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Annual Information Statement (AIS) under Income Tax Act

Annual Information Statement (AIS)

Introduction

Annual Information Statement (AIS) is a crucial component of income tax compliance in India. It is designed to streamline the reporting process for taxpayers and tax authorities. Here are the key points about AIS:

What is Annual Information Statement (AIS)

Annual Information Statement (AIS) is comprehensive view of information for a taxpayer displayed in Form 26AS. Taxpayer can provide feedback on information displayed in AIS. AIS shows both reported value and modified value (i.e. value after considering taxpayer feedback) under each section (i.e. TDS, SFT, Other information).

The objectives of AIS are:

  • Displays complete information to the taxpayer with a facility to capture online feedback
  • Promotes voluntary compliance and enable seamless prefilling of return
  • Deters non-compliance

For more information, navigate to AIS under e-File/AIS menu after login.

What is the difference between AIS and Form 26AS

AIS is the extension of Form 26AS. Form 26AS displays details of property purchases, high-value investments, and TDS/TCS transactions carried out 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 the taxpayer the option to give feedback on the transactions reported. Further, the aggregation of transactions on information source level is also reported in TIS.

For more information, navigate to AIS under e-File/AIS menu after login.

How can I view the Annual Information Statement

You can access the Annual Information Statement functionality by following below mentioned steps:

  • Step 1: Login to URL https://www.incometax.gov.in/.
  • Step 2: After login, click Annual Information Statement (AIS) menu on dashboard.
  • Step 3: Click on Proceed button which will redirect to AIS portal and click on AIS tile to view the Annual Information Statement.

Alternatively,

  • Step 1: Login to URL https://www.incometax.gov.in/.

  • Step 2: After login, click e-File menu.

  • Step 3: Click on Income Tax Return > View AIS.

  • Step 4: Click on Proceed button which will redirect to AIS portal and click on AIS tile to view the Annual Information Statement.

 

 

What are the components of Annual Information Statement (AIS)

The information shown on AIS is divided in two parts:

PART A- General Information

Part A displays general information pertaining to you, including PAN, Masked Aadhar Number, Name of the Taxpayer, Date of Birth/ Incorporation/ Formation, mobile number, e-mail address and address of Taxpayer.

PART B – TDS/TCS Information

Information related to tax deducted/collected at source is displayed here. The Information code of the TDS/TCS, Information description and Information value is shown.

  • SFT Information: Under this head, information received from reporting entities under Statement of Financial transaction (SFT) is displayed. The SFT code, Information description and Information value is made available.
  • Payment of Taxes: Information relating to payment of taxes under different heads, such as Advance Tax and Self-Assessment Tax is shown.
  • Demand and Refund: You will be able to view the details of the demand raised and refund initiated (AY and amount) during a financial year. (Details related to Demand will be released soon).
  • Other Information: Details of the information received from the other sources, such as data pertaining to Annexure II salary, Interest on refund, Outward Foreign Remittance/Purchase of Foreign Currency etc. is displayed here.

For more information, navigate to AIS under e-File/AIS menu after login.

Can I track the activity history in AIS

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

For more information, navigate to AIS under e-File/AIS menu after login.

What does Taxpayer Information Summary (TIS) contain under AIS

Taxpayer Information Summary (TIS) is an information category wise aggregated information summary for a taxpayer. It shows processed value (i.e. value generated after deduplication of information based on pre-defined rules) and derived value (i.e. value derived after considering the taxpayer feedback and processed value) under each information category (e.g. Salary, Interest, Dividend etc.). The derived information in TIS will be used for pre-filling of return, if applicable.

You will be shown various details within the Taxpayer Information Summary such as,

  • Information Category
  • Processed Value
  • Derived Value

Further, within an Information Category, following information is shown:

  • Part through which information received
  • Information Description
  • Information Source
  • Amount Description
  • Amount (Reported, Processed, Derived)

For more information, navigate to AIS under e-File/AIS menu after login.

In what all formats can I download my AIS

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

How do I submit feedback on the information

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

  • Step 1: Click on Optional button mentioned in the Feedback column for relevant information. You will be directed to Add Feedback screen.
  • Step 2: Choose the relevant feedback option and enter the feedback details (dependent on feedback option).
  • Step 3: Click Submit to submit the feedback

For more information, navigate to AIS under e-File/AIS menu after login.

What will happen once I submit the feedback

Upon successful submission of feedback on AIS information, the feedback will be displayed with the information and the modified value of the information will also be visible with the reported value. The activity history tab will also be updated, and you will be able to download Acknowledgement Receipt. Email and SMS confirmations for submission of feedback will also be sent.

For more information, navigate to AIS under e-File/AIS menu after login.

Would I get any confirmation on submission of AIS feedback?

Yes, after successful submission of your feedback on AIS information, the activity history tab will be updated, and you will be able to download Acknowledgement Receipt of the same. Email and SMS confirmations for submission of feedback will also be sent.

What is AIS Consolidated Feedback file

AIS Consolidated Feedback file (ACF) gives the taxpayers a facility to view all their AIS feedback (other than feedback, ‘Information is correct’) related information in one pdf for easy understanding. After submitting the feedback of the AIS, you can download the AIS consolidated feedback file (PDF).

For more information, navigate to AIS under e-File/AIS menu after login.

Is there any limit on the number of times I can modify a given feedback

Currently, there is no limit on the number of times you can modify previously given feedbacks.

Can I verify the GST turnover in AIS

Yes, AIS does display the information related to GST turnover under information code (EXC-GSTR3B). The same would be visible in the Other Information tab in AIS.

Is there any video tutorial available for AIS?

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