Bank Balance reflect in AIS form

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This discussion addresses concerns about savings and FD account balances appearing on the AIS form for FY 2022-23. If you have multiple accounts with a significant balance, especially if you haven't filed an ITR in previous years, it could raise questions. It's recommended to file an updated return for AY 2023-24 after April 1st, 2023, particularly if there haven't been any high-value cash deposits.

Nisha Kathuria

Nisha Kathuria (Querist)
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03 March 2023 Dear Sir,

In FY 2022-23 Assessment year 2023-24 Saving Bank account and FD bank account balance reflect in AIS form so assess can face any problem because he has 2 to 3 saving account and balance more then 12 Lacs. its not a one year balance its about 4 to 5 years balance. previous years his annual income is less then 2.5 Lacs so he not filed ITR but previous 2 years FY 2020-21 & FY 2021-22 to Contentious filed his ITR.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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03 March 2023 As such no problem if there is no cash deposits of high value in these accounts.
A query for non-filing of ITR may be due, so better to file updated return for AY 2023-24 after 01.04.2023.

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Nisha Kathuria

Nisha Kathuria (Querist)
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03 March 2023 Thank you Very much Sir,

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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03 March 2023 You are welcome.

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