AIS MISTAKE IN CORRECTION

 A AN ASSESSEE HAS RECD RS. 700000 AS SALE OF UNLISYED SHARES FORM X A DEALER IN SHARES.

TDS OF UNDER SEC 194 Q HAS BEEN DEDUCTED UNDER THE HEAD SALE OF GOODS AND MENTIONED AS BUSINESS RECEIPTS  HIS   ANNUAL INFORMATION (AIS)WHICH A  HAS CORRECTED IN AIS AS CAPITAL RECEIPTS .  CAPITAL RECEIPTS MEANS CAPITAL GAINS ON SALE OF SUCH SHARES WHICH  IS INCORRECT IN FACT SHOULD HAVE BEEN INFORMATION IS NOT CORRECT. ONE OF THE OTHER OPTION AVAILABLE IN THE AIS 

HE HAS FILED HIS INCOMETAX RETURNS FOR THE A.Y.2024-25. SHOWING THE AMOUNT  UNDER THE HEAD  CAPITAL GAINS MENTIONED IN AIS AS GROSS RECEIPTS  RS.70000 COST OF ACQUISTION RS. 30000 CAPITAL GAINS OF 40000 HE HAD RECD AND A NOTICE FOR MODIFY AIS AND WHEN HE TRIES TO MODIFY IT SHOWS AN ERROR MESSAGE STATING NO UPDATE HAS BEEN DONE ON THE INFORMATION SOURCE//LAST MODIFIED  PLEASEUPDATE RELEVANTATTRIBUTESTO SUBMIT RELEVANT FEEDBACK IS THERE ANY OPTION TO CORRECT THE FEED BACK IN AIS AFTER  THE INTIMATION OT THE RETURN IS SENT.OR WHEN AN APPEAL FOR THE SAME IS DONE. OR IS THERE ANY OTHER OPTION FOR THE CORRECTION

Replies (1)

To address the issue with the AIS (Annual Information Statement) modification error, consider the following steps:

Understanding the Issue The error message indicates that no update has been done on the information source/last modified, preventing the modification of AIS.

Resolving the Issue To correct the feedback in AIS:

 1. *Verify the information*: Ensure the capital gains information in the AIS matches the details reported in the income tax return (ITR) for A.Y. 2024-25.

2. *Check for any updates*: Confirm that there are no pending updates or changes to the AIS information source.

 3. *Contact the Income Tax Department*: Reach out to the Income Tax Department's helpline or support team to report the issue and seek assistance.

4. *Submit a grievance*: If the issue persists, submit a grievance through the Income Tax Department's online portal.

Alternative Options If the above steps don't resolve the issue:

 1. *File a revised return*: If the error is due to incorrect information in the original return, consider filing a revised return with the correct details.

2. *Appeal to the CIT(A)*: If the issue is not resolved, you can appeal to the Commissioner of Income Tax (Appeals) [CIT(A)].

Important Considerations

1. *Timely resolution*: Resolve the issue promptly to avoid any potential penalties or consequences.

2. *Documentation*: Maintain detailed records of all communications and attempts to resolve the issue.

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details