What is the Objective of AIS?

The objectives of AIS are to:

  • Provide complete information to taxpayers, including the ability to provide online feedback.
  • Encourage voluntary compliance by allowing for seamless prefilling of returns
  • Deter noncompliance.

What are the Salient Features of the Annual Information Statement?

A transaction which fulfill the following conditions :

  • New data (interest, dividends, securities transactions, mutual fund transactions, international remittance data, etc.) has been included.
  • Use of Data Analytics to populate PAN in non-PAN data so that it can be included in AIS.
  • Information duplication is eliminated, and a streamlined Taxpayer Information Summary (TIS) is generated for easier return filing (pre-filling will be enabled in a phased manner).
  • Taxpayers will be able to provide online feedback on the information provided in AIS, as well as download data in PDF, JSON, and CSV forms.
  • The AIS Utility will allow taxpayers to view AIS and provide feedback when offline.
  • The AIS Mobile App will allow taxpayers to view AIS and provide feedback on their handheld devices.

Annual Information Statement

What are the Different Parts of AIS?

The information displayed on AIS is split into two sections:

  • Part- A
    Part-A contains general information about you, such as your PAN, Masked Aadhar Number, Name of the Taxpayer, Date of Birth/Incorporation/Formation, mobile number, e-mail address, and Taxpayer's address.
  • PART- B
    TDS/TCS Information: - This section displays information about tax deducted/collected at the source. The TDS/TCS Information code, Information description, and Information value are displayed.
  • SFT Information: - Information received from reporting entities under the Statement of Financial Transaction (SFT) is displayed under this heading. It is possible to obtain the SFT code, Information description, and Information value.
  • Tax Payments: - This section displays information about tax payments under several headings, such as Advance Tax and Self-Assessment Tax.
  • Demand and Refund: - During a financial year, you will be able to see the specifics of the demand made and the refund initiated (AY and amount).
  • Other Information: - This section displays details on information obtained from other sources, such as data on Annexure-II salary, interest on refunds, outward foreign remittances/purchases of foreign currency, and so on.

Different Parts of AIS

Step-by-step Guide for Accessing AIS through e-Filing Portal

Taxpayers can access their AIS by going to the e-filing portal and logging in with their PAN or Aadhaar number:

  • Step 1: Use the URL https://www.incometax.gov.in/ to access the e-filing system.
  • Step 2: Click the "Login" button in the top-right corner of the webpage.

    e-filing system

  • Step 3: Enter user ID and click on “Continue”

    Enter user ID

  • Step 4: Enter your password and click on “Continue” to navigate to the e-filing portal homepage

    e-filing portal homepage

  • Step 5: Click on the AIS tab under the service section

    AIS tab under the service section

  • Step 6: On the AIS home page you will see the two different parts

    AIS home page you will see the two different parts

Display of Information Reported Under TDS & SFT

Information under TDS
Information under TDS

Information under SFT
Information under SFT

AIS Preparation Steps

The following are some important steps in the information processing process:

  • PAN Population: If the given information does not have a valid PAN, the PAN will be populated based on matching Aadhaar and other essential parameters.
  • Information Display: In most cases, the reported information is shown next to the PAN holder. The information display logic for specific information such as property, bank account, Demat account, etc., intends to display information to relevant PAN holders for evaluation and feedback.
  • Information Deduplication: When the same information is reported under different information types (for example, interest/dividend reporting in SFT and TDS), the information with the lesser value is tagged as "Information is duplicate / included in other information" by automatic rules.
  • Preparation of the Taxpayer Information Summary (TIS): After deduplication of information based on pre-defined rules, a taxpayer's aggregated information summary is created by information category. Under each information category, it displays the processed value (i.e. value obtained after deduplication of data based on pre-defined rules) and derived value (i.e. value derived by considering taxpayer feedback and processed value).

AIS Feedback

The taxpayer will have access to AIS data and will be able to provide the following types of responses in response to it.

