Error AIS modification submitted
This query is : Resolved
05 January 2025
A an assessment has sold unlisted shares of Rs 7500000 to B a dealer in shares on which TDS under sec 194Q of Rs.7500 has been deducted mentioned as sale of goods business receipts A the assessee has modified it in the AIS to capital receipts which is incorrect and should be the other option Information is not fully correct .The return of income is correctly filed the sum of Rs.7500000 as sale value of the shares and deduction of cost of acquisition Rs 4000000 leading to capital gains of rRs. 3500000 .The assessee had recd the notice for modification in AIS but despite repeated attempts to modify the the feedback shows error and no modification could be done it allows modification only in the figs. Whethercorrection in AIS can be made after intimation of the return is made and what is the procedure for the same or any other option to correct AIS is available?
06 January 2025
Ask the deductor to rectify the return, if TDS on the securities was not deductible.
06 January 2025
The error is in the correction made in AIS no modification in it can be made .what is the option available for correction after intimation is recd.
06 January 2025
Based on the SFT report of the deductor AIS cannot be corrected now.
06 January 2025
What are the option available for change in AIS after intimation of return
06 January 2025
AIS will not accept it as capital receipt in any case.
Declare it as income...
Declare it as income...
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