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AIS / TIS

Abhinandan (student) (140 Points)

30 July 2024

Time deposit after 90days maturity, the amount has been reinvested in Time deposit again for 90days. 7 laks 4 times but in AIS TIS it's showing Time deposit of rs 30 lakhs.. how to rectify this ?

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7 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (184852 Points)
Replied 30 July 2024

No need to rectify, It shows the investment amount only, not redemption in the same year.

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Abhinandan (student) (140 Points)
Replied 30 July 2024

Thank you sir, So need to show it as 7lakhs under investments and interest accrued in B/S . no need to worry about the 30laks in AIS/TIS.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (184852 Points)
Replied 30 July 2024

Correct. You have redemption receipts with reivestments.

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Abhinandan (student) (140 Points)
Replied 30 July 2024

Yes sir. Guess everytime the investment is made a new account number is given so AIS/TIS sees it as new purchase, 7lac re-invested 4 times comes around 30lacs.

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (184852 Points)
Replied 30 July 2024

That is correct, but you have the (FD) certificates with investment dates & maturity dates, So let the numbers be different but the bank statement provides the total details of redemption proceeds and its reivestments.

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Abhinandan (student) (140 Points)
Replied 30 July 2024

Yes sir all Time deposit were made electronically so full details available. Thank you very much sir.

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