Re: bankpensioner FORM 16 FOR PENSIONERS

[Veeraswami Venkatraman]

The pension paying branch is bound to give Form 16 for the period and thereafter. You can ask the bank to include your other income in for 16 which, according to rule they have to include in Form16

 

Veeraswami. V

Chennai, INDIA

 

From: prabhakara sastry <sontip...@gmail.com>
To: bankpe...@googlegroups.com
Sent: Saturday, July 14, 2012 1:06 PM
Subject: bankpensioner FORM 16 FOR PENSIONERS

Dear Friends !  I am retired bank official in the  middle of 2011. The form 16 is being given by the previous employer for the period up to which the employee has worked and salary / perquisites were paid. My request is to know as to whom i have to approach for the form 16 for the remaining period for which I am receiving Pension during Financial Year 2011-12. When I asked my colleagues who were retired like me on superannuation I am informed that the concerned paying branch of the pensioner is giving a certificate about the amount of pension paid to the concerned. Just I want to know whether this is right action as the pension is being calculated and  giving credits to the accounts every month by PPG department, who is the pension paying / crediting authority to a pensioner. Yours faithfully S Prabhkara Sastry  --
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[ravi jain]

Sir;

Generaly the branches give certificate of pension paid from 01/04/20... to 31/03/20..... in place of F No. 16.

be happy

Ravi jain (PSB)

[SIKANDER GULATI]

Dear friends,
The procedure regarding the issue of F 16 w.e.f 01.04.2011 has been fully computerised & streamlined and the manual issue of F-16 by banks and companies is un-authorised. These forms are to be generated by the branch from   where  the TDS during the year has been deducted and remitted to the Govt. Further to clarify, the form will be generated from the TIN(NSDL) by adopting the given procedure or the bank may avail the services of its facilitator through whom the bank has submitted their quarterly 24Q TDS statements.
So, only one F-16 will be generated even if you have income from two,  three or four employers or other sources.

I hope the position is clarified to Mr. Sastry particularly.

Regards.

S.L.Gulati
Adv.& Tax Consultant
9416189525

[C.RAJAGOPALAN]

Dear

 

From: bankpe...@googlegroups.com [mailto:bankpe...@googlegroups.com] On Behalf Of ravi jain
Sent: Saturday, July 14, 2012 5:47 PM
To: bankpe...@googlegroups.com
Subject: Re: bankpensioner FORM 16 FOR PENSIONERS

 

Sir sastry

 

                    It is the duty of the deductor to give form 16 to the employee from whom tax has been deducted. U need not have to worry about this document.U can view the tax credits to your credit in 26 AS statement. This can be viewed by taking a registration with nsdl . Alternately if you have an internet banking account the statement can be viewed there also. Now all returns are to be filed without annexures and u need not produce form 16 for filing.Form 16 will come in handy only when u have discrepancies in the amount deducted and the amount available to your credit.

 

C Rajagopalan

Syndicate bank pensioner

[SIKANDER GULATI]

Dear Mr Sastry,
Again to clarify that the F-16 is to be generated from the NSDL(TIN) by the deductor of TDS. It is statutory responsibility of the deductor of the TDS, to issue  F No 16 or 16A ,as the case may be, within the time prescribed under the Income Tax Law. Yes, where the pension is paid by a branch of a bank, it is  the H.O or the branch from where the pension is disbursed, to issue F-No 16 to the retiree. Generally, the branches issue a simple certificate on bank's letter head by saying that there is no need of F 16 as the TDS has not  been deducted. That is not as per law, but it does not make any difference to the retiree because no deduction has been made of tax .  I think, the legal position is clarified to you.

Regards.

S.L.Gulati
Adv. & Tax Consultant
9416189525

---------- Forwarded message ----------
From: Sonti prabhakara sastry <sontip...@gmail.com>
Date: Tue, Jul 17, 2012 at 12:06 AM
Subject: Re: bankpensioner FORM 16 FOR PENSIONERS

To: SIKANDER GULATI <sikander...@gmail.com>


Dear S L Galati Sir You are messaging about the salaried employees and the pension for bank retired employees is being paid by a department meant for maintenance Provident Fund account. So as per your advice it is understood that the department concerned paying / crediting pension amounts monthly to the pensioners account should give form 16. 

--
 sastri