POSTED BY September 28, 2012 9:12 pm COMMENTS (3)ON
My father got the voluntary retirement on May 2011 from southern Railways. Detailed statement abt the final settlement is given. My father took a loan from the railways for buidling a house(6 yrs back). In that it is mentioned till dec 2011 principal component is over. after that as it is voluntary retirement they have deducted the remaining interest component.
1. In geneally central govt loans will Principle be debited first and then interest deducted ?
One of the railway employees say yes . Experts your take. This seems to be reversal of the normal loan from the banks.
2. My auditor says to get the Form 16 to avoid the confusion.(He did not want to take a risk with the amount given in the Final settlement sheet) if i ask railway offcials they are saying for pensioners they are not generating Form 16?
or I asked them in a separate letter pad stating this much interest is deducted and this much principle is deducted. this is also denied by them.
3.Is it really central government dont have the practise of giving Form 16 to the pensioners? As already in the fY(2012-2013) one real estate transaction is done . So Auditor asking me to avoid unnecessary confusions on this issue and ask me to pay the tax and close the issue.
tax amount is 25000/= .
Please help me whether is there any possibility like RTI to get the FORM 16. I dont want to pay this much tax after genuinely having all the proof from my side.