New Delhi: To help taxpayers get comprehensive information about tax-related information, the Income Tax Department on Monday released a new Annual Information Statement (AIS) on its portal, which will give you an option to submit feedback as well.
What information is available on AIS?
The new AIS will show additional information related to interest, dividend, securities transactions, mutual fund transactions and foreign remittance information. The new AIS also provides a simplified Taxpayer Information Summary (TIS), which shows the overall value for the taxpayer for ease of filing returns.
Read also: BSE, NSE will be closed for two days this week. Check Muhurta Trading Timings
It is to be noted that till the full operationalization of the new AIS, Form 26AS will be available on the TRACES portal. Once the taxpayer submits the response to AIS, the information received in TIS will be automatically updated in real-time and used before filing of returns which will be implemented in a phased manner.
Income Tax Department releases new Annual Information Statement (AIS) on the Compliance Portal. It provides a comprehensive view of information to the taxpayer along with the facility of getting feedback online. Click on ‘AIS’ link under ‘Services’ tab https://t.co/GYvO3n9wMf to use. pic.twitter.com/Ub4EAgmkLq
— Income Tax India (@IncomeTaxIndia) November 1, 2021
The Central Board of Direct Taxes (CBDT) said, “Taxpayers are requested to refer to the information shown in the Annual Information Statement (AIS) and respond if the information needs to be amended.” If you have filed Income Tax and certain information has not been included in the ITR, the return can be modified to reflect the correct information as shown in the TIS.
“If there is any discrepancy between the TDS/TCS information or details of tax displayed in Form 26AS on the TRACES portal and the TDS/TCS information or information relating to tax payment displayed in AIS on the Compliance Portal, the taxpayer shall be liable for ITR filing and other Tax compliance. For this purpose TRACES may rely on the information displayed on the portal.”
Here’s how to download Annual Information Statement (AIS)
Log in to the e-filing portal (https://eportal.incometax.gov.in/iec/foservices/#/login) using your PAN or Aadhaar and your password.
Go to the ‘Services’ section on the top menu and click on ‘Annual Information Statement (AIS)’.
Then click on ‘Proceed’ and click on Download button in AIS tab
Select PDF or JSON option and click on ‘Download’
Click on PDF and enter password to open the document
Remember that the password will be your PAN and your date of birth. For example, if your PAN is ABCDE1234F and your date of birth is 01/01/1978 then the password to open the document would be ABCDE1234F01011978.
After entering the password you can see all the details in your AIS. If you find any discrepancy in AIS or TIS you can submit feedback online and the same will be updated.
(with inputs from PTI)
.