
The key information sources under this information category are as under:
S.No | Information | Description |
1 | Income from units of a business trust (Section 194LBA) | Information relating to income from units of a business trust is reported by payer in form 27Q. Information is reported on quarterly basis an dis chargeable to tax at special rate. |
The approach for AIS processing and information handling is as under:
In case similar information is reported under different information types, records with higher value of investment will be retained and information source with lower value will be marked as “Information is duplicate/ included in other information”.
The AIS information level feedback can be used for providing following inputs:
Information is correct
Income is not taxable
Information is not fully correct
Information relates to other PAN/Year
Information is duplicate / included in other information
Information is denied
The feedback provided by taxpayer will be shown separately in AIS and will update the value in Taxpayer Information Summary (TIS).
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