The Do’s & Don'ts of Annual Information Statement (AIS) For Taxpayers

The Income Tax Department has recently rolled out the new Annual Information Statement (AIS) on its compliance Portal which provides a comprehensive view of information to a taxpayer with a facility to capture online feedback. The new AIS includes additional information relating to interest, dividend, securities transactions, mutual fund transactions, foreign remittance information, etc. As a result, the Income Tax Department has issued some dos and don'ts for the convenience of taxpayers. Through a Tweet, the department has reported that "Caveat! There are some Do's & Don'ts which the taxpayer must follow to have a seamless experience in the AIS utility."

Do's

• Use the latest version of the AIS utility.
• Give feedback on the information displayed in AIS.
• Check your TIS to confirm the values used for pre-filing of return.
• View your AIS regularly.
• Use the AIS utility to view AIS and provide feedback if the transactions count is high.

Don'ts

• Don't use the old version of AIS JSON for preparing feedback through utility.
• Don't provide incorrect feedback on the AIS information.
• Don't share your e-filing credentials with anyone.

The new AIS can be accessed by clicking on the link "Annual Information Statement (AIS)" under the "Services" tab on the new Income tax e-filing portal (https://www.incometax.gov.in).

A new facility has been made available for the taxpayer to offer online feedback if they believe the information is erroneous, or pertains to some other person/year, or is duplicate. For the same, the Income Tax Department through a recent Tweet has said that "Types of Feedback: Taxpayers may give feedback on the accuracy of the info displayed, modify information value & also give customized feedback on an info category. Click on link 'AIS' under 'Services' tab on http://incometax.gov.in."

To know more in brief about the new AIS and if want to know how to access it on the e-Filing portal, then please click here.