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

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