AIS vs tis

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Kollipara Sundaraiah

Kollipara Sundaraiah (Querist)
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08 November 2021 Sir,
Difference between AIS(annual information summary) vs TIS in income tax portal.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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09 November 2021
A simplified Taxpayer Information Summary (TIS) is made in order to simplify the ease of filing returns.
The TIS has two values, which are processed value and derived value, and once the taxpayer sends the feedback on AIS, the TIS will be automatically updated on the online platform.
The information in TIS will be utilised in pre-filling of Return i.e. enabled in a phased manner.
The taxpayer should be aware of the Annual Information Statement (AIS) that involves the information presented by the Income Tax Department. Currently, there are no transactions related to the taxpayer shown in the Annual Information Statement (AIS).
Taxpayers can view the information, report, and accurate data in the Income Tax Return.
If the ITR is filed and lacks information that needs to be provided, then the return can be revised with the correct information.

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