I-T Dept Rolls Out New Annual Info Statement To Ease Tax Filing Process. Know How To Access It

The new AIS will show additional information related to interest, dividend, securities transactions, mutual fund transactions and foreign remittance information

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New Delhi: With a view to helping taxpayers get a comprehensive view of tax-related information, the income tax department on Monday rolled out a new annual information statement (AIS) on its portal that 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 for a simplified taxpayer information summary (TIS), which shows the aggregated value for the taxpayer for the ease of filing returns.

It is to be noted that until the complete operationalisation of the new AIS, Form 26AS will remain available on the TRACES portal. Once the taxpayer submits feedback on AIS, the derived information in TIS will automatically get updated in real-time and used for pre-filling of return which shall be implemented in a phased manner.

Income Tax Dept rolls out the new Annual Information Statement(AIS) on the Compliance Portal. It provides a comprehensive view of information to taxpayer, with facility to capture online feedback. Click on link 'AIS' under the 'Services' tab on https://t.co/GYvO3n9wMf to access. pic.twitter.com/Ub4EAgmkLq

— Income Tax India (@IncomeTaxIndia) November 1, 2021

"The taxpayers are requested to view the information shown in annual information statement (AIS) and provide feedback if the information needs modification," the Central Board of Direct Taxes (CBDT) said. In case you have filed the income tax and some information has not been included in the ITR, the return may be revised to reflect the correct information as shown in TIS.

"In case there is a variation between the TDS/TCS information or the details of tax paid as displayed in Form 26AS on TRACES portal and the TDS/TCS information or the information relating to tax payment as displayed in AIS on compliance portal, the taxpayer may rely on the information displayed on TRACES portal for the purpose of filing of ITR and for other tax compliance purposes," it added.

Here's How to download the 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.

Move to the ‘Services’ section at the top menu and click on ‘Annual Information Statement (AIS)’.

Then click on ‘Proceed’ and click on the download button in the AIS tab 

Select either the PDF or the JSON option and click on ‘Download’

Click on the PDF and enter the password to open the document

Remember the password will be your PAN and your date of birth. For instance, if your PAN is ABCDE1234F and your DoB id 01/01/1978 then the password to open the document will be ABCDE1234F01011978.

After entering the password, you can view all the details in your AIS. If you find any discrepancy in the AIS or the TIS then you can submit online feedback and the same will be updated.

(With inputs from the PTI)