The key information sources under this information category are as under:
S.No | Information | Information Description |
1 | Cash withdrawals from current account (SFT-003) | Information pertaining to Cash withdrawals from current account is reported by reporting entity inform 61A. The information will be shown in AIS of all account holders to enable submission of feedback. |
2 | Cash withdrawals from account other than current account (SFT-004) | Sometimes, cash withdrawals from accounts other than current account are reported by the Reporting Entity in SFT-004. The information will be shown in AIS of all account holders to enable submission of feedback. |
3 | Cash Withdrawals (Section 194N) | Information pertaining to Cash withdrawals is reported by reporting entity through TDS statement 26Q. This information is provided by the deductor to the taxpayer in Form 16A. |
The approach for AIS processing and information handling is as under:
In case of SFT information reported in account based reporting format, where one bank account is reported with more than one person (e.g. joint account holders), the information will be shown in AIS of all related persons (along with relationship type) to enable submission of feedback.
For each reporting entity/deductor, higher of cash withdrawals reported in form 61A and TDS statement will be retained and information source with lower value will be marked as “Information is duplicate / included in other information”.
The AIS information level feedback can be used for providing following inputs:
Information is correct
Information is not fully correct: This functionality can be used to modify Account number,Information value 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).
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