Annual Information Statement (AIS) information category ‘Winning from horse race under Section 115BB’
Annual Information Statement, shortly known as AIS, is a statement of all-inclusive information for an income taxpayer displayed in Form 26AS. Under each section of AIS, reported value and updated value (that is value after considering the feedback of taxpayer) will be displayed.
On the other hand, Taxpayer Information Summary, shortly known as TIS, is a category-wise information summary for an income taxpayer. TIS will be updated on the basis of the feedback provided by the taxpayer in AIS. It will be used for the pre-filing of the Income Tax Return.
The present article provides a briefing on the AIS information category ‘winning from horse race u/s 115BB’.
The AIS information source under the said category is summarized hereunder-
The AIS processing under the said category will be done in the following manner-