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.
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