The Government has recently enlarged the scope of Form 26AS to cover information regarding various transactions made by a person during the year. The CBDT has omitted Rule 31AB, and a new Rule 114-I has been inserted to provide that the authorities will upload the Annual Information Statement (AIS) in Form No. 26AS in the registered account of the assessee.
Such form will consist of the following information:
(a) Information relating to TDS and TCS;
(b) Information relating to Specified Financial Transactions (SFT);
(c) Information relating to the payment of taxes;
(d) Information relating to demand and refund;
(e) Information relating to pending proceedings;
(f) Information relating to completed proceedings; and
(g) Information received from any officer, authority, or body performing any functions under any law or information received under an agreement referred under section 90 or section 90A or information received from any other person to the extent it may be deemed fit in the interest of the revenue.
All such relevant information available in AIS shall be automatically pre-filled in the relevant ITR Form.
Can a taxpayer access the information available in the AIS?
“An assessee can access AIS information by logging into his income-tax e-filing account. If he feels that the information furnished in AIS is incorrect, duplicate or relates to any other person etc., he can submit his feedback thereon,” says Naveen Wadhwa, DGM, Taxmann.
An assessee can access and respond to AIS information from the income-tax e-filing portal. Alternatively, he can also use an offline utility.
How to access AIS online?
The followings are the steps to access the AIS information online:
Step 1: Log in to the Income-tax e-filing website at https://www.incometax.gov.in/
If you are a new user, you will be required to first register on the e-filing portal.
Step 2: After login, click on Services > Annual Information Statement (AIS)
Step 3: A message shall appear that will prompt you to click on ‘proceed’ to redirect to AIS homepage.
Step 4: The next screen provides the instructions relating to the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS). “TIS displays the information available in AIS category-wise. It shows the original and revised values (i.e., value processed after the taxpayer’s feedback). The revised values in TIS are used for pre-filling of return,” says Wadhwa.
Step 5: Click on the next tab of ‘AIS’. On the redirected screen, two tiles appear – Taxpayer Information Summary (TIS) and Annual Information Statement (AIS). Select the relevant financial year from the drop-down and click on AIS tile to view the information.
Step 6: On the next screen, the information available in AIS is displayed in Part A and Part B. Part A contains the general information about a taxpayer (i.e., PAN, Aadhaar, Name, Date of Birth, Mobile Number, E-mail ID, and Address). Part B contains the comprehensive information of a taxpayer for the selected financial year as uploaded by the prescribed income-tax authority. The information in Part B is divided into the following categories:
(a) TDS/TCS Information;
(b) SFT Information;
(c) Payment of Taxes;
(d) Demand and Refund; and
(e) Other Information.
Step 7: The information available in AIS can be downloaded in CSV, JSON, or PDF format. The user will have to download the transactions in CSV format for every category of transaction separately. In contrast, the entire AIS can be downloaded only in PDF or JSON.