ITR
Small differences between records and AIS
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Facts
AIS shows what was reported to the department. Tiny differences from rounding or a few days of accrual are common. Report your best figure and keep a note; for small amounts, using the higher figure avoids a query.
Provisions and law
- Sec 285BB (now Sec 510)Annual Information Statement of reported transactions and taxes
- Sec 56 (now Sec 92)Income from other sources
Analysis
If the bank certificate says ₹18,400 and AIS shows ₹18,612, many people simply report ₹18,612 to avoid a mismatch flag; the tax on ₹212 is at most about ₹66. For larger gaps, find the reason. Do not give feedback for tiny differences unless you are sure the AIS figure is wrong.
Conclusion
- Check whether the gap is material
- For small gaps, report the higher figure
- For larger gaps, find the reason and give feedback if needed
- Keep a note of the decision
A Savvy can do this for you
Pre-filing reconciliation of AIS, TIS, 26AS and Form 16
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