Annexure-II
In this article, we discuss the source of information received by the income tax department regarding the salary income of an assessee and the information processing procedure
The key information sources under this information category are as under:
S.No | Information | Description |
1 | Salary (TDS Annexure-II) | Employer submits detailed breakup of salary, perquisites, profits in lieu of salary, etc. paid to the employee in Annexure II of the TDS statement (24Q) of the last quarter. This information is also provided by the employer to the employee (taxpayer) in Part B (Annexure) of Form 16. |
2 | Salary Received (Section 192) | Employer submits TSA quarterly statement (Form 24Q) with details of amount paid to employee and amount of tax deducted from the employee. All salary reported in TDS quarterly statement is provided by the employer to the employee (taxpayer) in Form 16. |
The approach for AIS processing and information handling is as under:
For an employer (TAN) and employee (PAN), if the salary reported in TDS Annexure-II is equal to or more than the sum of salary payment in Quarterly TDS Statements (Section 192), all salary payment amounts in Quarterly TDS Statements (Section 192) will be marked as “Information is a duplicate / included in other information”.
For an employer (TAN) and employee (PAN), if the sum of salary payments in quarterly TDS statements (Section 192) is more than the salary reported in TDS Annexure-II, the salary reported in TDS Annexure-II will be marked as “Information is a duplicate / included in other information”.
The AIS information level feedback can be used for providing the following inputs:
Information is correct
Income is not taxable
Information is not fully correct – This functionality can be used to modify salary details.
Information related to other PAN/Year
Information is duplicate / included in other information
Information is denied
The feedback provided by taxpayers will be shown separately in AIS and will update the value in Taxpayer Information Summary (TIS).
The sum of salary received from all employers will be reflected in the Taxpayer Information Summary.
All exempt allowances should be included in the Gross Salary. Allowances to the extent exempt u/s 10 and deduction u/s 16 need to be claimed in return.
Click here for the Annual Information Statement Overview (pbstuty.com)
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