A statement of tax deduction claims made by an employee is contained on Form 12BB. A salaried employee must submit Form 12BB to their employer as of June 1, 2016, to obtain tax benefits or rebates on investments and expenses. The conclusion of the fiscal year is when Form 12BB is due. All salaried taxpayers must use Form 12BB.
An employee must report their investments made throughout the year using Form 12BB. At the end of the fiscal year, supporting documentation for these investments and costs must also be given.