The AIS provides for a simplified taxpayer information summary (TIS), which shows the aggregated value for the taxpayer for the ease of filing returns. It additional information relating to interest, dividend, securities transactions, mutual fund transactions, foreign remittance information, etc. The reported information has been processed to remove duplicate information. “There may be other transactions relating to the taxpayer which are not presently displayed in the AIS,” the I-T Department has said.
Some Important Key Taxpayers Must Know
- If they (taxpayers) feel that the information is incorrect, related to other person/year, duplicate etc., a facility has been provided to submit online feedback.
- Feedback can also be furnished by submitting multiple information in bulk.
- An AIS Utility has also been provided for taxpayers to view AIS and upload feedback in offline manner.
- The reported value and value after feedback will be shown separately in the AIS.
- In case the information is modified/denied, the information source may be contacted for confirmation.
- If the taxpayer submits feedback on AIS, the derived information in TIS will be automatically updated in real time.
- The derived information in TIS will be used for pre-filling of Return (pre-filling will be enabled in a phased manner).
- Taxpayersshould check all related information and report complete and accurate information in the Income Tax Return.
Step-by-Step Guide to Download Annual Information Statement
- Visit the income tax website – incometax.gov.in
- Login to your account
- From the ‘Services” dropdown menu, select the final option – “Annual Information Services (AIS)”.
- You will be redirected to the instructions page
- Select the ‘AIS’ tab placed next to ‘Instructions’.
- Select download button
- Next, select the format in which you would like to download the AIS.
- Once the statement is downloaded, open the file.
- Enter a password and view your AIS.