The Annual Information Statement (AIS) is a tool that informs taxpayers of the information the tax department has about them. An AIS is a detailed statement that lists all financial transactions during a fiscal year (FY), and includes the information required by the Internal Revenue Service Act of 1961.

AIS includes information on interest rates, dividends, stock trading, joint ventures, international shipping details, etc. Taxpayers can access AIS data in PDF, JSON, and CSV formats.

Also Read: You May End Up With Income Tax Notice If This Document Is Filled With Errors

Here are some important questions related to the Annual Information Statement that were discussed by the tax department.

1. What is the Annual Information Statement (AIS)?

Ans. Annual Information Statement (AIS) is a comprehensive view of information for taxpayers presented in form 26AS. Taxpayers can provide feedback on the information presented in the AIS. AIS shows the reported value and the modified value (ie value after considering the taxpayer’s feedback) under each section (ie TDS, SFT, other information).

The purpose of AIS is to:

• Present complete information to taxpayers with online consultation tools

• Promote voluntary compliance and allow pre-filling of returns

• Avoiding non-compliance (“For more information. go to AIS under the Services Menu after logging in”).

2. What are the components of the Annual Information Statement (AIS)?

Answer- The information displayed on the AIS is divided into two parts: SECTION A- General information

Section A

It shows general information about you, including PAN, Aadhar Number Mask, Taxpayer Name, Date of Birth/Incorporation/Formation, Mobile Number, Email Address and Taxpayer Address.

PART-B


TDS/TCS Information:- Information related to tax deducted / collected at source is displayed here. TDS/TCS information code, information description and information value are displayed.


SFT Information: – Under this head, the information received from the reporting entity is shown in the Statement of Financial transaction (SFT). SFT codes, information descriptions and information values ​​are available.


Payment of taxes:- Tax payment information under different heads, such as Advance Tax and Self Assessment Tax is displayed.


Claims and Returns: -You will be able to see the details of the requests raised and returned (AY and money) during a business year. (Demand related details will be released soon)


Other information: – Details of information received from other sources such as annexure II salary data, interest on refund, foreign remittance/purchase of foreign currency etc. are displayed here. (“For more information. login to AIS under the Services Menu after login”).

3. What does the Taxpayer Information Summary (TIS) contain under AIS?

Ans. The Taxpayer Information Summary (TIS) is a summary of taxpayer information. It shows the processed value (that is, the value obtained from information based on predefined rules) and the derived value (that is, the value obtained from analyzing the feedback ‘the taxpayer and the processed value) under each category of information (eg: Salary, Interest, Dividends etc.). Information obtained from TIS will be used to pre-populate the return, if applicable.

You will be shown various details in the summary of taxpayer information such as,

• Categories of information

• Processed value

• Cost of value

Additionally, in the information category, the following information is displayed:

• Part of receiving information

• Defining information

• Sources of information

• Definition of money

• Cash (reported, processed, collected)

(“For more information. login to AIS under the Services Menu after login”)

4. What is the difference between AIS and Form 26AS?

Ans. AIS is an extension of Form 26AS. Form 26AS shows details of real estate purchases, capital gains and TDS/TCS transactions made during the financial year. AIS also includes interest on savings accounts, dividends, rent received, purchase and sale of securities/immovable assets, remittances, interest on deposits, GST turnover, etc. In addition, transaction sums at the resource level are also reported in the TIS.

(“For more information. login to AIS under the Services Menu after login”)

5. Can I track my activity history in AIS?

Ans- Yes, you can check your AIS activity history by clicking the Activity History button on the AIS page. You will be provided with a summary of the activities performed using the AIS function. A System Generated Id (Activity ID) will be generated for all completed activities, Activity Date, Activity Description and details will be displayed below this tab.

(“For more information. login to AIS under the Services Menu after login”)

6. How can I view the annual statement?

Ans. You can access the annual report by following the steps mentioned below: Step 1: Login to the URL https://www.incometax.gov.in/

Step 2: Click on “Annual Information Statement (AIS)” under the “Services” tab from the e-filing portal after successfully logging in to the e-filing portal.

Step 3: Click on the AIS tab, on the home page.

Step 4: Select the relevant FY and click on the AIS tower to view the annual statement.

(“For more information. go to AIS under the Services Menu after login”. More details about AIS can be found in the User Guide Annual Information Statement (available in the “Resources” section of the AIS Homepage.)

7. In what format can I download my AIS?

Ans. You can download the annual statement (AIS) in PDF, JSON, CSV format

8. What is the AIS Consolidated Feedback file?

Ans. The AIS Consolidated Feedback (ACF) file provides taxpayers with a place to view all AIS feedback (other than feedback, ‘The information is correct’) on relevant information in one pdf for easy access. After submitting your AIS results, you can download the AIS combined feedback file (PDF). (“For more information. login to AIS under the Services Menu after login”).

9. Is there a limit to the number of times I can edit a comment?

Ans. Currently, there is no limit to the number of times you can change a previously given comment.

10 Can I check my GST returns in AIS?

Answer- Yes AIS displays the information related to GST turnover under information code (EXC-GSTR3B). The same will be found in other information tables in the AIS.

11. Are there video tutorials available for AIS?

Answer- Yes, there are informative videos available on YouTube for AIS. This video can be viewed here Basic information about the function Annual Declaration – YouTube

12. Is there any confirmation received for sending AIS results?

Answer- Yes, after you submit your AIS profile response, the event history table will be updated, and you can download the Acknowledgment Letter for the same. Email and SMS confirmation for sending reply will also be sent.

13. What happens when I send feedback?

Ans. Once the AIS information response is completed, the response will be displayed along with the information and the value of the change will also be displayed along with the reported value. The event history table will also be updated, and you can download the Consent Form. Email and SMS confirmation for sending reply will also be sent.

(“For more information. login to AIS under the Services Menu after login”)

14. How do I comment on news?

Ans. You can submit feedback on active information displayed under TDS/TCS Information, SFT Information or any other information by following the steps mentioned below:

Step 1: Click the “Optional” button mentioned in the Feedback column for related information. You will be taken to the ‘Add Feedback’ screen.

Step 2: Select the relevant comment option and enter the comment details (depending on the comment option).

Step 3: Click “Submit” to send the response (“For more information. go to AIS under the Services Menu after login”).

15. What is in the “General Information” section of the AIS?

Ans General information displays your general information, including PAN, Masked Aadhar Number, Taxpayer Name, Date of Birth/Incorporation/Formation, Mobile Number, Email Address and Taxpayer Address. (“For more information. login to AIS under the Services Menu after login”)

How to view the Annual Information Statement (AIS) at the tax portal

How to view the Annual Information Statement (AIS) at the tax portal



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