VALUABLE AND IMPORTANT INFORMATION FOR PENSIONERS

 

                  VERY VALUABLE AND IMPORTANT INFORMATION

 

Many of the pensioners hesitate  in filing  IT returns,  but there is an important information  that shows that  filing  IT returns  has a great advantage to the families  of Pensioners at the time of any accidental death of the pensioner. 

 

As per section 166 of the Motor Vehicle Act, 1988 ( Supreme court  Judgment under civil appeal No.9858 of 1953 ),

In case, a pensioner died in an accident, his family  is entitled  to 10 times of average income of the last three years , provided he had filed the IT returns  for the last three years.

For Example:

If the monthly pension of a pensioner  is 25000/- , then his annual income will be 25000 X 12= 3,00000/-. Average income of the last three years say  300000/-, then his family will get  10 times of 3 Lacs-   300000 X 10 = 30,00,000/- 30 Lacs  from Government .No other proof , other than IT returns will be required by the court.  So, filing of IT returns  regularly , even NIL returns by the pensioner  will go  a long way in providing a BIG  economic relief to the bereaved family of the pensioner  on his/ her death by accident.

Failure to file  IT returns  due to ignorance about this information will lead to a great loss to the family  of the pensioner .

All our ESM  associations are requested to pass on this message to our veterans in their areas.