Excess Interest shown in AIS


This query is : Resolved 

Quick Summary
A taxpayer is experiencing an issue where yearly accrued interest on bank and post office deposits is being shown as a lump sum in their AIS for a single year, causing problems with their Income Tax Return (ITR) filing. They are seeking a remedy for this discrepancy. The advice given suggests providing feedback within the AIS portal, as AIS generally reports interest on an accrual basis rather than a receipt basis.

02 August 2024 Sir, on Bank and Post office deposits, I used to show yearly interest accrued while filing my ITR. On maturity of theses deposits, entire interest is shown in AIS in a single year. Is there a remedy for this ?

02 August 2024 Select and Submit your feedback on it in AIS.
Go to AIS tab in the income tax portal and expand any tab to view the information. As shown below, upon expanding the TDS/TCS information tab there is an option to give feedback.

03 August 2024 even AIS shows on accrual basis. I do not think they report on receipt basis.


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



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
ARTICLESHIP 26 August 2026
CA Article Assistant/CA Drop Out/Accounts Executive

PARV & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details
Company
27 August 2026
ACCOUNTANT

CHARUPREETI & CO

Noida

Graduate (Any)

View Details