  • Information is correct
  • Information is not fully correct
  • Information relates to other PAN/Year
  • Information is duplicate / included in other information
  • Information is denied
  • Customized Feedback

Processing of AIS Feedback

The AIS processing approach is as follows:

  • The assessee's feedback will be recorded in the Annual Information Statement (AIS), and the reported value and modified value (i.e. the value following feedback) will be displayed separately.
  • The assessee's input will be used to update the derived value (the value calculated after taking into account the taxpayer's feedback) in the Taxpayer Information Summary (TIS)
  • Information in AIS assigned to other PAN/Years will be processed and shown in the taxpayer's AIS using automatic rules.
  • If the assigned information is changed or refused, the feedback will be assessed according to risk management guidelines, with high-risk feedback being highlighted for further investigation.

Some Frequently Asked Questions on AIS

Q- How can I view the Annual Information Statement for a specific Financial Year (FY)?

The functionality of the Annual Information Statement can be accessed by following the steps outlined below:

  • Step 1: Go to https://www.incometax.gov.in/ and log in to your account.
  • Step 2: After successfully logging in to the e-filing system, click on "Annual Information Statement (AIS)" under the "Services" tab.
  • Step 3: On the site, click the AIS tab.
  • Step 4: To access the Annual Information Statement, select the relevant FY and click on the AIS tile.

Please see the Annual Information Statement User Guide in the "Resources" section of the AIS Homepage for further information.

Q- I cannot view the information in some source information in AIS, what could be the problem?

If the information history in a certain AIS source information exceeds the specified size (currently 1500 records), it may not be fully visible in the portal. If you are viewing AIS (with full details) please download the AIS PDF / JSON file from the download option in the AIS tiles.

Q- I'm having trouble understanding the information in my AIS?

If you're having trouble comprehending what's being displayed in the AIS, you can enable context-specific help by following the instructions below:

  • Step 1: To activate context-specific help, click the bulb icon in the top right corner of the gateway panels.
  • Step 2: Hover the mouse pointer over the information you're having trouble seeing to see the bulb icon.
  • Step 3: To examine the tooltip style information description and related guidance, click the bulb symbol next to the information.
  • Step 4: Within the associated guide, click on keywords to get information descriptions and related guides for that term.
  • Step 5: To close the information description, click anywhere outside of the tooltip style window.

Please keep in mind that the bulb indicator beneath information will only appear on hover if the page element's information description is available.

Q- What is the AIS Consolidated Feedback file?

You can obtain the AIS aggregated feedback file after contributing comments on the Annual Information Statement (AIS) (PDF). It will allow taxpayers to examine all of their AIS input (except feedback that states, "Information is correct") in one document for easier comprehension.

Q- How do I submit feedback on the information?

Follow the steps below to provide feedback on active information presented under TDS/TCS Information, SFT Information, or Other Information:

  • Step 1: Click the "Optional" button in the Feedback column. You'll be sent to the 'Add Feedback' screen.
  • Step 2: Select the appropriate feedback option and provide the necessary information (depending on the feedback option).
  • Step 3: Click "Submit."

Please see the Annual Information Statement User Guide in the Compliance Portal's "Resources" section for more information (AIS Homepage).

Q- What will happen after I submit the feedback?

After successfully submitting feedback on AIS information, the feedback will be presented alongside the information, and the information's changed value will be visible alongside the reported value. You'll be able to download Acknowledgement Receipt and the activity history tab will be updated as well. In addition, feedback submission confirmations will be delivered via email and SMS.

Q- How can I modify the AIS feedback?

Once you've submitted your feedback, you can make changes to any active information listed under TDS/TCS Information, SFT Information, or Other Information by following the procedures below:

  • Step 1: Go to the AIS details page and look at the aggregated information by source.
  • Step 2: To access information/transaction details, expand specific L2 level information and click on the information that has previously been given feedback and needs to be changed
  • Step 3: You will be taken to the Feedback History screen, which will display the previously submitted feedback. Select "Modify Feedback" from the drop-down menu.
  • Step 4: Select the cause for the change, as well as mention additional comments that are required.
  • Step 5: Click the "Submit" button after selecting the feedback choice.

Now, to get the Feedback Acknowledgement Receipt, go to "Activity History."

Q- What effect does feedback change have on the AIS value, and where can I find my updated feedback?

When you browse the Feedback History of the transaction after making changes to your feedback, the amended feedback will be designated as "Active." The impact of the same will be shown on AIS in both aggregated information source details and information/transaction specifics. TIS will also be updated as a result of the feedback modification.

CA Abhishek Soni
CA Abhishek Soni

Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2Win.in. Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.