Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

AIS vs 26AS vs 16A

Save Share

This query is : Resolved

mahan (Querist)
Follow

25 June 2023 AIS & TIS are showing more interest as paid by bank on deposits while in 26AS and form 16A are less; while AIS & TIS match each other and 26AS &16A (Traces) match each other.

As such it is difficult to ascertain actual interest paid/ accumulated by bank, other than relying on 16A (Traces) issued by the bank.

bank may account the differential amount (26AS to AIS) as accumulated interest as paid in subsequent year.

Kindly advise, Is it better to adhere to 16A (Traces)/ 26AS than on AIS/TIS (interest paid ? or interest accumulated??) for interest paid by bank,for filing Current year IT return?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

25 June 2023 Tax calculation should be based on aggregate income accrued as well as paid for the relevant assessment year. Check the interest certificate issued by bank.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!