Monday, March 6, 2017

INCOME TAX RELIEF FOR THE FY 2016-17


All the defence pensioners are entitled to Tax Relief under Section 89(1) for the arrears received on Delinking, OROP Instalments and 7 CPC due paid during the FY 2016-17.

In order to claim relief, everyone has to file Form 10E on line before filing ITR. Without filing Form 10E, you cannot claim IT Relief.

The following details are required for filing For 10E.

1. Pension received for the Years from 2005-06 to 2016-17.
2. Financial year wise breakup of the following arrears.
1. OROP Installments.
2. Cir.547 Arrears.
3. Delinking arrears received in Dec 16/Jan 17.
4. 7 CPC arrears received.

Prepare Form 10E Annexure I and Table A and keep Ready for filing on line in April 2017.

The Break up for the Delinking arrears is available in our website.

We will be uploading the break up for the other arrears very soon. Form 10E also will be uploaded very soon.

Wait for more instructions on Income Tax filing.

All Defence pensioners must submit their PAN Number to the Bank immediately. Collect Form 16 from Bank in April 2017.

If possible get pension statement from the bank from 1.1.2006 to 31.3.207. 

If you are having pass book, copy down the entire pension and total year wise.

If you do not take interest in preparing the above documents, you will not get the IT Relief which will be around 20,000 to 30,000.

(Source- FB post of Achuthan Raghavan Vet)

10 comments:

  1. If you have not filed the IT return from the year 2006 till this AY,continuously ,then this effort is not to get materialisedd.

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  2. The Canara Bank have deducted₹33133/-as IT from my pension for the months Dec/Jan/Feb.

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  3. Mr.Roy George,this is a country ,even a soldier employed Siachin is also taxed.By definition pension is for survival.But alas! Our system of taxation never spared a pensioner also.
    We can pay tax and we will certainly be happy to be part of nation building even after retirement.If the govt is sympathetic towards pensioners,they can grant us certain % of concession in tax,if not complete exemption.

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  4. If your income below 2.5 lakh and not ffile return than also you can take benefits of 89

    https://play.google.com/store/apps/details?id=subhom.govtemployeesincometaxcalculator

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  5. I was not coming under tax bracket since Nov 2017 but SBI has deducted TDS. Will they refund after filling this said form.

    NAGARAJ

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  6. Excellent.Thank you.Kindly do post the information. The PCDA too has given various forms vide their circulars which are required to be filled in by the PDAs and submitted to them after completion with a copy to the pensioners.Unfortunately,this action has not completed by the banks/ PDAs.Uploading these PCDA forms given as appendices to their circularsubscribers would be a right step in this direction. Looking forward for the same.

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  7. It is totally obnoxious. Why not the concerned authorities inform Cpcc of all the banks about the tax relief for defence pensioners under section 89(1) for the arrears received instead of asking the individual to file form 10E. Maximum number of old defence pensioner doesn't know how to operate computer and how can they file online.please come out with some solution which will be beneficial for the defence pensioners instead of putting into an hardship.

    Thanks & Regards,
    Ex-sgt. D RAGOTHAMAN

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  8. Why can't we feel good to pay for ourselves. Thank heavens, we are income tax payers, we have income to pay tax.

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  9. Radhey Govind March 9, 2017 at 10:57 PM :I fully endorse your view point.Majority of the Indian mass is under the false notion that if any one is retiree of defence A to Z are free and exempt.The concessions offered by Govt through ZSB are pea nuts.Still our EXSM are behind them.Why? Poverty?
    Secondly I pray that adverse notices should not be served to EXSMs after they filed the ITR with form 10E

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  10. From this month should we get pension without tax deduction and arears of deducted tax and DA also.

    ReplyDelete