CBDT notifies 57 Types of Incomes and Expenses in AIS

CBDT notifies 57 Types of Incomes and Expenses in AIS

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CBDT notifies 57 Types of Incomes and Expenses to be reported in AIS of Income Tax Portal. This thorough list is intended to offer taxpayers extensive

CBDT notifies 57 Types of Incomes and Expenses to be reported in AIS of Income Tax Portal

CBDT notifies 57 Types of Incomes and Expenses to be reported in AIS of Income Tax Portal

The Central Board of Direct Taxes (CBDT) has announced that the Annual Information Statement (AIS) of the Income-tax portal will now include 57 types of income and expenses.

This thorough list is intended to offer taxpayers extensive information to guarantee proper filing and compliance.

The notification covers a wide range of income and expenses, from salaries and rent received to more specific items like as lottery winnings and international travel expenses.

Here’s a complete list of the items now included in the AIS:
57 Types of Income in AIS
#Particulars
1Salary
2Rent received
3Dividend
4Interest from savings bank
5Interest from deposit
6Interest from others
7Interest from income tax refund
8Rent on plant & machinery
9Winnings from lottery or crossword puzzle u/s 1158B
10Winnings from horse race u/s 115BB
11Receipt of accumulated balance of PF from employer u/s 111
12Interest from infrastructure debt fund u/s 115A(1)(a) (ia)
13Interest from specified company by a non-resident u/s 115A(1)(a)(aa)
14Interest on bonds and government securities
15Income in respect of units of non-resident u/s 115A(1) (a)(ab)
16Income and long-term capital gain from units by an offshore fund u/s 115AB(1)(b)
17Income and long-term capital gain from foreign currency bonds or shares of Indian companies u/s 115AC
18Income of foreign institutional investors from securities u/s 115AD(1) (1)
19Income of Specified Fund from securities u/s 115AD(1)(1)
20Insurance commission
21Receipts from life insurance policy
22Withdrawal of deposits under the national savings scheme
23Receipt of commission etc on sale of lottery tickets
24Income from investment in securitization trust
25Income on account of repurchase of units by MF/UTI
26Interest or dividend or other sums payable to the government
27Income of specified senior citizen
28Sale of land or building
29Receipts for transfer of immovable property
30Sale of vehicle
31Sale of securities and units of mutual fund
32Off-market debit transactions
33Off-market credit transactions
34Business receipts
35GST turnover
36GST purchases
37Business Expenses
38Rent payment
39Miscellaneous payment
40Cash deposits
41Cash withdrawals
42Cash payments
43Outward foreign remittance/purchase of foreign currency
44Receipt of foreign remittance
45Payment to non-resident sportsmen or sports associations u/s 1158BA
46Foreign travel
47Purchase of immovable property
48Purchase of vehicle
49Purchase of time deposits
50Purchase of securities and units of mutual funds
51Credit/Debit card
52Balance in account
53Income distributed by business trust
54Income distributed by investment fund
55Donations received
56Receipt on transfer of Virtual Digital Assets
57Winning from Online Games u/s 115 BBJ

Understanding these categories and ensuring proper reporting can help to eliminate errors and increase compliance. Including such a wide spectrum of incomes and expenses demonstrates the government’s commitment to transparency and thoroughness in tax management.

As a taxpayer, it is essential that you stay up-to-date on these changes and appropriately reflect them in your filings. This comprehensive AIS efforts to simplify and clarify the process, ensuring that all taxable income and deductible expenses are properly reported.

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Saral Tax India | सरल टैक्स इंडिया: CBDT notifies 57 Types of Incomes and Expenses in AIS
CBDT notifies 57 Types of Incomes and Expenses in AIS
CBDT notifies 57 Types of Incomes and Expenses to be reported in AIS of Income Tax Portal. This thorough list is intended to offer taxpayers extensive
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