AIS includes information on interest, dividends, stock trades, mutual fund activities, international remittance details, etc. Taxpayers will be able to get AIS data in the formats of PDF, JSON and CSV.
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Here are some important Annual Information Statement-related FAQs that have been addressed by: Income tax Department.
1. What is Annual Information Statement (AIS)?
Answer. Annual Information Statement (AIS) Form. Has a comprehensive view of information for the taxpayer displayed in 26 AS, The taxpayer can provide feedback on the information displayed in the AIS. The AIS shows both the value reported under each section (i.e. TDS, SFT, other information) and the revised value (i.e. value after considering the taxpayer’s response).
The objectives of AIS are:
• Display complete information to the taxpayer with the facility to get feedback online
• Promote voluntary compliance and enable seamless pre-filing of returns
• Prevent non-compliance (“For more information. Navigate to AIS under Services menu after login”).
2. What are the components of Annual Information Statement (AIS)?
Ans- The information shown on AIS is divided into two parts: PART A- GENERAL INFORMATION
part One
It displays general information related to you, including PAN, masked Aadhaar number, taxpayer’s name, date of birth/incorporation/formation, mobile number, e-mail address and taxpayer’s address.
Part-B
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TDS/TCS Information:- Information related to tax deduction/collection at source is displayed here. The information code, information description and information value of TDS/TCS are shown.
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SFT Information:- Under this head the information received from the reporting entities under Financial Transaction Statement (SFT) is displayed. SFT code, information details and information value are provided.
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pay taxes:- Information related to payment of taxes under various heads like advance tax and self-assessment tax is displayed.
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demand and return:-You will be able to view the details of the demand raised and refund initiated (age and amount) during a financial year. (Details related to demand will be released soon)
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other information:- Details of information received from other sources, such as Annex II data relating to salary, interest on return, outward foreign remittance/ purchase of foreign exchange etc., are displayed here. (“For more details. Navigate to AIS under Services menu after login”).
3. What is included in Taxpayer Information Summary (TIS) under AIS?
Answer. Taxpayer Information Summary (TIS) is an information category wise consolidated information summary for a taxpayer. It is the value processed (i.e. value generated after duplication of information based on pre-determined rules) and derived value (i.e. after considering taxpayer’s response and processed value) under each information category (like salary, interest, dividend etc.) the received value). The information received in TIS will be used for pre-filling the return, if applicable.
You will be shown various details in the Taxpayer Information Summary such as,
• Information Category
• Processed Value
• Derived Value
In addition, the following information is shown within an information category:
• The part through which the information was received
• Information Details
• Source of information
• Zodiac Details
• Amount (Reported, Processed, Derived)
(“For more details. Navigate to AIS under Services menu after login”)
4. What is the difference between AIS and Form 26AS?
Answer. AIS is an extension of Form 26AS. Form 26AS displays the details of purchase of property, high value investments and TDS/TCS transactions during the financial year. AIS additionally includes savings account interest, dividend, rent received, purchase and sale transactions of securities/immovable properties, foreign remittances, interest on deposits, GST turnover, etc. AIS also provides an option to the taxpayer to provide feedback on the reported transactions. In addition, the aggregation of transactions at the information source level is also reported in TIS.
(“For more details. Navigate to AIS under Services menu after login”)
5. Can I track activity history in AIS?
Ans- Yes, you can track activity history in AIS by clicking on Activity History button on AIS homepage. You will be provided with a summary view of the activity done on AIS functionality. System generated ID (Activity ID) will be generated for each executed activity, activity date, activity details and description will be displayed under this tab.
(“For more details. Navigate to AIS under Services menu after login”)
6. How can I view the Annual Information Statement?
Answer. You can access the Annual Information Statement functionality by following the steps given below: Step 1: Login to the URL https://www.incometax.gov.in/.
Step 2: After successful login to e-filing portal click on “Annual Information Statement (AIS)” under “Services” tab from e-filing portal.
Step 3: On the homepage, click on the AIS tab.
Step 4: Select the relevant financial year and click on the AIS tile to view the annual information details.
(For more information. Navigate to AIS under the Services menu after login. More details on AIS can be found in the Annual Information Statement User Guide, available in the “Resources” section on the AIS homepage.)
7. In what formats can I download my AIS?
Answer. You can download Annual Information Statement (AIS) in PDF, JSON, CSV file formats
8. What is AIS Integrated Feedback File?
Answer. The AIS Consolidated Feedback File (ACF) allows taxpayers to view all their AIS feedback (other than the feedback, ‘Information is correct’) related information in a single PDF for easy understanding. After submitting the AIS Feedback, you can download the AIS Consolidated Feedback File (PDF). (“For more details. Navigate to AIS under Services menu after login”).
9. Is there a limit to the number of times I can revise a given feedback?
Answer. Currently, there is no limit to the number of times you can revise previously provided feedback.
10 Can I verify GST turnover in AIS?
Ans- Yes Displays information related to GST business under AIS Information Code (EXC-GSTR3B). The same will appear in the Other Information tab in AIS.
11. Is there any video tutorial available for AIS?
Ans- Yes, there is an informative video on YouTube for AIS. This video can be viewed here Basic information on Annual Information Statement functionality – YouTube
12. Will there be any confirmation on submission of AIS Feedback?
Ans- Yes, after successful submission of your response to AIS information, the Activity History tab will be updated, and you will be able to download the acknowledgment receipt of the same. Email and SMS confirmation will also be sent for submission of feedback.
13. What happens after I submit feedback?
Answer. On successful submission of feedback on AIS information, the feedback will be displayed along with the information and the revised value of the information will also appear along with the reported value. The Activity History tab will also be updated, and you will be able to download the acknowledgment receipt. Email and SMS confirmation will also be sent for submission of feedback.
(“For more details. Navigate to AIS under Services menu after login”)
14. How do I submit feedback on information?
Answer. You can submit feedback on active information displayed under TDS/TCS information, SFT information or other information by following the steps below:
Step 1: Click on the “Optional” button mentioned in the Feedback column for relevant information. You will be directed to the ‘Add Feedback’ screen.
Step 2: Select the relevant Feedback option and enter the Feedback details (Depending on the Feedback option).
Step 3: Click on “Submit” to submit the feedback (“For more details. Navigate to AIS under Services menu after login”).
15. What is included in the “General Information” section under AIS?
Answer General Information Displays general information related to you including PAN, Masked Aadhaar Number, Taxpayer Name, Date of Birth / Incorporation / Formation, Mobile Number, E-mail Address and Tax Payer Address. (“For more details. Navigate to AIS under Services menu after login”)