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Annual Information Statement: A Comprehensive Guide on AIS, How to Check AIS Status, AIS Password and Feedback
An annual Information Statement refers to a document that provides a summary of the financial and tax-related information of a taxpayer for a specific tax year. Annual Information Statements for individual taxpayers may include the following information:
- Personal information
- Income information
- Deductions and Credits
- Tax payments and Withholdings
- Tax Liability and Refunds
- Other relevant information like tax rates, tax brackets, tax credits, or any significant changes in tax laws that may impact the taxpayer.
What is an Annual Information Statement?
The Annual Information Statement (AIS) is a comprehensive overview of taxpayer information on Form 26AS. In addition to Form 26AS, AIS also includes securities transactions, interest, dividends, overseas remittance information, bank transaction, credit card transaction, mutual fund transactions and demands/refunds. Taxpayers can provide feedback on the information displayed on the AIS. Under each section (i.e., TDS, SFT, Other information), AIS displays both the reported value and the derived value (i.e., the value after considering taxpayer feedback). 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 and avoiding underreporting of income.
- Deter non-compliance
- In case there are errors, it also accepts feedback from the taxpayers on the information displayed in AIS.
What are the features of the Annual Information Statement, AIS?
- It includes new data such as interest, dividends, securities transactions, mutual fund transactions, international remittance data, etc.
- 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 and download data in PDF, JSON, and CSV forms.
- The AIS Utility will allow taxpayers to view AIS and provide feedback.
- The AIS Mobile App allows taxpayers to view AIS and provide feedback on their handheld devices.
What are the Different Types of Information Shown in AIS?
The information displayed on AIS is split into two sections:
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.
TDS/TCS Information: - This section displays information about tax deducted/collected at the source. The TDS/TCS Information code, category, source of such information, description, and value are displayed.
SFT Information: - Information received from reporting entities under the Statement of Financial Transaction (SFT) is displayed under this heading. Obtaining the SFT code, Information description, and Information value is possible.
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.
How to check Annual Information status (AIS)?
Here are the steps to check AIS:
- Visit the official website (https://eportal.incometax.gov.in/iec/foservices/#/login) of the Income Tax Department of India.
- Log in to your account by entering your User ID and Password.
- Once you have logged in, click on the "services " option from the main menu.
- Select the "AIS (Annual Information Services) " option from the dropdown menu. It will redirect you to the compliance portal; click proceed for visiting the compliance portal.
- Choose the relevant assessment year for which you want to check the AIS.
- You can open AIS by clicking on the AIS option on the compliance portal page. Also, there you can see 2 options, one is download, and the other is upload AIS feedback file.
- If the AIS is available, it will be displayed on the screen. You can download and print the document for future reference. AIS can be downloaded in PDF and JSON formats.
If the AIS is unavailable, you can contact the Income Tax Department's customer care service for further assistance.
How to open the downloaded AIS PDF?
If you download the PDF file, it is password protected. To unlock the AIS PDF file, follow these steps:
- Open the AIS PDF file on your computer.
- When prompted to enter the password, type your Permanent Account Number (PAN) in lowercase letters.
- Then, type your date of birth or date of incorporation/formation in the format DDMMYYYY without any spaces.
- For example, if your PAN is AAAAA1234A and your date of birth is 28th July 1997, the password will be aaaaa1234a28071997.
- After entering the correct password, you can view and print the AIS PDF file.
If you encounter any issues or errors while unlocking the AIS PDF file, you can contact the Income Tax Department's customer care service for further assistance.
You can learn more about AIS by the provided FAQ by the IT department.
What is the difference between the AIS and Form 26AS?
Form 26AS mostly shows the information of TDS/TCS transactions made throughout the fiscal year.
A far more extensive statement is the Annual Information Statement (AIS). It covers savings account interest, securities/immovable property purchase and sale transactions, overseas remittances, deposit interest, etc. All of the data is available in aggregate and individually for each transaction.
