Annual Information Statement (AIS): Basic information on Annual Information Statement functionality. Here you will get the details about FAQs on the Annual Information Statement (AIS). You must need to take care of all the particulars shown in AIS before filling your income Tax Return.
What is Annual Information Statement (AIS)?
Annual Information Statement (AIS) is a comprehensive view of information for a taxpayer displayed in Form 26AS. Taxpayers can provide feedback on the 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:
- Display complete information to the taxpayer with a facility to capture online feedback
- Promote voluntary compliance and enable seamless prefilling of return
- Deter non-compliance
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 the information source level is also reported in TIS.
Recommended Blog: Difference Between Form 16 and Form 26AS
How can I view the Annual Information Statement?
You can access the Annual Information Statement functionality by following the below-mentioned steps:
Step 1: Log in to the URL https://www.incometax.gov.in/
Step 2: Click on “Annual Information Statement (AIS)” under the “Services” tab from the e-filing portal after successful login on the e-filing portal.
Step 3: Click on the AIS tab, on the homepage.
Step 4: Select the relevant FY and click on the AIS tile to view the Annual Information Statement.
For more info. navigate to AIS under Services Menu after login”. More details on AIS can be found in the Annual Information Statement User Guide available in the “Resources” section on AIS Homepage.
What are the components of the Annual Information Statement (AIS)?
The information shown on AIS is divided into 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.
- 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 are 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 are made available.
- Payment of Taxes: – Information relating to the 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.
What does the “General information” part contain under AIS?
General information displays the 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.
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 the AIS homepage. You will be provided a summary view of the activity performed on the AIS functionality. System-generated Id (Activity ID) will be created for each performed activity, Activity date, Activity description, and detail will be displayed under this tab.
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 the 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 prefilling 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)
In what all formats can I download my AIS?
You can download the Annual Information Statement (AIS) in PDF, JSON, and 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 the “Optional” button mentioned in the Feedback column for relevant information. You will be directed to the ‘Add Feedback’ screen.
Step 2: Choose the relevant feedback option and enter the feedback details (dependent on the feedback option).
Step 3: Click “Submit” to submit the feedback
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 the submission of feedback will also be sent.
Is there any confirmation that will be received on the 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 the Acknowledgement Receipt of the same. Email and SMS confirmations for the submission of feedback will also be sent.
What is the 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 to the AIS, you can download the AIS consolidated feedback file (PDF).
Is there any limit on the number of times I can modify given feedback?
Currently, there is no limit on the number of times you can modify previously given feedback.
Can I verify the GST turnover in AIS?
Yes AIS does display the information related to GST turnover under the information code (EXC-GSTR3B). The same would be visible in the Other Information tab in AIS.
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