AIS entry for time deposit ( after breaking of time deposit)

Hi,

I have time deposit in ICICI and HDFC Bank. When interest rates had gone up towards end of 2022, I had liquidated all of my time deposits and created new time deposits. As the amount was more than the threshold thus its being shown under SFT in AIS.

HDFC Bank had shown the liquidated amount under "Gross Amount Paid to Person" and the value of new time deposit under "Gross Amount Received from the person".

In case of ICIC Bank, they had only shown the value of new time deposit under "Gross Amount Received from the person", but they have mentioned the 'Gross Amount Paid to Person" as zero.

In such a scenario, should I respond on AIS mentioning the details shown for ICICI is partially correct and update the liquidated time deposit value for "Gross Amount Paid to Person" column.

Will appreciate guidance from the experts on the group.

 

Replies (7)
Quick Summary
An NRI is seeking clarification on how their NRE time deposit transactions are reflected in their Annual Information Statement (AIS). After liquidating old deposits and opening new ones due to rising interest rates, they've noticed discrepancies in how HDFC and ICICI banks report the 'Gross Amount Paid to Person' and 'Gross Amount Received from the Person'. Specifically, ICICI shows zero for the amount paid out, which the user suspects is incorrect and wants to know if they should manually update this in the AIS feedback.

Any discrepancy in AIS ( Annual information statement ) on Income tax portal , you have to give Feedback, in feedback section in AIS , on Income tax portal.

Thanks. My question is should I report the total value of liquidated time deposit under the heading "Gross Amount Paid to Person".

Is Discrepancy in AIS on Income tax portal ?.
Discrepancy is on AIS. Its not shown in Income Tax Portal as they are NRE time deposits.

Are  you NRI ( Non resident  Indian )  having  NRE time deposit account ,  in both  HDFC  & ICICI  bank here in India ?. 

Yes. My Resident status is NRI and I have NRE deposits in both HDFC and ICICI Banks.
Ok , in earlier reply you said, discrepancy is in AIS , but not shown on Income tax portal , because you are NRI , but AIS is part of Income tax website. please clarify.

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