Quick Summary
Taxpayers can now check whether their feedback is acted upon by the Source/Reporting Entities TheAnnual Information Statement (AIS) is available to all registered Income Taxpayers through the compliance portal, accessible through the e-filing website (www.incometax.gov.in). AIS provides details of a large number of financial transactions undertaken by the taxpayer which may have tax implications. AIS is populated based on the financial data received from multiple information sources. In AI
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FAQ :
The CBDT has released a new functionality in the Annual Information Statement (AIS) that displays the status of the information confirmation process, showing whether taxpayer feedback has been acted upon by the source/reporting entities.
Taxpayers can access the AIS through the compliance portal on the e-filing website, www.incometax.gov.in.
The AIS provides details of a large number of financial transactions undertaken by the taxpayer that may have tax implications, populated from various information sources.
Yes, taxpayers can furnish feedback on every transaction displayed in the AIS to comment on the accuracy of the information provided by the source.
Taxpayers will see if feedback was shared for confirmation, the date it was shared, the date the source responded, and the source's response itself (indicating if correction is required).
The main benefit is increased transparency, as taxpayers can now see if their feedback on reported financial transactions has been acted upon by the reporting entities.
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