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Annual Information Statement (AIS)

The Income Tax Department has rolled out the new Annual Information Statement (AIS) on its compliance portal (incometax.gov.in). The purpose of the new AIS is to make it easier for taxpayers to file their returns.

STEPS TO VIEW DOWNLOAD AIS

1- Visit incometax.gov.in with PAN
2- User have to Go to services tab.
3- Go to Last option Annual Information Statement (AIS)

Annual Information Statement (AIS)

Now the confusion takes place whether we have to file ITR with 26AS or AIS ?

The answer is we have to take both 26AS and AIS while filling ITR

(26AS is Available on TRACES while AIS is available on IT Portal)

AIS

 

Why there is a need of AIS ?

With the upcoming facilities of AIS we have reported that many of our clients does not disclose full information like mutual funds stocks etc. So now with the help of AIS Government has a eye on every transaction and the assessee have to report full information in their ITRs.

Annual Information Statement (AIS) -- Taxpayer Information Summary -- Annual Information Statement

  • Part A - shows basics like income from Salary, PGPB, House property, Capital gains etc
  • Part B - Shows Tds/TCS details any taxes paid etc.
 

Taxpayer can download the above statement with the portal with the password pattern like:

For example: Taxpayer have a PAN Number BXXXX12320 and DOB is 02/02/2012 then password becomes BXXXX1232002022012.

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Category Income Tax, Other Articles by - utkarsh Varshney 



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