOFS TO BE SIGNED BY THE EMPLOYEE as a self certification and Submit the copies

Name: Employee ID PAN No Location F.Y:2013-14 31.03.2013 31.03.2014

DETAILS OF LIC / ICICI/ HDFC/ BIRLA / RELIANCE POLICIES AND OTHER PREMIA PAID (Relation with the NAME OF THE PERSON employee) SUM INSURED PREMIUM AMT.

POLICY No.

DATE OF PAYMENT

TOTAL

DECLARATION
I here with declare that the above mentioned information provided by me is true and correct.I also undertake to indemnify Vag Valves (India) Private Limited for the consequences, costs, expenses, liabilties whatsoever may be arising at any time with regard to this.

Place: Date:

Signature of the employee

COMPUTATION OF INCOME/(LOSS) FROM HOUSE PROEPRTY Name: Employee ID PAN No Location F.Y:2013-14 Adress of the Property

01.04.2013

31.03.2014

Particulars
Gross Annual Value -> A Less:Muncipal Taxes Actually Paid during the year 2008 - 09 -> B Net Annual Value -> C=A-B Standard Deduction 30% of Net Annual Value(C*30%) -> D Interest on Borrwed Capital ->E

Amount Rs.

Remarks

Proof attached Proof attached

INCOME/(LOSS) ->F=C-D-E

DECLARATION

I here with declare that the above mentioned information provided by me is true and correct.I also undertake to indemnify Vag Valves (India) Private Limited for the consequences, costs, expenses, liabilties whatsoever may be arising at any time with regard to this.

Place: Date:

Signature of the employee