The key information sources under this information category are as under:
S.No | Information | Description |
1 | Income from units of investment fund (Section 194LBB) | This information is reported by the deductor in Form 26Q on a quarterly basis. |
The approach for AIS processing and information handling is as under:
In case similar information is reported under different information types, records with higher value of investment 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
Income is not taxable
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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