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INDIAN INSTITUTE OF TECHNOLOGY KHARAGPUR

No: IITKGP/F&AlITl2016/21 December 5, 2016

CIRCULAR

SUB: TDS on Income from Pension

In continuation to Circular No. IIT/KGP/F&AlPension Cell/2016 dated 28th March, 2016, all selfPensioners are hereby requested to submit ONLlNE Income Tax Declaration Form by 20th December 2016for the Financial Year 2016-17 to claim deduction under Chapter VIA, u/s 80C etc. as per Income Tax Act.

A pensioner can submit his/ her form ONLlNE by using user Id and log in pass-word. The relatedlink is https:llerp/iitkgp.ernetin/Pensioner Facilities-» Declaration. The link is available on liT Kharagpurwebsite under Former Ernployee-» Log in facility to PIS/ERP.

Alternatively, a pensioner can submit hard copy of Declaration Form in the prescribed format( copyenclosed) to Mr. S Nayak, Assistant Registrar (A/cs), F&A Section, liT Kharagpur, P.O. TechnologyPost Office, Dist: Paschim Medinipur, Pin Code: 721 302 or by zo" December, 2016.

In order to process pension for the month of December, 2016 & January, 2017 the provisionaldeclaration form is to be submitted at the earliest but not later than 20th December, 2016 which will betaken into consideration for the purpose of calculating TDS.

The last date of submission of signed copy of Declaration Form as per prescribed format along withall supporting documents in support of claim for deduction mentioned in Declaration Form is 31st January,2017. The Declaration Form is to be submitted to Mr. S Nayak, Assistant Registrar (Alcs), F& A Section,P.O. Technology Post Office, Dist: Paschim Medinipur, Pin Code: 721 302.

In the event of non-submission of supporting documents, deduction shall not be allowed and FinalTax will be calculated based on available documents only. Since, Institute is following March -February asthe annual pension disbursement cycle, the Final Tax installment for the financial year 2016-17 will bededucted from the self pension to be disbursed for the month of February, 2017.

In any self pensioner wishes to Deposit / Invest u/s 80 after the last date of submission but on orbefore 31st March, 2017, the deduction / refund, if any, will have to be claimed by the individual at the timeof filling his / her individual Income Tax Return.

Encl: As stated.

To:i) All Self Pensionersii) Pensioners' Association

Copy for information to:i) Secretary to Directorii) Secretary to Deputy Directoriii) Secretary, Office of the Registrariv) Deputy Registrar (F&A)v) Institute Website - Former Employee

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Indian Institute of Technology KharagpurDeclaration for deduction under VIA and 80C for the year 2015-2016

1.01

'l~e ~'House rent paid to the Original rent receipt of everyLandlord- U/S 10(131 A) month(with revenue stamp

for rent paid above Rs.4999/-) or Rent agreement.Receipt shounld containPAN of Landlord ifrenet forthe year exceeds one lakh.

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Date of Birth: PAN:

Mediclaim Policy Copy orPremium Certificate

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Deduction in respect ofMedical Insurance Premia.Sec 80D.(Family andParents)

A) Maximum Limit for Family(spouse and dependant children)General Rs.25000/- and Sr. CitizenRs.30, 000/-andB) Maximum Limit for Parents(dependant or otherwise) GeneralRs.25000/- and Sr. Citizen Rs.30,000/-

oInterest paid on Housing Certificate from Bank I Rs.30,000

1.02 Loan. Loan taken before Financial Institution01/04/99 U/s 24 B

Interest paid on Housing Certificate from Bank I Rs.2,00,000/-·1.03 Loan. Loan taken after Financial Institution

01/04/99 U/s 24 B

2.01 o

2.02

Deduction in respect ofmaintenance includingmedical treatment ofhandicapped dependent whois a person with disabilitySec-80DD

Copy of the certificateissued by the Medicalauthori ty IBCR TH I ITKharagpur ..

Disability-Rs. 75000Severe Disability-Rs.125000. o

Deduction in respect ofMedical Treatment DeceaseSec-80DDB

Certificate in the prescribedForm from a Neurologistand oncologist, urologist,Haematologist or such otherspecialist as may beprescribed working in aGovt. Hospital/BCRTH,lITKharagpur.

Citizen: Rs.40000Senior Citizen: Rs. 60000Super Senior Citizen: Rs. 80000.

2.03 o

2.04

Deduction on Interest on Certificate from Bank ILoan for Higher Study- Sec Financial Institution80E

Entire payment of Interest isdeductable. Tax deduction isavailable for a maximum of 8 yearsor till the interest paid, which everis earlier,

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Generation Date: Dee 2,20166:00 PM Generated Through: ERP, lIT KGP

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Indian Institute of Technology Kharagpur

Name of the Pensioner

Declaration for deduction under VIA and 80C for the year 2015-2016

Date of Birth: PAN:Email Id: Contact No:~~~~ ~~------~------------,---------~,

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Expenditure on Disability For Self Disability Disability-2.06 80-U Rs. 75000

Severe Disability-Rs.125000.

3.01 Public Provident Fund Copy of Payment Receipt /(excluding EPF/ NPS/CPF) Passbook

Life Insurance Premium Copy of Premium Payment3.02 including Pension Plan & Receipt (proposal receipt

ULIP will not be considered)

3.03 NSC Purchased during the Copy ofNSC Certificate/syear

3.04 Interest on NSC Purchased Statement regarding date ofpurchase & amount

3.05 Tuition Fees (Up to Two Copy of Payment ReceiptChildren) from School

3.06 Post office Term Deposit Copy of Receipt

3.07 Bank Fixed Deposit (More Copy ofFD Receiptthan 5 Years)

3.08 Sukanya Samriddhi Account Copy of Deposit Receipt(for below 10 years girls)

3.09 Home Loan Principal Certificate fr 0 mPayment Bank/Financial Institution

2.05

Deduction on House RentPaid. Sec-80GG

Original Rent Receipt ofevery month (with RevenueStamp for rent paid aboveRs. 4999/~) or RentAgreement. Receipt shouldcontain PAN of Landlord ifRent for the year exceedsone Lakh.

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Exemption of HRA is a least ofthese three(i)Rent paid less 10% salary(ii)Rs. 2000/- per month ie.maximum deduction available isRs.24000(iii) 25% of total IncomeNote: There are some condition forthis benefitAssessee or his spouse or minorchild should not hold residentialaccommodation at the place ofemployment.He should not get a House RentAllowanceHe should not have self occupiedresidential premises at any otherplace.

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Contribution to Annuity Certificate from Financial Rs. 150000/-3.10 policy of LIC or any other Institution/LIC

insurer

Add i t ion a I N P S Copy of additional personal Maximum limit of Rs-50,000/-3.11 c o n tri b ut ion (pers on al contribution

outside IITKGP)

DECLARA TION

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Generation Date: Dec 2, 20J6 6:00 PM Generated Through: ERP, UT KGP

,m Indian Institute of Technology KharagpurDeclaration for deduction under VIA and 80C for the year 2015-2016

Name of the PensionerEmail Id:

Date of Birth: PAN:

Date:

Signature of the PensionerPensioner Code

Generation Date: Dee 2.20166:00 PM Generated Through: ERP. liT KGP