Income Tax: Submit investment proofs to lower TDS cut from your salary

Buy a Life Insurance Plan in a few clicks


Now you can buy life insurance plan online.

Kotak e-Term Plan

Kotak e-Term Plan provides a high level of protection to your loved ones in your absence. Know more

Kotak Guaranteed Savings Plan

Kotak Guaranteed Savings Plan is a savings and protection plan that helps you achieve long-term financial goals and provides an insurance cover against any eventuality. Know more

Kotak E-Invest

Kotak e-Invest plan is a complete Unit-Linked Insurance Plan that can be customized as per your goals and needs. Know more

Kotak Health Shield

Kotak Health Shield Plan helps secure your finances in sudden medical expenses such as Cardiac, Liver, Neuro, and Cancer (all early and significant illness stages/conditions of cancer), along with offering protection for personal accidents - in case of accidental death or disability. Know more

Kotak Lifetime Income Plan

Kotak Lifetime Income Plan gives you the security of your income continuing throughout your life and in your absence throughout your spouse's lifetime! Know more

Investment Proofs You Need Submit To Lower TDS Cut From Your Salary

Investment Proofs You Need Submit To Lower TDS Cut From Your Salary
  • 16th Jun 2022 |
  • 1,924

Tax planning in India has become accessible and easier to adopt due to the rising digitisation and access to various sources and references. However, many individuals (especially newly joined salaried employees/professionals) have confusions regarding taxes, tax-saving investments and ways to claim the tax benefit. One such area of confusion is the TDS and the various investment proofs that one would need to lower the TDS cut.

Employers in India are bound to cut TDS every year, and the failure to submit the right documents might cause you to pay more or less than the required amount.

What is Tax Deducted at Source (TDS)?

Tax Deducted at Source (TDS) is a type of income tax deducted from the amount of money paid during specified payments such as salaries, rents, professional fees, commission, interest, etc. by the person making the payment.

Normally, the individual receiving income is liable to pay an income tax. But the government with the help of TDS ensures that the income tax is deducted in advance from the payments. The receiver of income gets the net amount (after reducing TDS).

Investment Proofs You Need Submit to Lower TDS Cut from Your Salary

The kind of investment proof for TDS cut you need to submit will depend on the type of investment you make. Mentioned below is a list of investment types:

  • Mutual Funds or ELSS: For investments such as Equity Linked Savings Schemes (ELSS) or Mutual Funds (MF), you can submit the ELSS fund statement or mutual fund statement.
  • Insurance Policy: If you have made investments in an Insurance Policy, you can submit a copy of your policy documents and the acknowledgement receipts from your insurance company which has recorded the payments of your life insurance premiums.
  • Public Provident Fund (PPF): If you have opted for the Public Provident Fund (PPF) and opened your PPF account with a bank or post office, you can submit the passbook photocopies showing all transactions details regarding the deductions. In case you are maintaining your PPF account online, you can take a printout of the e-receipt and submit it as an investment proof.
  • Fixed deposit: If you have invested money in a 5-year tax-saving fixed deposit plan with a bank, you are required to submit a receipt of deposit or certificate from the bank to your employer. The proof of investment will remain the same if you have opted for Sukanya Samriddhi Scheme as well.
  • National Pension Scheme (NPS): In case you have made an investment in National Pension Scheme (NPS) via the Employee Model or Corporate Model, there is no need to submit any proof of actual investment as it is recovered and deposited by your company in your PRAN (Permanent Retirement Account Number) account. However, in case you have opted for NPS on your own, i.e. outside your salary, then you need to submit copies of your PRAN card and NPS Transaction Statement for Tier-1 Account.
  • Other Tax-saving Expenditure

Tuition Fees:

In case of tuition fees, you can submit the school fee receipt with the school seal and a signature of the receiver. House Rent Allowance (HRA): If you seek tax benefits on HRA, then the PAN number of your landlord is mandatory. The conditions are not applicable for individuals paying an HRA of ₹1 lakh or less in a year, i.e., ₹8333 per month.


