2011 11-22-3810 Presentation on Submitting IT - Copy

8/2/2019 2011 11-22-3810 Presentation on Submitting IT - Copy

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Copyright IBM Corporation 2009

IBM HR Management SystemPowered by SAP

You and IBM: Online Service Center

Income Tax (IT) Declaration andProof Submission 2011- 12Process and IT Proof Form Overview Training (with Income Tax Guidelines)

November 2011


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IBM HR Management System Powered by SAP

IT Proof Submission (2011-12: Process and Form Overview Training2

Purpose of This Training

Provide guidelines to submit annual investmentproofs using You and IBM: Online ServiceCenter .

This pre-recorded training material will help you to

understand the IT Declaration and proofsubmission process.

Provide you with the drop box location details andother instructions for employees who are on-siteand / or who do not have access to IBM network.

Query support & W3 supporting material. Appendix covering IT Guidelines.


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IT Proof Submission (2011- 12): Process and Form Overview T raining3

Overview of IT Proof Submission Process

+

Complete IT Proof Form

Attach IT Proofs

Drop Box

Your IT proof submission is APPROVED !!!

Your IT proof submission is REJECTED !!! You need to Resubmit !!!

IT Approver

Print IT Proof Form

Employee


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Step 1: Navigate to You and IBM: Online Service Center

Employee s You and IBM Online Service Center Portal Manager s You and IBM Online Service Center Portal

1. Navigate to AboutYou

2. Navigate to Compensation

3. Click Income TaxProof to open the form

12

3

1. Navigate to AboutYou

1

2. Navigate to Compensation

2

3. Click Income TaxProof to open the form

3


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IT Proof Submission (2011 12): Process and Form Overview Training6

Step 2: Complete IT Proof Form

Tab 2: Previous Employment Previous Employment Tax Details is applicable to allemployees who have joined IBM after 1st April 2011.

Tab 3: Housing (HRA)

Provide details of house rent proofs

Tab 4: Income from House Property

Provide details of income from house property

Tab 1: Main Information

Provide details of contact number and the number of proof receipts to be submitted

1 2 3 4 5 6 7

Tab 5: Income from Other Sources

Provide income details from other sources

Tab 6: Section 80 Deductions

Provide details of Section 80 proofs

Tab 7: Section 80 C Contributions

Provide details of Section 80 C proofs

Overview of different tabs available in IT Proof form


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Step 2: Complete IT Proof Form (cont)

Tab 1

4. Click on the next tab, once you completethe details.

12. Enter your Telephone Number .

2 3. Enter the number of proof receipts thatyou will submit along with IT proof form.

3

Main Information

4

Note: Please make note of the ClaimNumber for future references.

Select Main Information tab.1

2

3

4


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1

2

Previous Employment Tax DetailsTab 2

1. Select Previous EmploymentTax Details tab.

2. Fill up the PreviousEmployment Details .

Note: Refer the Form 16 / TaxComputation sheet you havereceived from your previousemployer.

3

Important Note : Please update only income (after section 10 exemptions) in u/s17(1), Professional Tax, ProvidentFund and income tax deducted in respective sections .

5. Click on the next tab, once youcomplete the details.

1

2

3


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1

2

4. Fill up all the fields in the table.

3

Housing (HRA)Tab 3

5


3. Click Remove line to remove any of the records you have entered incorrectlyin the table.

4

2. Click

Add line

to create a new recordin the table. Use this button again, if youneed to create additional records.

1. Select Housing (HRA) tab.


1

2

3

4

5

Important note :

Create multiple line records only in case of change in rental amount and location in the financial year or else please updatestart date and end date with rental amount /month.

Do not give End Date as 31/12/9999. Change it to the last date for which you are claiming HRA exemption or 31/12/2012.


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1. Select Income From House Property tab.

3. Enter the income for house propertyamount.

2. Select the property type, as applicable.

1

2

3

Income from House Property (Self-Occupied / Deemed Self Occupied, Partly Let out)Tab 4

4


1

2

3

4


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1

2

3

Income from House Property (Wholly Let out)Tab 4

4. Click on the next tab, onceyou complete the details.

1. If you select Wholly Let out HouseProperty if applicable.

2. Fill the details in the fields applicable.

1 2


3

Note: Calculate & enter 30% of Final

Lettable Value in Ded Repairs u/s 24

1

2

3

Note:Enter property tax amount in Ded-others u/s 24.(if you have paid any).


