The key information sources under this information category are as under:
S.No | Information | Information Description |
1 | Cash payments for goods and services (SFT-013) | Information pertaining to Cash payments for goods and services is reported by reporting entity in form 61A. |
2 | Purchase of bank drafts or pay orders or banker's cheque in cash (SFT-001) | Information pertaining to Purchase of bank drafts or pay orders or banker's cheque in cash is reported by reporting entity in form 61A. |
3 | Purchase of prepaid instruments in cash (SFT-002) | Information pertaining to Purchase of prepaid instruments in cash is reported by reporting entity in form 61A. |
4 | Cash Payments for purchase of Bullion and Jewellery (Section 206C) | Information pertaining to purchase of bullion and jewellery is reported by tax collector in TCS form 27EQ (quarterly statement). This information is provided by the collector to the taxpayer in Form 27D. |
5 | Cash Payment for purchase of any other goods (other than bullion/jewellery)(Section 206C) | Information pertaining to purchase of other goods is reported by tax collector in TCS form 27EQ (quarterly statement). This information is provided by the collector to the taxpayer in Form 27D. |
6 | Cash Payment for receipt of service (Section 206C) | Information pertaining to purchase of other services is reported by tax collector in TCS form 27EQ (quarterly statement). This information is provided by the collector to the taxpayer in Form 27D. |
The approach for AIS processing and information handling is as under:
Information relating to cash payments made is reported by Reporting entity through SFT (statement of financial transactions) under form 61A. Similarly, seller of bullion/jewellery/goods/services collects tax from purchaser in respect of sales made in cash and reports these transactions through TDS form 27EQ.
The AIS information level feedback can be used for providing following inputs:
Information is correct
Information is not fully correct
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).
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