Income Tax Department Introduces New Annual Information Statement (AIS)

New Annual Information Statement (AIS)

The Central Board of Income Taxes (CBDT) has introduced the new Annual Information Statement (AIS), which can be accessed by clicking on the link “Annual Information Statement (AIS)” under the “Services” tab on the new Income tax e-filing portal. The display of Form 26AS on TRACES portal will also continue in parallel till the new AIS is validated and completely operational.

The new AIS includes additional information relating to interest, dividend, securities transactions, mutual fund transactions, foreign remittance information etc. to provide a comprehensive view of information to a taxpayer with a facility to capture online feedback.

The reported information has been processed to remove duplicate information. Taxpayer will be able to download AIS information in PDF, JSON, CSV formats. However, in case taxpayer feels that the information is incorrect, relates to other person/year, duplicate etc., a facility has been provided to submit online feedback.

Further, CBDT has Informed that in case there is a variation between the TDS/TCS information or the details of tax paid as displayed in Form26AS on TRACES portal and the TDS/TCS information or the information relating to tax payment as displayed in AIS on Compliance Portal, the taxpayer may rely on the information displayed on TRACES portal for the purpose of filing of ITR and for other tax compliance purposes.

Taxpayers are requested to view the information shown in Annual Information Statement (AIS) and provide feedback if the information needs modification.

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