Features of Annual Information Statement (AIS)

What is Annual Information Statement (AIS)?

AIS stands for Annual Information Statement newly introduced by Income Tax, which empowers the department to provide an Annual Information Statement to the assesses, such that AIS will contain a wide summary of several financial transactions incurred by the assesses during any assessment year. The basic aim of the introduction of AIS is to widen the information of financial transactions for the assesses, which would facilitate filing his/her return of income and compute his liability of tax which is to be paid by him/her for such financial transaction. AIS will also help the department re-check the return of income filed by the assesses at the end of the respective assessment year, as it will provide all the details of transactions incurred by the assesses under one statement. AIS shows a basic summary of all the basic financial information available with the income tax department traced against your PAN. AIS is powered by the compliance portal of the Income Tax Department....

Features of Annual Information Statement (AIS)

1. Components of AIS: AIS comprises of two parts Part A contains your General Information like PAN number, Aadhar number, Date of Birth, mobile number, email address, and residential address. Whereas, Part B contains important financial information like TDS\TCS information, SFT(Statement of financial transactions) information, Payment of taxes, Demand and Refunds (if any), and other information....

How to check your Annual Information Statement?

Now we are addressing the elephant in the room, How can we check our Annual Information Statement (AIS) for any assessment year? Here, the basic pre-requisite is that you should have registered your PAN on the Income Tax portal (which requires basic details relating to you). Here are some series of steps that you can follow to check your Annual Information Statement (AIS) -:...

What is an AIS PDF Password?

The income Tax department has taken care of user data protection and all the files of AIS/TIS are secured with a password, so this gives access to these statements only when you enter the correct combination of Passwords for these files. The password for the income tax statements is a combination of your PAN (in lowercases) and Date of Birth (DDMMYYYY) in case you are an individual, and in case of a company/firm, date of incorporation (DDMMYYYY) is to be entered. For example: In case your PAN is AZAPJ2169B and your DOB is 10/12/1986, then your password to view AIS/TIS will be azapj2196b10121986....

How to open AIS PDF?

AIS can be downloaded in PDF, JSON, or CSV format. To open an AIS PDF, the following steps can be followed:...

What are the different types of information shown in AIS?

AIS is like a wider version of form 26AS, AIS shows information that can be vital for filing of return of income AIS layout all the important information about your financial activities. AIS comprises Two parts which are:...

How to submit feedback in AIS?

The Income Tax Department has provided a facility where the users of AIS can provide their feedback and concerns on the transactions reported in AIS. If the user thinks that the transaction reported under AIS is not correct they can rectify the same by providing feedback on the compliance portal of Income Tax. Users can submit their feedback, either online or through the offline utility provided by Income Tax. Some steps which are required to be followed to give feedback are as follows:...

What to do if there is an error in AIS or Form 26AS?

The income tax Department has issued a series of FAQs to address the doubts and queries of users. In this regard, they have specified that the AIS will include information that is presently available with the income tax department....