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1. Select Income from OtherSources tab.

1

2. Fill up only Other Income(Unspecified) field.Note thatother income will be charged athighest tax rate.

Income From Other SourcesTab 5

2

3

3. Click on the next tab,once you complete thedetails.

Note: Amounts entered inother fields will not beconsidered.

1

2

3


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Step 2: Complete IT Proof Form (cont)Step 2: Go to Income from House Property

1

2

Section 80 DeductionsTab 6

1. Select Section 80Deductions tab.

2. Fill up the actualcontribution made under Section 80 D Deductions .

3

3. Click on the next tab, onceyou complete the details.

Note: Scroll down for morefields

Note: Any Donations given to any Voluntary Social Organizations will not be considered .

3

1

2


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2

Section 80 C ContributionsTab 7

3

1. Select Section 80 CContributions tab.

2. Fill up the actualinvestment made under Section 80 C Contributions .

3. After completing Section 80 C Contributions tab, select the Main Information tab. Review button is available in Main Information tab.

1

Note: Scroll down for morefields

3

1

2

.

Note : Maximum exemptionunder section Sec 80C, 80CCC,80 CCD put together is 1 lakh .


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1. Select Main Information Tab, after completing IT proof details in all tabs.

1

2

Step 3: Review and Submit the IT Proof Details

2. Click Review to view the Print and Send options.

3. Click Submit button tosubmit the IT-claim for IT-approver.

3

1

2

3

Note : In the Review status, you would not be able to edit any of theTABS. In case you need to edit, press the Previous Step Button and

edit.


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Step 3: Print the IT Proof Details by navigating to worklist (cont d)Note:Once the IT-claim is submitted in portal by clicking on submit button in main tab (after review)then system will

provide you an autogenerated request notification number (Make a note for future reference)and the path to navigate toworklist to take the print of IT-proof claim.On navigating to worklist one needs to open the IT-proof claim and on clicking onthe claim the below shown picture with a print button will be seen in Main Information tab.Click on print button to take the

printout of online IT-proof summary sheet.

Click on print button to printthe IT-proof summary sheet.


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Step 4: Submit the Printed Form along with IT proof Documents to IT Approver

+

Printed IT Proof Form IT Proof Documents Drop Box

Your IT proof submission is APPROVED !!!

Your IT proof submission is REJECTED !!! You need to Resubmit !!!

IT Approver


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If IT Proof Submission is Rejected, verify the comments on rejectedline item and Resubmit along with Correct Proof Documents

1. Navigate to Your Work under About You tab.1

2. Click Tasks tab to view the worklist items.2

3. Click the task link to open already submitted IT proof form.

3

Note:If you don t action on the rejectionwork item within 5 working daysfrom the date of receiving the ITproofs approval status mail( from WF batch mail id) , thework item expires and you wouldnot be able to resubmit the formagain.

4. On opening the IT-claim click on Submit button to resubmitthe claim and again follow the same instructions as before to take theprint of claim by navigating to the worklist. Enclose the print out alongwith resubmission proof and drop it in nearby drop box.


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IT Proof Submission: Drop Box Locations in India

Bangalore

EGL- Block A: Near mail room, Ground Floor- Block B: Near mail room, Ground Floor- Block C: Near Main Reception area- Block D: Near Mail room- Pine Valley: Near Mail room

SA 1, 2,& 3 Blocks: Near mail room, Ground FloorManyata D1, D2, D3, and K Blocks: Near Mail roomManyata C4 : Near Mail roomFTP Fortius : Near Mail roomFTP Altius: Near mail roomPrestige Towers: Near Mail roomInventor Building: Near Mail roomExplorer Building Commerce @ Mantri: Near Mail roomEsteem Asrani: Near Mail roomIBC : Near Mail room

GurgaonDLF Infinity Tower A: Near mail room

DLF Silokhera: Near mail room

Mumbai/ PuneMumbai

NIRLON: Near Mail roomcBKC: Near Mail roomVashi: Near Mail room

Pune:IBM TPO - Tower B & C: Near Mail roomBuilding 1&2 Ozone IBM: Near Mail roomETZ: Near Mail room

