Annual Information Statement (AIS) has made the process of filing returns much easier than before. But to take advantage of this facility, you must have complete information about it.
ITR filing: The Annual Information Statement (AIS) has made the process of filing income tax returns much easier than before. But to take advantage of this facility, you need to have complete information about it. First of all, we have to know what AIS means, so that we can use it correctly while filing our return (ITR).
Actually, the Annual Information Statement is an annual statement introduced by the Income Tax Department in 2021, in which information about most of the financial transactions made by a taxpayer during a financial year is given together. It also includes information about different sources of income of that taxpayer.
How AIS made ITR filing easier
Before the introduction of AIS, taxpayers used to see all the details related to their tax in Form 26AS. This included the details of TDS, TCS, Advance Tax and Self Assessment Tax of that taxpayer. But in 2019, the Income Tax Department introduced AIS as a statement in which complete information about the income of a taxpayer for the entire financial year is given together. This includes all transactions like interest income, dividend, rental income, GST turnover, transactions of shares and mutual funds, income from abroad, purchase and sale of property of that person.
Also, if any correction is to be made in it, then the taxpayer also has the option to give online feedback. In a way, AIS can also be called an extension of Form 26AS, which contains details of the financial transactions and tax related activities of the taxpayer during the entire financial year.
Another change from the financial year 2022-23 is that now the details of advance tax, self-assessment tax and regular assessment tax paid by a person appear in AIS instead of Form 26AS. In this way, through AIS, taxpayers get the details of all their types of income together, at one place, to file income tax returns. It can also be said that in the form of AIS, taxpayers get pre-filled income tax returns, which makes the work of tax filing easier.
How to download AIS
Annual Information Statement (AIS) can be downloaded from the e-filing website of the Income Tax Department. For this, taxpayers have to log in to their e-filing account on the Income Tax portal. After which they can view their statement by visiting the AIS portal. Apart from this, the Income Tax Department has also launched a free mobile application called “AIS for Taxpayers”, through which the complete details of AIS can be easily viewed.
You will find your AIS here
Step 1: Log in to the Income Tax Portal (url: https://eportal.incometax.gov.in/iec/foservices/#/login)
Step 2: After logging in, click on the Annual Information Statement (AIS) menu on the dashboard.
Step 3: Click on the ‘Proceed’ button which will redirect you to the AIS portal
Step 4: Click on AIS to view the Annual Information Statement.
Step 5: Click on either of the two options: Taxpayer Information Summary (TIS) or Annual Information Statement (AIS). Here you will see the financial year, PAN and your name of the AIS.
Step 6: Download your statement by clicking on Download.
