The Central Board of Direct Taxes (CBDT) has enabled direct access to the Annual Information Statement (AIS) in the Income Tax Portal. The income tax department has provided the direct tab to access the statement.
Now you can view the AIS in two ways:
Also Read: Check AIS/TIS now in “AIS for Taxpayers” App by Income Tax Dept
Form 26AS’s Annual Information Statement (AIS) provides a thorough overview of the data for a taxpayer. The taxpayer can comment on the data shown by the AIS. Under each part (such as TDS, SFT, and Other information), AIS displays both the reported value and the modified value (i.e., value after taking taxpayer feedback into account).
The extension of Form 26AS is AIS. Details of real estate acquisitions, high-value investments, and TDS/TCS transactions made during the financial year are shown in Form 26AS.
In addition, AIS contains income from savings accounts, dividends, rent paid, purchases and sales of stocks and real estate, international transfers, interest on deposits, GST turnover, etc.
You can download Annual Information Statement (AIS) in PDF, JSON, CSV file formats. There are two components of AIS namely, Part A – General Information and Part B – TDS/TCS information.
The AIS is important while filing the Income Tax Returns. As the deadline is nearing, the tax professionals have to take extra precautions to file the returns of their clients on time. The new update was to ease the process to access the AIS and view the information reported to the Income Tax department.
Also Read:: Income Tax TDS Credit Claim Issue: Here’s All You Need to Do on ITR-Form 26AS-AIS Mismatch
In a press release about the e-Verification Scheme, the Central Board of Direct Taxes (CBDT) advised income taxpayers to file amended returns in the event that their income was underreported or not reported at all.
Notably, 33,000 taxpayers will face consequences from the Income Tax Department for failing to submit amended returns in order to fix the Income Tax Return – Annual Information Statement Mismatch.
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