TDS ON ARREARS
Banks have charged 20% of arrears paid as Income Tax for those who have not submitted PAN Number to the Bank and charged 10% for those who have submitted PAN Number.
Some banks have deducted more tax than what they are due to pay. Rs.53000 has been recovered as TDS on one Hon. Captain’s pension. Likewise many JCOs and Hon. Officers have been affected.
All those who have been taxed more than their due are to get Form 16, and Pension paid statement for the period from April 2015 to Mar 206 from their Pension paying banks and file IT return with the help of an Auditor before July 31, 2016. You must have PAN Card, Cir.547 Arrear calculation sheet and OROP arrear calculation sheet to get refund.
You will get refund from Income Tax Department by August, 2016. For Hon. Capt. The refund will be more than Rs.25,000. Please do it now without wasting time.
ALL THOSE WHO HAVE SUFFERED INCOME TAX ON ACCOUNT OF ARREARS CAN CLAIM REFUND. SUBMIT YOUR RETURN BEFORE JULY 31, 2016.
Exp:55%
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