Some employers would not demand every document and investment proofs mentioned above, while some may need their own set of documents. Hence, to get the right TDS salary, it would be best to get a confirmation from your accounts department before making any submission.

Kotak Guaranteed Savings Plan


  • Enhanced Protection Through Riders
  • Life Cover
  • Tax Savings
  • Multiple Premium Payment Terms
  • @ Guaranteed Loyalty Additions
  • Accrued Guaranteed@ Additions

Ref. No. KLI/22-23/E-BB/490


Browse our library of resources

- A Consumer Education Initiative series by Kotak Life

Similar Articles

How to File Form 16 for Salaried Employees?

How to Claim TDS Refund for Excess TDS Deduction

Income Tax Benefits for Doctors

How to Save Income Tax with Insurance

Tax Deductions You MUST Know

How Much Money This Budget 2019 Can Help You Save

Income Tax Deductions & Exemptions under Sections 80C, 80D & 80DDB for FY 2020-21 & 2021-22

Types of Riders in Insurance Policy

Tax Saving Tips: Best Ways to Save Income Tax for 2021

9 Point Guide on how to File Income Tax Return Online

Why Tax Planning Should Be an All-year Round Activity

Investing Lump Sum Amount

How to Check Income Tax Refund Status Online in India

ITR 2 Form – Complete Guide

How To Save Tax Better with 80C

ITR 1: Sahaj Form

What is TDS Exemption Limit?

What are the Tax Benefits of Sukanya Samriddhi Yojana (SSY)?

What is Section 80C Deduction Limit?

Union Budget Highlights – 1st February 2022

What is Challan 280? How to Pay your Income Tax Online with Challan 280?

A Comprehensive Guide to Understand the ITR 7 Form

Guaranteed Return Plans-Why is it a must for you?

Why is Form 16 Important?

What is the TDS Rate on Salary?

How do I Calculate My Term Insurance Premium

What Investment Options Come with Tax Incentives?

How to file Form 16 online?

How to File ITR Online

All about Online Income Tax Calculator

What is Form 26AS - All You Need To Know

What is Section 195 of the Income Tax Act? TDS on Non-Residents of India

Tips to plan your savings in 2019

Types of Income Tax Return (ITR) Forms

Interest Imposed Under Section 234A, 234B and 234C

What are the Different Types of Taxes in India?

Top 8 Tax-Saving Methods in India- Budget Planning

What Is Advance Tax and How Is It Calculated?

आयकर स्लैब 2021-2022

Tax Saving Guide for 2019-20

How to File Income Tax Return for First Time Tax Payers

Penalty For Late Filing TDS Return

TDS Due Dates of FY 2020-21 For Return Filing

Tax Benefits of ULIP Plans Available for NRIs

Do Beneficiaries Pay Taxes on Life Insurance?

A Guide to Life Insurance Policy’s Tax Benefits and Taxability

Section 10 (10d) of Income Tax Act, 1961 on Payouts of Life Insurance Policy

Received an Income Tax Notice? Your Guide to Understanding Intimations under Section 143 (1)

Income Tax Filing For NRI in India

Tax Exemption and Scope of Coverage

Tax-Savings Investments and Options in India

Section 80C Deductions as per Income Tax Act, 1961

Section 80D - Medical and Health Insurance Tax Benefits Under Section 80D

What is the Percentage of Tax Deducted at Source (TDS)?

What To Do If Your TDS Is Not Deposited With The Government?

What is ITR & How to File Income Tax Return

Income Tax Slabs and Rates in India for FY 2021-22/AY 2022-23

How to File Income Tax Return - Everything You Need To Know

A Complete Guide for Filing ITR 3 Form

7 Important Things to Remember While Investing in a Savings Investment Plan

When Should TDS be Deducted and Who is Liable to Deduct it?

All You Need to Know About Section 80C

Income Tax Deductions Under Section 80C

Understanding Tax Exemptions in ULIP (Old and New)

Section 44AD of Income Tax Act for AY 2020-21

What is Section 80C Deduction?

