ITR
Transaction in AIS belongs to someone else
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Facts
You can give feedback in AIS that information relates to another person or is for a joint holder. The reporting entity may be asked to confirm, and the AIS shows the modified value once accepted.
Provisions and law
- Sec 285BB, Income-tax Act 1961 (now Sec 510, Income-tax Act 2025)The department provides an Annual Information Statement showing information it holds about the taxpayer.
- Sec 285BA, Income-tax Act 1961Banks, registrars, mutual funds and others report specified high-value transactions to the department.
Analysis
Joint accounts are often reported in full against every holder. If the money was your father's, choose the feedback option that it relates to another PAN or that it is a joint account income, and give his PAN where asked. Keep proof such as the account opening form showing who funds the account. If the campaign is open, respond there with the same explanation.
Conclusion
- Open AIS and find the entry.
- Choose the feedback option that fits, such as relating to another person.
- Enter details of the actual owner if asked.
- Respond to the e-campaign with the same explanation.
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