Are you asking whether not to report the income? It amounts to tax evasion which is illegal. You shall delcare the income and do tax planing, which is legal to reduce the tax burden.
For a retired govt employee all these are exempted incomes under section 10.
You sholud declare all exempted income in ITR1 even if it is not shown in Form 16.
Show 15 lakh in 27 d of ITR form with appropriate section.
Show 6 lakhs in ITR-1 Salary plus Allowance plus perquisites.
You need to show taxable income under head salaries and exempt income under Other, under head Exempt income which is available after ROW NO D14 in ITR 1
Mr Nikhil Vyas
Go to S.no 27 d
1) s.no 1 click on the down ward arrow - select 10(10) - put gratuity amount in green cell
2) s.no 2 again click on down ward arrow select 10(10AA) - put leave encashment amount in green cell
3) s.no 3 again click on down ward arrow select 10(11) - put GPF(statuary provident fund) amount in green cell.
EXEMPTION PART IS OVER
4) In salaries and pension s.no 1 put 6 lakhs amount which is taxable
I HOPE THIS IS CLEAR
MR Ganesh S.no 27 is for reporting purpose only . It does not come under Taxable income.
Shirish S S has explained it correctly.
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