Guide for Tax Calculation on your Salary

Tax Saving for Self Employed in India

Section 80E: Tax Exemption on Interest on Education Loan

Home Investment Plan to Buy Dream Home

Pradhan Mantri Suraksha Bima Yojana

What Is Salary Protection Insurance and Why You Need It

Things to Do After Filing Income Tax Returns

Saving Income tax in 2017 - 18

What is the Difference Direct Tax and Indirect Tax

How to Get Form 16?

52 Weeks Savings Plan: Daily Savings Plans for a Better Tomorrow

E-Filing of Income Tax Returns in India

Insurance and Endowment: Everything You Need to Know!

What is Tax Evasion and What Are The Penalties For Tax Evasion In India?

How to File Income Tax Return without Form 16

All about TDS Payment Online & Due Dates

What are Direct Taxes? How to Avoid being Overtaxed?

Difference between Section 80C and 80CCC of the Income Tax Act, 1961

Have You Considered Term Insurance a Part of Your Tax Planning?

Section 16 of the Income Tax Act (ITA), 1961

What is Section 10D of the Income Tax Act?

Tax Season Is Coming- Know How to Save Tax

How to Save Tax on Salary Arrears?

What is Section 80CCC of the Income Tax Act 1961

How to e-Verify your Income Tax Return

Impact of GST on Life Insurance in India

The Difference Between Gross Income & Total Income in Calculating Income Tax

Tax Benefits for Startups in India

How to File TDS Return?

ITR-6: Guide to filing ITR-6 Form online

Role of Life Insurance in Your Financial Portfolio

Tax Saving Options other than Section 80C

What is ITR 5 Form and How to File ITR 5?

Everything You Need to Know About Tax Benefits of National Pension Scheme (NPS)

How to Pay Advance Tax Online in India

Difference between Section 80C, 80CCC, 80CCD & 80D

Tax-Free Income in India

What is TDS Slab?

9 Income Tax Myths That Could Cost You Money while Filing returns

Financial Planning and Best investment options for Housewives

Tax Saving Options for Salaried Employees

Form 16, Form 16A, and Form 16B?

Income Tax Exemption for Disabled

Tax Benefit of Investing in Term Plan

How to View 26AS and Download Form 26AS Online?

All about TDS on Salary under Section 192 – Kotak Life

Budget 2019: Impact on the Common Man in India

Are Financial Planning and Tax Planning the Same Thing?

9 Tax Changes in Budget 2019 that may Impact Your Personal Financial Planning

How To Save Tax Using Life Insurance?

Can You Get Term Insurance Without Income Proof?

LTC Cash Voucher Scheme October 2020 – Everything You Need to Know

What is Section 80C - Explained in Detail

Presumptive Taxation for Business and Profession

How to e file ITR on Income Tax Government Portal

What is TDS Refund Process?

What is Tax Deduction at Source (TDS)?

How to View 26AS and Download Form 26AS Online

What is the Difference between Form 16 and Form 16A?

Why January Is an Important Month for Saving Tax?

5 Popular Tax-Saving Schemes in India

What is Form 16A?

Tax Structure in India

How to Check Income Tax Returns Status Onine?

What is Form 16B?

Financial Benefits and Government Schemes Every Woman in India Should Know

What is the Last ITR Filing Date and Penalty for Late Filing of ITR?

5 Unusual Investments You Didn't Know for Saving Taxes in India

How to Check Income Tax Refund Status Online in India

How to Download Form 16?

How to File Form 10E for Tax Relief on Salary Arrears?

Income Tax Filing Using Multiple Form 16

Income Tax Exemption for Physically Handicapped Dependent

Tax Planning and Tax Benefits of Life Insurance

Income Tax Deduction Under Section 80CCC In India

Save Income Tax by 31st March: Here Is a Checklist

Sub-sections Under Section 80C of the Income Tax Act, 1961

List of Important Income Tax FAQs

How to save tax for salaried person?

Section 80G of Income Tax Act

Income Tax Deductions for Disabled Person Under Section 80U

Problems People Face with Tax Returns after a Job Change

How can I get Form 16B from traces?

What is House Rent Allowance and How is HRA Exemption Calculated?