The key information sources under this information category are as under:
S.No | Information | Information Description |
1 | Receipts from transfer of immovable property (Section 194IA) | Information related to receipts from transfer of immovable property is reported by buyer of property in Form 26QB. This information is provided by the deductor to the deductee (taxpayer) in Form 16B |
The approach for AIS processing and information handling is as under:
Buyer /Deductor while making payment in respect of property purchased is required to deduct tax and report the same in TDS form 26QB if the overall payment in respect of such property exceeds 50 lakhs rupees.
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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