How to do investment declaration for the first time in the financial year

 

 

1. Login to SPARC. Click on 'My Investment Declaration' menu. A screen like this will open.
2. Make sure that you have selected correct financial year
3. If you are declaration your investments for the first time in year, you will be given option to choose Income tax regime
4. This are the list of components under which you can declare your investments. Each component is accommodated with a help message and whether component is applicable in old-regime or new-regime or both

   

5. This are input fields where you have to enter the amount that you want to declare
6. To declare Annual house rent and Income or Loss under house property, click on below highlighted buttons and fill additional form
7. You can use search to find specific section/component that you are looking for

   

8. To compare old regime tax liability against new regime, you can declare your all-possible investments that you have already made, or you are going to make in this financial year independent of regime
9. Click Save to save and recompute taxes 
   
10. Post Save select the regime that you wish to opt
11. Submit the Investment declaration form by clicking Submit button, acknowledge to the confirmation dialog post reading warning message
12. Post submit you will be able to see only those components that you have declared

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