I was working in a renowned LTD. Co. Where from I had to resign because of my dept. shifted to other state. The co. provides me a monthly compensation amount and as well I get a Pension the annuity of which was purchased by Co. from LICI.
In the last year I declared my Housing Loan Repayment Figures (deducted from the Co.'s monthly compensation amount) and as well the yearly pension figure. In the recent Form16 I find that Co. has taken the Housing Loan figures but not the Pension figure. The person responsible explained the Matter like this "Now in form 16 we can not show your income from other sources .Form 16 shows the income & TDS details which transacted/paid through that TAN only. Now your pension income is absolutely your personal income and which comes from other sources and not through Co. TAN. Hence, Co. will not show the income in your Form 16."
Now I would like to know if he is lawfully right or not? If he is right then why the row exists in the Investment Declaration form as "Any other income declared by Co.", it is also present in the Form 16 generated through Traces this year. Then what is it meant for?
I request you all to put in your valuable replies quoting the rules or genuine links which I can place before him without any scope of his challenge in the issue.
NOTE: ACTUAL PERSON IS NOT ME. I HAVE MENTIONED MYSELF IN HIS PLACE TO WRITE THE MATTER EASILY. I AM ON BEHALF OF ANOTHER KNOWN MAN. He is an aged man of 55/56yrs or so not a Computer literate and doesn't have an account here as well.
I await your very kind reply to convey him which as per him would be of immense help to take the matter with the co.