Proof for Tax deduction

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sharktale1212

Herald
Guys, anyone on education loan taking the tax deduction. What document is required for the proof? Will the email account statement do or I need to get the paper statements?
 
You will have to show those documents when IT Department asks for them vide scrutiny or any notice asking for the same.
Mostly you will need bank letter that you have availed the education loan. Also installment statement from them if needed.
 
?dOuBtFiRe? said:
You will have to show those documents when IT Department asks for them vide scrutiny or any notice asking for the same.
Mostly you will need bank letter that you have availed the education loan. Also installment statement from them if needed.
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Currently having the Tax proof submission season at my office. So not sure what I need to attach for it. Can I just say that I have a loan and then provide proof when I asked? Or just that I need to submit the proof upfront.
 
Usually the banks online portal will have a section where you can download the relevant documents / certificate / statement of payments made that can be used for tax proof

or else contact the bank
 
sharktale1212 said:
Currently having the Tax proof submission season at my office. So not sure what I need to attach for it. Can I just say that I have a loan and then provide proof when I asked? Or just that I need to submit the proof upfront.
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If asked by ur office, then tell them that u have deduction u/s 80E and state the amount of interest u pay for the loan.
When specifically asked,give the stmts. Most of offices, ask these so that they rework your TDS Deductions and deduct the TDS of last month accordingly saving you & them from troubles from IT & also money in the form of interest & Penalty to IT, so do comply with them.
 
bottle said:
Usually the banks online portal will have a section where you can download the relevant documents / certificate / statement of payments made that can be used for tax proof

or else contact the bank
Click to expand...
I have the loan with Bank of Baroda cant seem to find any place to download the documents. The loan was taken at my hometown and now I'm in Hyderabad. I have tried calling and emailing the bank but no response. Not sure what to do now, if I dont produce the proofs 50% of my salary will be gone in TDS for next 3 mths.
 
Try going to any local branch of Bank of Baroda and go to the loans department and see if they can pull up your records. Ask for Income Tax certificate.
 
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