AIS mismatch- How to modify AIS, as entry is wrong in AIS

[Shan S]

In AIS, it is given lower amount, but FD interest is higher ; FORM 16A interest given by bank also is lower due to some migration. but filed correctly. how to update that in AIS

 

[TANAY GHILDIYAL]

Firstly if the Income reported by you is higher than that mentioned in the AIS you need not to worry and no action needs to be taken at your end. You have already done your job by reporting the correct amount that too higher. As a second point if the income is lower than you can disagree with the information and there is specific area within the AIS where you can place your remarks.

A similar incidence occurred with my client where some professional income was being reflected and even TDS was being shown, it basically happened because someone"s Income was put on my client"s PAN. So we filled the ITR with correct information avoiding the income source as well as the TDS and the we also filed a disagreement with the information providing a reason out of the drop down list as provided by the IT Department.

Tanay Ghildiyal

9873938771

AI Summary

Taxpayers Should Verify AIS Income and File ITR with Correct Data Under Income Tax Rules If the income reported by the taxpayer is higher than the amount shown in the Annual Information Statement (AIS), no corrective action is required since the correct, higher income has been declared. However, if the income reflected in the AIS is higher than the actual income, the taxpayer can disagree with the AIS information and provide remarks in the designated section. In cases where incorrect income or Tax Deducted at Source (TDS) is attributed to a taxpayer due to data errors, the taxpayer should file the Income Tax Return (ITR) with accurate information and submit a disagreement with the AIS, selecting an appropriate reason from the options provided by the tax authorities.