NEW DELHI: The financial year 2025-26 is entering its final quarter, and for central government employees, this signals the start of the “Tax Panic” season. Most Drawing & Disbursing Officers (DDOs) across ministries have issued circulars setting January 15, 2026, as the absolute deadline for submitting physical proofs of savings (Section 80C, 80D) and HRA rent receipts.

Under Section 192 of the Income Tax Act, DDOs are legally bound to deduct the entire remaining tax liability from the salary before March 31. If an employee fails to submit Form 12BB along with actual receipts by next week, the accounts section will recalculate the tax liability assuming “Zero Savings.” This often results in 50% to 70% of the salary being wiped out as TDS in February and March.

The Essential Document Checklist

To ensure your Old Tax Regime selection remains valid, ensure you attach self-attested copies of the following. Remember, the declaration you made in April 2025 is invalid without these physical proofs.

Pro Tip: For parents, don’t forget to attach your child’s school fee receipt. As we reported, the CEA Rates have hiked, and this tuition fee is fully deductible under 80C.