what to do with AIR in 26AS?
This query is : Resolved
23 February 2018
Part E of my 26AS shows an amount of Rs 195000/- with type of transaction as 005-Acquiring shares >=100000/- and remark column is blank. Is there any thing to do with it in my ITR form. I am filing ITR 2 for A.Y. 2016-17. Kindly suggest as soon possible.
23 February 2018
1. If you have taxable income, file return on or before 31-3-2018, or
2. Log in to the e-filing portal at http://incometaxindiaefiling.gov.in, visit' compliance' menu wherein if you are able to view the details of the transactions, reply online
choosing the appropriate answer from the drop in menu.
2. Log in to the e-filing portal at http://incometaxindiaefiling.gov.in, visit' compliance' menu wherein if you are able to view the details of the transactions, reply online
choosing the appropriate answer from the drop in menu.
26 February 2018
no compliance shown there
03 August 2025
Here’s what you should do regarding the AIR (Annual Information Return) entry showing in Part E of your Form 26AS:
What is this AIR entry?
The Rs. 1,95,000 under transaction type 005 - Acquiring shares >= 1,00,000 means the bank or financial institution has reported your purchase of shares exceeding Rs. 1 lakh to the Income Tax Department.
This is just an information report to track high-value financial transactions, not a tax demand.
What should you do?
Check if the transaction matches your records:
Confirm you did purchase shares worth Rs. 1.95 lakhs or more during the year.
Ensure the amount is correctly reflected.
Does it affect your ITR?
If you declared the income and/or capital gains from the sale of these shares correctly in your ITR, no additional action is needed.
If you didn’t declare such income, then you may have to declare the capital gains or other income arising from those shares in your ITR.
Filing your ITR:
File your ITR (ITR-2 in your case) correctly showing all your income, including capital gains or any income from shares.
The AIR entry itself does not require any separate compliance in your return; it’s just for the department’s tracking.
If there is no compliance shown on the e-filing portal:
You don’t need to respond or take any special action just because this entry appears in Part E.
Just ensure your ITR is accurate and complete.
Summary:
AIR entries like this are informational.
Reconcile this entry with your own financial records.
Declare related income properly in your ITR.
No separate or additional compliance is generally required.
File your ITR before due date with correct data.
What is this AIR entry?
The Rs. 1,95,000 under transaction type 005 - Acquiring shares >= 1,00,000 means the bank or financial institution has reported your purchase of shares exceeding Rs. 1 lakh to the Income Tax Department.
This is just an information report to track high-value financial transactions, not a tax demand.
What should you do?
Check if the transaction matches your records:
Confirm you did purchase shares worth Rs. 1.95 lakhs or more during the year.
Ensure the amount is correctly reflected.
Does it affect your ITR?
If you declared the income and/or capital gains from the sale of these shares correctly in your ITR, no additional action is needed.
If you didn’t declare such income, then you may have to declare the capital gains or other income arising from those shares in your ITR.
Filing your ITR:
File your ITR (ITR-2 in your case) correctly showing all your income, including capital gains or any income from shares.
The AIR entry itself does not require any separate compliance in your return; it’s just for the department’s tracking.
If there is no compliance shown on the e-filing portal:
You don’t need to respond or take any special action just because this entry appears in Part E.
Just ensure your ITR is accurate and complete.
Summary:
AIR entries like this are informational.
Reconcile this entry with your own financial records.
Declare related income properly in your ITR.
No separate or additional compliance is generally required.
File your ITR before due date with correct data.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- FORM 26A APPLICABILITY
- Transporter Declaration form
- LC charges in relation to Asset purchased should be Capitalised ?
- Value of property in capital gain
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- TDS LATE PAYMENT
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
