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)