Incomplete AIS

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Amit Kumar Das

Retd

173 Points Posted on 24 June 2024

If the SFT part of AIS does not show all information of FY 2023-24, what is to be done by an individual resident tax payer for paying income tax and efiling ITR ?

In the instant case, AIS is not showing saving bank interest paid by a particular bank to me.

Is AIS is still being updated, or it is due to non-reporting by that bank.

But, that bank has reported all information relating to FD interest paid and TDS and correctly reflected in AIS.

Please, advise.

Replies (6)

Quick Summary

If your Annual Information Statement (AIS) is missing information, such as savings bank interest, don't worry. You can still file your Income Tax Return (ITR) by aggregating the missing amounts yourself. Obtain an interest certificate from your bank and check for TDS deductions. Ensure all income is declared in your return to avoid issues, especially if you're opting for the old tax regime where deductions like 80TTB may apply.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

121528 Points Posted on 24 June 2024

If interest is below Rs. 10K, few banks do not report it.

You can aggregate the amount received as interest, and file ITR at this stage.

MPR Sanjay Kumar

1675 Points Posted on 24 June 2024

Honourable dheeraj lal sir ,what is mean by business receipts in tis report?? I have to show in my return ??

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

121528 Points Posted on 24 June 2024

Equivalent to sales under head PGBP

Amit Kumar Das

Retd

173 Points Posted on 24 June 2024

Thank you for immediate reply which you always do.

I want clarification of the first portion of your reply that if the interest (savings bank) is below 10K few banks do report.

Do you mean total annual interest or amt of a single transaction ?

In my case, total annual interest paid by this bank is more than 10K which is the sum of four transactions all below 10K

10K mark was crossed in the third transaction on 06.11.2023

Should not the bank have reported for inclusion in AIS ?

However, I will include the amt of total interest while working out taxable income.

Amit Kumar Das

Retd

173 Points Posted on 24 June 2024

Originally posted by : Dhirajlal Rambhia
	If interest is below Rs. 10K, few banks do not report it. You can aggregate the amount received as interest, and file ITR at this stage.

Thank you for immediate reply which you always do.

I want clarification of the first portion of your reply that if the interest (savings bank) is below 10K few banks do report.

Do you mean total annual interest or amt of a single transaction ?

In my case, total annual interest paid by this bank is more than 10K which is the sum of four transactions all below 10K

10K mark was crossed in the third transaction on 06.11.2023

Should not the bank have reported for inclusion in AIS ?

However, I will include the amt of total interest while working out taxable income.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

121528 Points Posted on 24 June 2024

I meant it for total annual interest accrued plus paid.

It is strange how the bank has not reported till date. As a rule, they will surely report it. Get interest certificate from bank (can be even downloaded from their website), even get TDS certificate (form 16B), as quite likely that they would have deducted TDS over it.

Reconcile that with your data, and file return aggregating that in your ITR.

If you are filling it under old regime, you will get deduction under sec. 80TTB of amount up to Rs. 50K.

Good luck.....