The key information sources under this information category are as under:
S.No | Information Sources | Information Description |
1 | Opening of an account other than saving and time deposits (Form 60/61) | Details of bank account other than saving and time deposits opened during the year , as reported in Form 61. |
2 | Account with balance exceeding Rs.50,000 (Form 60/61) | Bank account with balance exceeding 50,000 at the closing of Financial year, as reported in Form 61. |
The approach for AIS processing and information handling is as under:
Reporting entity reports information relating to balance in account through form 61. RE reports non-PAN transactions through form 61.
The AIS information level feedback can be used for providing following inputs:
Information is correct
Information is non-reportable in return
Information is not fully correct: This functionality can used to modify Information value, Account number, Account number type etc.
Information relates to other PAN/Year
Information is duplicate / included in other information
Information is denied
The feedback provided by taxpayer will be shown separately in AIS and will update the value in Taxpayer Information Summary (TIS).