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Annual Information System (AIS)

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Sanjay

Service

81 Points Posted on 28 December 2023

I have filed ITR for the last financial year 2022-23 and received refund as well.

However, recently I observed from IT Portal e-Campaign List, queries regarding High Value Transactions for AY 2023-24 with response due date mentioned and asking response for marked as ''Expected'' to be provided in Annual Information System (AIS).

My learned CA advises - as I have already filed ITR and received refund, I do not need to verify above transactions in Annual Information System (AIS) and can ignore it.

However, I am not convinced and would request advise from this forum.

Replies (2)

Quick Summary

This discussion addresses a user's query regarding Annual Information System (AIS) notices for High Value Transactions after they've already filed their Income Tax Return (ITR) and received a refund. While their CA suggested ignoring the notice, other forum members advise responding to the AIS query, potentially by filing a revised return, to ensure accuracy and compliance. The consensus is that ignoring such notices is not recommended, even if a refund has been processed.