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AIS / TIS
Time deposit after 90days maturity, the amount has been reinvested in Time deposit again for 90days. 7 laks 4 times but in AIS TIS it's showing Time deposit of rs 30 lakhs.. how to rectify this ?
Replies (7)
Quick Summary
No need to rectify, It shows the investment amount only, not redemption in the same year.
Thank you sir, So need to show it as 7lakhs under investments and interest accrued in B/S . no need to worry about the 30laks in AIS/TIS.
Correct. You have redemption receipts with reivestments.
Yes sir. Guess everytime the investment is made a new account number is given so AIS/TIS sees it as new purchase, 7lac re-invested 4 times comes around 30lacs.
That is correct, but you have the (FD) certificates with investment dates & maturity dates, So let the numbers be different but the bank statement provides the total details of redemption proceeds and its reivestments.
Yes sir all Time deposit were made electronically so full details available. Thank you very much sir.
So, need not worry, it is the process of reporting by bank/s as asked by ITD, Rest is in our hand.
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