The investment declaration form employees submit to their employer to claim tax deductions and exemptions via payroll.
Form 12BB is the standard declaration employees submit to their employer, listing the investments, expenses, and allowances they intend to claim for tax purposes — HRA, LTA, home loan interest, and Section 80C investments among them.
The employer uses Form 12BB to calculate accurate monthly TDS deductions rather than deducting tax on the full salary and letting the employee claim a refund later. Filing it late or incompletely typically results in a higher TDS deduction until the declaration is corrected.
MedleyHR handles PF, ESI, TDS, and Form 16 automatically — free for up to 10 employees. Start free →
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