Updated Feb 20, 2021 | 06:02 IST
You risk paying higher TDS in case documents are not submitted on time but the same can be claimed back from IT department at the time of filing ITR Didn t submit investment proof to HR? This is what is likely to happen | Photo Credit: Thinkstock
Employees are asked to submit their investment-related documents to the human resources department of their employer twice during a financial year the beginning of the FY in the April-May period and the second time in December-January.
The first submission does not require any proofs as this is just a tentative declaration of investments you plan do during the year ahead while you need to submit proof of investments second time.