Unica : Near Main Reception

NoidaA26 and B-19, H-199: Near mail room

HyderabadMind Space: Near Mail room

Divyasree: Near Mail room

Uma Aishwarya: Near Main reception(Firstfloor)

ChennaiDLF Chennai: Near Mail room

IBM Towers Chennai: Near Mail room

Lords Chennai: Near Mail room

KolkataBCS Salt Lake: Near Mail room

DLF IT Park B: Near Mail room

DLF IT Part C: Near Mail room

L&T Chambers: Near Mail room

Millennium City Information / STP: NearMail room

DLF SEZ: Near Mail room

New DelhiBirla Tower : Near Mail roomISID Campus, and The Mira: Near

Mail room

Bangalore


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IT Proof Submission (2011-12): Process and Form Overview Training20

IT Proof Submission: Contact Addresses for Employees OutsideIndia or Employees without IBM Intranet Network Access

For employees who are onsite (USA):Use the attached soft copy form to provide IT proof detailsand submit the printed form along with proof documentsto:

Khushi Patel

Payables Coordinator

IBM - Global Business Services

Dept 1T8/Bldg 061/U104A3039 Cornwallis Rd, P O Box 12195

Research Triangle Park, NC 27709

Phone: 00-1-919-254-2242 , Fax : 00-1-919-543-4747

Email: [email protected]

For employees who are onsite (Other Countries):Use the attached soft copy form to provide IT proof details

and submit the printed form along with proof documents to:

Attention: Manager,

Income Tax Proof Collection Team (Payroll Team),

IBM India Pvt Ltd,

Manyata Embassy Business Park, D1 Bldg, 4th Floor,

Outer Ring Road, Nagawara, Bangalore -560045.

For employees who do not have access to IBM intranet network/ LOA/ ML:For employees who do not have access to IBM intranet network, Managers need to cascade the IT proof submission notification.

Instead of using You and IBM Online Service Center portal, employees need to use the attached soft copy form to provide income tax proofdetails and submit the printed form along with proof documents to any of the below addresses:

Option 1: Any of the nearby drop boxes in IBM India locations

Option 2: Send by post to the below address

Attention: Manager, Income Tax Proof Collection Team (Payroll Team),

IBM India Pvt Ltd, Manyata Embassy Business Park, D1 Bldg, 4th Floor, Outer Ring Road, Nagawara, Bangalore -560045.

Note: Along with the above mentioned documents, attach Covering Letter (mentioning the number of proof documents attached).


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IT Proof Submission Query Support and w3 Self-help Materials

Email: Income TaxProof/India/Contr/IBM

Phone:

8787 from any IBM location

+91 80 25499500 from anyexternal location

If any questions on IT Proof Submission

Employee

Self-help Materials Avalable on w3


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Appendix

India Income Tax Guidelines (2011-12)


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S.No Income Tax Component Guidelines1 Tax Slabs For Male: Annual income Tax

Upto Rs 1,80,000 NilRs 1, 80,001 Rs 5,00,000 10%Rs 5,00,001 Rs 8,00,000 20 %Rs 8,00,001 & above 30%

For Female:

Upto Rs 1,90,000 NilRs 1, 90,001 Rs 5,00,000 10%Rs 5,00,001 Rs 8,00,000 20 %Rs 8,00,001 & above 30%

Education Cess : 3 percent onTax

2 Previous employmentdetails

Mandatory documents to be submitted:a) Copy of Form 16 (For period in financiial year 2011-12)or Original Final Tax

Computation Statement for the current financial year (Attested) by the authorized signatoryon companyletter head of the previous organizationb) Fill in the details in Form 12B and submit the completed form.

Note: Please note that the proofs for investments made under Chapter VIA will have tobe submitted again in IBM.


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India Income Tax Guidelines (2011- 12)

3. House Rent Allowance(HRA)

As Per IT Rule HRA exemption will be calculated as below:-

HOUSE RENT ALLOWANCE EXEMPT U/S.10(13A) Read with Rule 2A of IT Rules 1962

a) Actual HRA received : Rs.xxxxb) Rent paid in excess of 10% of Salary : Rs.xxxxc) 50% of Salary in Metro Cities or

40% of Salary in other cities : Rs.xxxx

Least of a), b), c) will be considered for exemption.

