ais: what is AIS? The tax department answers all your questions about the annual information declaration

The annual information declaration (AIS) is a tool that informs taxpayers of the information available to the tax authorities about them. The AIS is a detailed statement which lists all your financial transactions for a given financial year (FA), and it includes the information required by the Income Tax Act 1961.

The AIS includes information on interest, dividends, stock trades, mutual fund activities, international remittance details, and more. The taxpayer will be able to obtain AIS data in PDF, JSON and CSV formats.

Also read: You may receive an income tax notice if this document is filled with errors

Here are some important FAQs related to the Annual Information Return that have been handled by the Income Tax Department.

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

Rep. The Annual Information Statement (AIS) is a comprehensive view of a taxpayer’s information displayed in Form 26AS. The taxpayer can provide comments on the information displayed in AIS. The AIS shows both the Declared Value and the Modified Value (i.e. the value after considering taxpayers’ comments) in each section (i.e. TDS, SFT, Other information).

The objectives of the AIS are:

• Display complete information to the taxpayer with a facility to capture online comments

• Promote voluntary compliance and enable transparent pre-filling of the declaration

• Deter non-compliance (“For more information, access AIS under the Services menu after login”).

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

Ans- The information displayed on AIS is divided into two parts: PART A- General information

Part-A

It displays general information about you including PAN, masked Aadhar number, taxpayer name, date of birth/incorporation/training, mobile number, email address and taxpayer address.

PART-B


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


SFT Information:- Under this heading, the information received from the reporting entities under the financial transaction report (SFT) is displayed. The SFT code, information description and information value are made available.


Payment of taxes:- Tax payment information under different headings such as withholding tax and self-assessment tax is displayed.


Application and reimbursement: -You will be able to view the details of the request issued and the reimbursement initiated (AY and amount) during a financial year. (Details related to the request will be published soon)


other information: – Details of information received from other sources, such as data relating to Schedule II salary, reimbursement interest, remittances abroad/purchase of foreign currency, etc., are displayed here. (“For more information, access AIS under the Services menu after logging in”).

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

Rep. The Taxpayer Information Summary (TIS) is a summary of aggregate information by category of information for a taxpayer. It shows the processed value (i.e. the value generated after deduplication of information based on predefined rules) and the derived value (i.e. the value derived after taking into account the comments of the taxpayers and processed value) under each category of information (e.g. salary, interest, dividends, etc.). The information derived in TIS will be used for the pre-filling of the declaration, if necessary.

You will see various details in the taxpayer information summary, such as,

• Category of information

• Processed value

• Derived value

In addition, in an information category, the following information is displayed:

• Party through which the information received

• Description of information

• The source of information

• Description of the amount

• Amount (declared, processed, derived)

(“For more information, access AIS under the Services menu after login”)

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

Rep. AIS is the extension of Form 26AS. Form 26AS displays details of real estate purchases, high value investments, and TDS/TCS transactions made during the fiscal year. AIS further includes interest on savings accounts, dividends, rent received, securities/real estate purchase and sale transactions, remittances abroad, interest on deposits , GST turnover, etc. The AIS also offers the taxpayer the possibility of giving his opinion on the transactions declared. In addition, transaction aggregation at the information source level is also reported in TIS.

(“For more information, access AIS under the Services menu after login”)

5. Can I track activity history in AIS?

Answer- Yes, you can track activity history in AIS by clicking the Activity History button on the AIS homepage. You will receive a summary view of the activity performed on the AIS functionality. System generated identifier (Activity ID) will be created for each activity performed, activity date, activity description and details will be displayed under this tab.

(“For more information, access AIS under the Services menu after login”)

6. How can I consult the annual information declaration?

Rep. You can access the Annual Information Statement feature by following the steps mentioned below: Step 1: Log in to the URL https://www. incometax.gov.in/

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

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

Step 4: Select the relevant financial year and click on the AIS tile to display the annual information declaration.

(“For more information, go to AIS in the Services menu after logging in.” More details on AIS can be found in the Annual Information Statement User Guide available in the “Resources” section of the AIS homepage.)

7. In what formats can I download my AIS?

Rep. You can download the Annual Information Statement (AIS) in PDF, JSON, CSV file formats

8. What is an AIS consolidated comments file?

Rep. The AIS Consolidated Comments File (ACF) gives taxpayers the ability to view all of their AIS comment information (other than comments, “The information is correct”) in one pdf for easy understanding. After submitting the AIS comments, you can download the AIS consolidated comments file (PDF). (“For more information, access AIS under the Services menu after logging in”).

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

Rep. Currently, there is no limit to the number of times you can edit previously given comments.

10 Can I check the TPS turnover in AIS?

Ans- Yes AIS displays the TPS turnover information under the information code (EXC-GSTR3B). The same would be visible in the Other Information tab in AIS.

11. Is there a video tutorial available for AIS?

Answer – Yes, an informational video is available on YouTube for AIS. This video can be accessed here Basic information on the functionality of the annual information declaration – YouTube

12. Will confirmation be received when submitting AIS comments?

Answer – Yes, after successfully submitting your feedback on the AIS information, the Activity History tab will be updated and you can download the acknowledgment of it. Email and SMS confirmations for submission of comments will also be sent.

13. What will happen once I submit feedback?

Rep. Upon successful submission of the AIS information comments, the comments will be displayed with the information and the changed value of the information will also be visible with the reported value. The Activity History tab will also be updated and you can download the receipt. Email and SMS confirmations for submission of comments will also be sent.

(“For more information, access AIS under the Services menu after login”)

14. How can I send feedback on information?

Rep. You can submit comments on the active information displayed under TDS/TCS Information, SFT Information or Other Information by following the steps mentioned below:

Step 1: Click on the “Optional” button mentioned in the Comments column for relevant information. You will be directed to the “Add Comments” screen.

Step 2: Choose the appropriate feedback option and enter the feedback details (depending on the feedback option).

Step 3: Click “Submit” to submit feedback (“For more information go to AIS in the Services menu after login”).

15. What does the “General Information” section contain under AIS?

Response General Information displays general information about you including PAN, Masked Aadhar Number, Taxpayer Name, Date of Birth/Incorporation/Training, Mobile Number, Email Address and taxpayer’s address. (“For more information, access AIS under the Services menu after login”)

How to view the Annual Information Statement (AIS) on the Income Tax Portal

How to view the Annual Information Statement (AIS) on the Income Tax Portal

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