What Is the Difference Between Reported Value and Modified Value in AIS?
AIS can display both the value reported by the source and a modified value after taxpayer feedback or source confirmation. Understanding the distinction helps taxpayers reconcile AIS information without treating the original reported amount as the only figure available.
Quick Answer
Reported Value is the value received or reported by the information source. Modified Value reflects the value after considering taxpayer feedback or source confirmation, as applicable.
What Is Reported Value in AIS?
Reported Value represents the value reported by the information source. It provides the starting point for reviewing the information displayed in AIS.
What Is Modified Value in AIS?
The Income Tax Department states that AIS shows modified value, meaning the value after considering taxpayer feedback or source confirmation on the taxpayer's feedback.
Where Can I See These Values?
The AIS FAQ states that both reported value and modified value are shown under relevant sections such as TDS, SFT and Other Information.
Why Does the Difference Matter?
If you provide feedback or the source confirms information, the modified value can differ from the originally reported value. Reviewing both values helps explain how an AIS item has changed.
Important
A modified value in AIS should still be considered together with the taxpayer's complete records and the applicable tax treatment when preparing the ITR.
Frequently Asked Questions
Can modified value be different from reported value?
Yes. The Income Tax Department specifically states that AIS can show both reported value and modified value after taxpayer feedback or source confirmation.
Does modified value automatically determine my taxable income?
No. Taxability and ITR reporting depend on the applicable tax rules and the taxpayer's complete facts and records.
Why might AIS show two values?
The two values can reflect the originally reported information and the value after feedback or source confirmation.
Related EZTax Resources
- What Is AIS (Annual Information Statement) in Income Tax?
- AIS vs Form 26AS: What Is the Difference?
- How to Correct Incorrect Information in AIS
- How to Check AIS Before Filing Your ITR
- AIS Reconciliation and AI-Powered Income Tax Filing with EZTax
Official Source
For the current AIS functionality and taxpayer guidance, refer to the Income Tax Department's AIS FAQ.