3a. House Rent Allowance(HRA)(Cont d next page..)

Mandatory documents to be submitted as per IBM policy:-

a) The First month (Apr-11 or month of joining) & Latest rent paid receipt in Original and aCopy of the valid rental agreement with the Landlord.

b) The receipt should have details like Name, Address of rented accommodation, rent

amount both in figures and words, rent paid for the month and signature of the Landlord.

c) If employee has shifted houses or has any change in rent amount, then one rent receiptfrom previous/current Landlord as applicable (the rent receipt for last month before change)and copy of the old agreementis also required.



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S.No Income Tax Component Guidelines3b. House Rent Allowance

(HRA)In accordance with this circular "CBDT vide its Circular No 05/2011 dated 16th August, 2011clarified the provisions TDS, while allowing the benefit of exemption under Section10(13A) ofthe Income Tax Act in respect of House Rent Allowance, if annual rent paid by the employeeexceeds Rs 1,80,000 per annum, it is mandatory for the employee to report PAN of thelandlord to the employer.

Please mention the PAN (Permanent Account Number) of the land lord on the 1 st page of thecopy of the Rental agreement.

3c. House Rent Allowance(HRA)(Cont d next page..)

In case the employee informs that the landlord does not have a PAN, a declaration to thiseffect from the landlord along with the name and address of the landlord should behanded over by the employee to the employer


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India Income Tax Guidelines (2011- 12)S.No Income Tax Component Guidelines

3d House Rent Allowance (HRA)cont d

Note:- The rental agreement should necessarily cover the period for which the exemption isbeing claimed for. If in the agreement there is Rent and Maintenance mentioned; only RENT will beconsidered. If the agreement is not in the name of employee, Exemption will not be given. For ONSITE employees, the rent receipts shall be considered only for their period ofstay in India. Exemption will be given only for the house rented in the place of work and not forhouses in other locations.

4 Children Tuition Fee Mandatory documents to be submitted:a) Copy of the receipt issued by the educational institution.Note Deduction will be given only for tuition fees paid during the financial year and not ondevelopment fees, donation & Capitation etc. Exemption can be claimed only for thetution fees incurred for 2 children. Deduction will be given only for expenditure on Full Time Education.

5 NSC Mandatory documents to be submitted:a) Copy of the NSC certificate with the details (Certificate number, Purchase Date,

Amount details) must be visible in the copy.b) Incase of NSC interest, earned on previous NSC investment, the same has to be declared

under Other Income (Unspecified) .

6 Post Office Savings Deposit Mandatory documents to be submitted:a) Copy of deposit receiptb) Copy of the passbook - front page where details of the depositor are mentioned andpage showing current financial year deposits and balance as on that date.c) If balance is not shown then copies of all pages where investment between April2011 and March 2012 is recorded.


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7 Bank FD (Notified tax savingsscheme) Mandatory documents to be submitted:a) Copy of certificate from Bank. Fixed deposit in notified tax saving scheme for currentFinancial year will only be considered.

8 Repayment of Housing Loan(Cont d next page..)

Form 12C

Income or loss on Houseproperty computation sheet

1. Principal repayment

Mandatory documents to be submitted:a) Original provisional certificate from the Financial institution from the Financial

institutions (HDFC / LIC Housing Finance/ etc) giving the break up of Principaland Interest repayment in the Financial Year. In case of loan taken jointly, and theentire Principal and interest repayment is claimed by employee, a declaration tothis effect has to be submitted.

Note If the Stamp duty and Registration fee was incurred towards purchase of House

property, it can also be claimed under this limit. Proof for such payment or documentary evidence of the expenditure (eg: Receipt,

copy of agreement/deed) is to be produced. Exemption on the Pre EMI interest paid can be claimed after receiving the

possession of the house in 5 equal installments over a period of 5 successivefinancial years by adding the same under Interest section of respective housingproperty type.

