Form 12 BB
Claim maximum tax benefits by subletting Form 12 BB and increase your in-hand salary.
Details of Employee
Rent Payment Information
Leave Travel Concessions
Interest on Home Loan
Deductions Under Chapter VI - A
1. Deductions under Sec 80C
2. Additional Deductions
Need Expert Help?
Our team is here to provide you with personalized solutions tailored to your needs. Get in touch today!
+91
Calculate Your Eligible Tax Deductions with the Form 12BB Calculator
Salaried individuals can now seamlessly calculate eligible tax deductions using the Form 12BB Calculator. This simple yet essential tool enables you to declare investments and expenses for deductions, including House Rent Allowance (HRA), Leave Travel Allowance (LTA), and home loan interest. Accurately filing Form 12BB can help reduce your taxable income, making it a vital part of your tax-saving strategy.
What is Form 12BB?
Form 12BB is a declaration form that allows salaried employees to inform their employers about investments and expenditures qualifying for tax deductions. This form includes various components like HRA, LTA, and deductions under Chapter VI-A, simplifying tax deductions for both employees and employers.
Benefits of Using TaxSpanner's Form 12BB Calculator
- Maximized Tax Savings: With precise declarations, you can lower your taxable income, reducing overall tax liability.
- Efficient Process: Simplifies your tax-saving journey by streamlining the declaration and calculation process.
- Documentation Support: Acts as a formal record for investment claims, ensuring compliance with tax regulations.
Key Components of Form 12BB
- House Rent Allowance (HRA): Claim HRA for rented accommodations to reduce taxes. Your HRA depends on your salary, rent, and location.
- Leave Travel Allowance (LTA): Use LTA for travel-related deductions within India, covering travel expenses during personal leave.
- Interest on Home Loan: Deduct the interest paid on home loans to reduce taxable income, making homeownership more affordable.
Steps to Use Form 12BB Calculator
- Visit the TaxSpanner website, under tools and calculators, select Form 12BB Calculator.
- Fill in your information under sections like ‘Employee Information’, ‘HRA’, ‘LTA’, ‘Interest on Home Loan’, and others.
- After entering the details, click calculate and know your eligible tax deductions and potential savings.
- Once calculated, download or save Form 12BB for easy submission to your employer.