TDS/TCS transactions, SFT information, tax payment,GST information, demand or refund, and other information are all covered by AIS.
Step-by-step Guide for Accessing AIS and TIS 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.
Step 3: Enter user ID, i.e., PAN No, and click on “Continue”
Step 4: Enter your password and click on “Continue” to navigate to the e-filing portal homepage
Step 5: Click on the AIS tab under the service section
Step 6: On the AIS home page, you will see the two different parts
Display of Information Reported Under TDS & SFT
Information under TDS
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 Duplication: 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 deduplicating 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., the 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).
How to submit feedback in AIS?
The taxpayer will have access to AIS data and be able to provide the following types of responses in response to it.
- Information is correct
- Receipt is not taxable
- Receipt is like reimbursement of expenses
- Receipt like refundable security
The taxpayer can provide feedback in both online as well as offline modes. In online mode, you can submit the feedback only in the AIS section. Here’s how to submit feedback -
- Go to the AIS tab. You will find different sections like TDS/TCS information, SFT information, and payment of taxes.
- Then, select the feedback type. The modified value is used to update the derived value in the TIS(taxpayer information summary).
- The derived value is then used to prefill the taxpayer’s ITR form.
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 highlighted for further investigation.
Launch of AIS app by IT department: How is it convenient for taxpayers?
Recently, for taxpayers' convenience, the Income Tax department has launched the Annual Information Statement (AIS) mobile app called “AIS for Taxpayer,” which allows taxpayers to easily access their tax-related information on the Annual Information statement on their mobile phones. The app provides a simple and user-friendly platform named the "AIS for Taxpayer" app. This app is free of cost and can be downloaded from the google play store and the apple app store.
The app details various financial transactions such as TDS (Tax Deducted at Source), TCS (Tax Collected at Source), interest, dividends, share transactions, tax payments, income tax refunds, and foreign remittances.
This app allows taxpayers to easily track and monitor financial transactions so that they can calculate their tax liability and ensure compliance with tax regulations. Additionally, the app allows users to provide feedback regarding the information displayed. The app makes it convenient for taxpayers to access their financial information on the go, anytime and anywhere.
To register and set MPIN for AIS for Taxpayer App on mobile, please follow these steps:
- Download the AIS for Taxpayers App from the app store on your mobile device.
- An Onboarding screen will pear where you can tab and select “Get Started”.
- Enter your PAN number and Date of Birth, and select your preferred login ID.
- Next, you will be prompted to enter your PAN and the date of your birth/incorporation/formation; check the box next to the terms and conditions.
- Now enter your mobile number and email ID.
- Separate OTPs will be shared on the primary mobile number and email address. Enter the OTPs received and click “Verify”.
- Now the “MPIN” page will open, where you need to enter a 4-digit MPIN and select Next.
- Confirm the MPIN by re-entering it in the next field.
- Click on the "Submit" button.
- Once MPIN is successfully set up, the user is registered and can log in using the MPIN.
Please Note:- The user will only have five attempts to input the MPIN correctly. If the user cannot enter the right MPIN after the number of attempts allowed, the user account will be locked for 24 hours. Hence, if you forget the MPIn password, you can use forgot MPIN to reset the MPIN.
Hope you found this article helpful and understood how you can access your AIS/TIS. Despite everything managing taxes can be a daunting task, especially for someone who doesn’t have any knowledge about it. But don’t worry! We at Tax2win have the perfect solution for your problems. If you are someone who understands a little about taxes, then you can file your ITR on your own. And if you are among those who break out in a cold sweat just hearing about taxes, then the best way out is to take help from an experienced Chartered Accountant.
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Frequently Asked Questions
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 need help viewing 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 the tooltip-style window.
Please remember that the bulb indicator beneath the information will only appear on hover if the page element's information description is available.
Q- How to submit feedback in AIS?
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 the Acknowledgement Receipt, and the activity history tab will also be updated. 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 and 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- How does feedback change affect 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.