2. Interest on Housing Loan

a) House property is Self occupied -Certif icate as mentioned under 'Principalrepayment' section. This is for Interest on Self Occupied Housing property.

b) Form 12 C Declaration

3. Income or Loss on House Property

a) property is Rented -In addition to the above, duly filled up Form of declarationneeds to be submitted (Softcopy attached below) along with computation dulysigned by the employee (below attached example of computation).

b) Form 12 C Declaration


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8 Repayment of Housing Loan(cont d)DeclarationForm

Joint Loan

4. Employees can claim both Interest on housing loan for self occupied property andHRA exemption

In order to claim both, employees need to submit a declaration in original in theattached format.Note

In case of joint housing loan, a declaration in the attached format need to besubmitted otherwise tax benefit will be given only on prorated amount.

9 Income From Other Sources Mandatory documents to be submitted:

a) Form 12 C Declaration

Note: only Other Income (Unspecified) will be considered.

10 Life Insurance Premium

Self declaration form

Mandatory documents to be submitted:a) Copies of all the Premium receipts PAID by the employee (in this Financial Year).Incase any premium is due in January / February/March 2012, then either you can paythe premium before the cutoff date and produce the proof or the deduction can be

availed at the time of filing your Income Tax return. This is as per the Income Taxprovisions. Electronic premium receipts will be considered only if it clearly displays the insurancecompany details (with Logo), details of the insured and policy details (policy numberetc)b) Declaration need to be given in the attached format in case of premium paymentmade on behalf of dependents.


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India Income Tax Guidelines (2011- 12)

S.No Income Tax Component Guidelines

11 Pension Plan Mandatory documents to be submitted:a) Jeevan Suraksha Or any other scheme u/s 80CCC - Copy of the receipt from theInsurance Company.

12 PPF Mandatory documents to be submitted:a) Copy of the stamped deposit receipt or Copy of Passbook duly attested.

13 ULIP Mandatory documents to be submitted:a) Copies of all the Premium receipts paid (in this Financial Year).

14 Mutual Funds Mandatory documents to be submitted:

a) Copy of the challan/ receipt for Investments. Electronic statement will be consideredonly if it contains details of the Mutual Fund company, scheme, folio number,employees name. Deduction is available only for ELSS (Tax Saving) schemes ofmutual funds.

15 Interest on Education Loan

Self declaration form

Mandatory documents to be submitted:a) INTEREST for the Loan repayment details for the Financial year (ie Original Certificate from the Lending institution for Repayment of Educationalloan). Only Interest is allowed for Income Tax Deduction purposes.b) Self declaration formNote This is applicable for the Assessee (employee) Spouse and child . Higher educationmeans - "Full Time studies for any graduate or post graduate course in Engineering(including technology / architecture), medicine, management or for post graduatecourse in applied sciences or pure sciences including mathematics and statistics."


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16Other DeductionsSection 80 U

Mandatory documents to be submitted:

a) Any assessee suffering from a permanent physical disability (including blindness)on the production of medical certificate from Government Hospital in the prescribedform, shall be allowed a deduction of Rs.50,000. Where such assessee is a personwith severe disability, a deduction of Rs.1,00,000 can be claimed.

17 80CCF(Infra-bonds) Mandatory documents to be submitted.a)Copy of Infrastructure bond or the copy of reciept paid towards Infra bond.

18 Section 80 DSelf declarationMedical Insurance

Mandatory documents to be submitted:a) Copy of the premium receipt paid by the employee, issued by the insurer.b) Self declaration form to claim under Sec 80D as attached below.

19 Section 80 DDSelf declaration formMedical Insurance

Mandatory documents to be submitted:a) Deduction regarding maintenance including medical treatment of dependent who is

person with disability. The permanent physical disability or mental retardation ofthe dependent relative has to be certif ied by a physician, surgeon, oculist orpractitioners working in a govt. hospital.

b) Self declaration by employees duly certifying amount spent on treatment, training orrehabilitation of the handicapped dependent or the amount paid to LIC/UTI for the

policy).Note If the disability is upto 80% then the deduction is 50,000 and if the disability is

beyond 80% then the deduction is Rs. 1,00,000.

Important Note : For any investments made in the names of the spouse or child of the employee, the employee mustprovide a Self Declaration that the investments are being claimed by him/her only and not by any other person.

Note: You can submit one Self Declaration form for all tax components instead of multiple ones.Note: If you are not able to open any of the attachments, you can find the same in a separateattachment All income tax forms


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2011 11-22-3810 Presentation on Submitting IT - Copy

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