The Ministry of Defense has clarified that the tax details for the financial year 2024-25 have been uploaded on the TRACES portal. In such a situation, the tax deducted from your pension and its complete information will now be visible in Form 26AS.
New Pension System: If you take pension through SPARSH (System of Pension Administration, Defense), then there is big news for you. The Ministry of Defense has recently issued an important update related to income tax for SPARSH pensioners. The details of income tax and TDS (Tax Deducted at Source) for the financial year 2024-25 have now been uploaded on the TRACES portal. That is, you can now check your tax details in Form 26AS. Not only this, Form 16 will also be available on the SPARSH portal soon.
SPARSH gives big relief, tax details now online
SPARSH has made the work easier for its pensioners. Now you do not need to wander here and there for information related to income tax and TDS. The Ministry of Defense has made it clear that the tax details for the financial year 2024-25 have been uploaded on the TRACES portal. This means that the tax deducted from your pension and its complete details will now appear in Form 26AS.
Giving information about this on the SPARSH website, it has been told that the income and TDS details for the financial year 2024-25 have been processed and uploaded on the TRACES portal. Now these details are visible in Form 26AS. Soon Form 16 will also be available on the SPARSH portal. You can check these details in the View Tax Credit (Form 26AS) section by logging into your income tax e-filing account.
What is SPARSH? Why is it so special?
Now if you are wondering what SPARSH is, then let’s understand it a little. SPARSH means System of Pension Administration, Defence. This is an online portal that provides all pension related services for Indian Armed Forces (Army, Navy, Air Force) and Defense Civilians. Whether you want to check pension details, check pension entitlement, or download income tax forms, everything is available on this one portal. Meaning, now you do not need to visit the pension office. Just need internet connection, login ID and password, and you can get all the information sitting at home.
How to check your pension details?
If you want to check your pension details, then just follow some easy steps. Let’s understand it step-by-step.
1- Login to SPARSH account: First of all go to the SPARSH website and login with your login ID and password. If you have not created an account yet, register first.
2- Go to My Documents section: After logging in, go to the My Documents section. Here you will find the option of Entitlements. By clicking on it, you can see all the details of your pension, such as basic pension, disability element, gratuity etc.
3- Download PPO: If you want your PPO (Pension Payment Order), then click on the PPO option in My Documents itself. You can download it from here.
4- Download Pension Slip: Need a pension slip? No problem. Go to the Pension Slip option in My Documents and download it.
This whole process is so easy that you can manage everything from home without anyone’s help. You just need internet and SPARSH login details.
How to check tax summary?
SPARSH has provided a special feature for pensioners, called Projected Tax Summary. Through this, you can estimate your tax liability for the financial year. It is also very easy to check.
1- Login to SPARSH account: Again, login to the SPARSH website.
2- Go to the Services section: Here you will find the option of Projected Tax Summary. Click on it.
3- Check tax details: This tool will give you an estimate of tax based on your pension income. This will help you understand how much tax you may have to pay this year.
This feature is especially helpful for pensioners who want to do their financial planning in advance. By looking at the tax summary, you can estimate how much tax will be deducted from your pension and how much you should save.
How to download Form 16?
Form 16 is an important document for every salaried or pensioner, as it contains complete details of your income and tax deducted on it. Form 16 is going to be available soon on the SPARSH portal, but when it is available, it will be very easy to download it. Just follow these steps
1- Login to SPARSH website: Go to the official website of SPARSH and login with your login ID and password.
2- Go to My Documents: Here you will find the option of Form 16. Click on it.
3- Download Form 16: Download Part A and Part B of Form 16. Part A contains details of TDS, while Part B contains complete information about your income and tax deduction.
At present, SPARSH has said that Form 16 will be available on the portal soon, so you may have to wait a bit. But as soon as it is available, you can easily download it by following the steps given above.
