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of <h1>Banks Must Issue Form No. 16 for Pensioners: Pensions Count as Salary Under Income-tax Act, 1961.</h1> The circular addresses issues faced by pensioners regarding the denial of Form No. 16 by banks, which cite the lack of an employee-employer relationship and the form's association with salary deductions. The Board clarifies that under the Income-tax Act, 1961, 'salary' includes pensions, and banks must issue Form No. 16 once tax is deducted, regardless of other income or employment status. These instructions should be communicated to all relevant parties, particularly banks, to ensure compliance with the tax deduction and certification process for pensioners.
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