What is the new Annual Information Statement launched by the Income Tax Department?
3 years, 1 month ago

What is the new Annual Information Statement launched by the Income Tax Department?

India Today  

The Income Tax Department has initiated the new Annual Information Statement on the online portal which shows the taxpayers a facility that captures online feedback. The facility can be accessed by visiting the online portal link of the Annual Information Statement under the Services tab on the tax e-filing portal, i.e. Here is the list of related information to be known about the new Annual Information Statement: If the taxpayer examines whether the information provided is incorrect and is related to the other person or year. The taxpayer should be aware of the Annual Information Statement that involves the information presented by the Income Tax Department.

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Attention taxpayers: CBDT issues alerts to taxpayers on mismatch in ITR, information statement
1 week ago

Attention taxpayers: CBDT issues alerts to taxpayers on mismatch in ITR, information statement

India TV News  

The income tax department said it is issuing alerts to taxpayers and non-filers where it has identified mismatch between transactions reported in Annual Information Statement and income disclosed in ITRs for the financial years 2023-24 and 2021-22. The Central Board of Direct Taxes in a statement said it has launched an electronic campaign to assist taxpayers in resolving mismatches between …

ITR filing: What is AIS and how to access it? MintGenie explains
1 year, 5 months ago

ITR filing: What is AIS and how to access it? MintGenie explains

Live Mint  

The Income Tax Department provides a comprehensive yearly tax statement known as Form 26AS. The AIS is a detailed document that encompasses information about your financial transactions, which have been reported by various entities, particularly financial institutions, to the tax department throughout the financial year. While Form 26AS focuses on property purchases, high-value investments, and TDS/TCS transactions conducted throughout the …

Income tax filing: How to verify your details on the income tax portal?
2 years, 4 months ago

Income tax filing: How to verify your details on the income tax portal?

Live Mint  

With the income tax return filing season coming to an end soon on July 31, 2022, it makes sense to not postpone filing our returns till the last moment. Though the tax credit statement, Form 26AS, says a lot about earnings from various sources, the Income Tax Department introduced the Annual Information Statement, an extensive document containing information on the …

ITR filing: How to correct error in Annual Information Statement
2 years, 5 months ago

ITR filing: How to correct error in Annual Information Statement

Live Mint  

The last date for filing of income tax return for AY 2022-23 is 31 July. So, taxpayers are advised to check the Annual Information Statement thoroughly as some people have reported discrepancies in the same. What is Annual Information Statement The Annual Information Statement was introduced in November last year. The Income tax department released a much improved Version 2.0 …

Income tax return: What Annual Information Statement (AIS) means for taxpayers?
2 years, 11 months ago

Income tax return: What Annual Information Statement (AIS) means for taxpayers?

Live Mint  

ITR filing: The last date for income tax return or ITR filing for AY 2021-22 is 31st December 2021. Speaking on what this Annual Information Statement means for a taxpayer, Mumbai-based tax and investment expert Balwant Jain said, "AIS is nothing but a statement of financial transactions furnished to it by various entities in respect a taxpayer collated by the …

What is Account Information Statement: All you need to know
2 years, 11 months ago

What is Account Information Statement: All you need to know

Hindustan Times  

The Income Tax Department on November 1 launched a new feature known as the Annual Information Statement, which is a detailed statement of all financial transactions carried out by a taxpayer in a financial year. Part B, meanwhile, has comprehensive details such as tax deducted at source, tax collected at source specified financial transactions, payment of taxes, tax demand, refund …

Income tax: What Annual Information Statement (AIS) means for you?
3 years ago

Income tax: What Annual Information Statement (AIS) means for you?

Live Mint  

The Central Board of Direct Taxes recently announced availability of Annual Information Statement to the taxpayer. AIS is nothing but a statement of financial transactions furnished to it by various entities in respect a taxpayer collated by the tax department based on the PAN. 26AS, the AIS has details of all the transaction which are reported by certain entities under …

Annual Information Statement New Format: Check Out Perks, Features, Key Details
3 years, 1 month ago

Annual Information Statement New Format: Check Out Perks, Features, Key Details

News 18  

The Income Tax Department has introduced a new format for the Annual Information Statement of the taxpayers. The AIS available on the I-T portal is categorised under two tabs- Annual Information Statement and Taxpayer Information Summary. While AIS contains comprehensive information of TDS/TCS, Bank interest Mutual funds, foreign remittance and dissidents, TIS gives aggregated value of such information Now, AIS …

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