<b>Your money:</b> Diligent paperwork helps in claiming tax benefits

Any lapse in documentation by an employee will lead to sharp cuts in salary

Last year, Rahul Sharma, an employee with a reputed fast-moving consumer goods (FMCG) company, realised the importance of paperwork and timely submission of investment documents to his employer when he received a fifth of his monthly salary. This year, he was relaxed when he got the official e-mail from his payroll department for investment papers and other tax-related documents before January 20. However, without reading the e-mail carefully, he gave copies of his investment documents against the declaration submitted at the beginning of the year. Unfortunately, he missed out on the newly-introduced requirement of making such claims in the prescribed