57 Types of Income & Expenses to be Reflected in AIS on the Income Tax Portal

By: Admin
May 28, 2024
Categories: Important News|Income Tax|News
4 Min Read

The CBDT has released a Handbook on the Annual Information Statement (AIS) and provided a list of 57 types of income and expenses to be reported in the AIS on the Income Tax Portal. This comprehensive list encompasses a wide range of financial transactions and activities that individuals and entities must report for tax filing purposes. It includes salary, rent received, dividends, interest income, and various other revenue sources, as well as expenses like business expenses, rent payments, and cash transactions. The aim is to capture a broad spectrum of financial activities. Accurate reporting of these incomes and expenses is crucial for taxpayers to ensure compliance with tax regulations and avoid penalties or legal issues. Additionally, thorough reporting assists tax authorities in effectively assessing and collecting taxes or granting refunds.

For Complete Handbook: CLICK HERE