Now taxpayers will be able to get new Annual Information Statement on the e-filing portal as well.

Income Tax of India : The Income Tax Department has said that taxpayers can now obtain the new Annual Information Statement on the e-filing portal for filing returns electronically. It will also include information such as interest, dividend, securities and mutual fund transactions and remittances abroad.

The Income Tax Department had only last month expanded the list of high value financial transactions, which will be available to taxpayers in their Form 26AS. This will include information such as mutual fund (MF) purchases, remittances abroad. Form 26AS, also known as Tax Passbook, can be obtained from the Income Tax website by a taxpayer using his Permanent Account Number (PAN).

The Income Tax Department tweeted, AIS gives ease of access (to information). It can now be accessed on the e-filing portal and downloaded in PDF, CSV and JSON.

Taxpayers will also be able to give feedback, CBDT has started new system

It is worth noting that now taxpayers will also be able to give feedback to income tax. Recently, the Income Tax Department released a new annual information statement (AIS) on its portal. It provides an option to respond with comprehensive information of the taxpayer. The new AIS includes additional information related to interest, dividends, securities transactions, mutual fund transactions and remittances abroad. According to the ministry, until the new AIS is fully operational, Form 26AS will be available on the TRSCS portal. The new AIS also provides a simplified Taxpayer Information Summary (TIS). This simplifies things in filing returns.

According to the CBDT, taxpayers have to keep in mind that the annual information statement includes the information currently available with the Income Tax Department. If there are some other transactions of the taxpayers which are not present in the annual information statement, then the taxpayers should check all the relevant information and provide complete and accurate information in the income tax return.

According to the tax department, taxpayers can refer to the information shown in the Annual Information Statement (AIS) and give your feedback if the information needs to be amended. Values ​​given in Taxpayer Information Summary (TIS) can be considered while filing ITR. If ITR has already been filed and some information has not been included in ITR, then the return can be modified to give correct information.

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