New Form 12BB: How to Claim Tax Deductions on LTA, HRA, and Home Loan Interest?

CBDT has recently notified a new Form 12BB to claim a tax deduction on LTA (Leave Travel Allowance), HRA (House Rent Allowance), and interest paid on home loans. According to the new rules, you need to submit your proof of travel in the new Form 12BB to claim LTA benefits. Additionally, you need to provide details of HRA and deductions for interest borrowing in the same form. Please find below Form 12BB in Excel format.

CBDT has recently notified new Form 12BB to claim a tax deduction on LTA (Leave Travel Allowance), HRA (House Rent Allowance), and interest paid on home loans. According to the new rules, you need to submit your proof of travel in the new Form 12BB to claim LTA benefits. Additionally, you need to provide details of HRA and deductions on interest borrowing in the same form.

Here is the Excel format of the same.

Here is the corrected text with proper paragraph formatting:

"Here is the attachment of Form 12BB."

Form 12BB: A Guide for Employers and Employees

The Form 12BB is a document for input along with details of proofs expected. This can be used by employers to collect investment data from employees. The workbook contains the following worksheets:

1. Guidelines
The existing set of guidelines is written here. These can be edited by the employer as per their needs.

2. Proofs Required
The proofs required for every investment declared by the employee.

3. Form 12BB
The format as defined by CBDT. The employee can enter data in this sheet, take a printout, and submit it along with proofs.

4. House Rent
Month-wise details of House Rent Paid. The details entered in this sheet will be shown in the Form 12BB.

5. Home Loan
Details of Home Loan Interest/principal paid and the institute providing the home loan. The details entered in this sheet will be shown in the Form 12BB.

6. LTA
Details of the tour when an employee is availing of the LTA deduction. The details entered in this sheet will be shown in the Form 12BB.

Regards,