Categories: Economy

Taxpayers can now access Annual Information Statement on e-filing portal

<p>
The Income Tax Department on Sunday said taxpayers can now access the new Annual Information Statement (AIS), which includes additional categories of information like interest, dividends, securities and MF transactions, and remittances from abroad, on the e-filing portal.</p>
<p>
The I-T department had last month expanded the list of high-value financial transactions, which would be available to taxpayers in their Form 26AS by including details of mutual fund (MF) purchases, foreign remittances.</p>
<p>
Form 26AS is an annual consolidated tax statement that can be accessed from the income-tax website by taxpayers using their Permanent Account Number (PAN).</p>
<p>
"AIS provides ease of access! It can be accessed now on the e-filing portal & downloaded easily in downloadable formats of PDF, CSV & JSON (machine-readable format). Click on link 'AIS' under 'Services' tab on http://incometax.gov.in," the I-T department tweeted.</p>
<p>
<strong>Also read:</strong>  <a href="https://www.indianarrative.com/economy-news/income-tax-dept-launches-new-e-filing-portal-93297.html">Income Tax Dept. launches new e-filing portal</a></p>
<p>
AIS enables a taxpayer to see and verify taxpayer info available with taxmen, provide feedback in case of discrepancies, view/update the Taxpayer Information Summary (TIS) used for pre-filling of ITR.</p>
<p>
The Budget 2020-21 had introduced a new Section 285BB in the Income Tax Act, to revamp Form 26AS to an 'Annual Information Statement' which apart from the TDS/ TCS details, would contain comprehensive information relating to specified financial transactions, payment of taxes, demand/ refund and pending/completed proceedings undertaken by a taxpayer in a particular financial year that has to be mentioned in the income tax returns.</p>
<p>
Following that, in May last year, the I-T department had notified the revised Form 26AS, including information on high-value financial transactions undertaken during a financial year, a move which also facilitated voluntary compliance and ease of e-filing of I-T returns.</p>

IN Bureau

Recent Posts

Baloch Yakjehti Committee releases documentary to honour Karima Baloch’s legacy

On the 4th death anniversary of human rights activist Karima Baloch, the Baloch Yakjehti Committee…

3 minutes ago

EAM Jaishankar to visit US from December 24-29

External Affairs Minister S Jaishankar will visit the US from December 24-29 to discuss key…

46 minutes ago

Balochistan: Medical students protest campus closure, security crackdown

Students at the Bolan Medical College (BMC) in Balochistan's Quetta entered the 27th day of…

2 hours ago

Climate change, health risks escalate amid surge in PoGB deforestation

The intensifying cutting of trees for firewood in Pakistan-occupied Gilgit-Baltistan (PoGB) is not only worsening…

3 hours ago

India’s retired judges, bureaucrats call for “immediate end” to attacks on minorities in open letter to Bangladesh

A group of retired judges, bureaucrats, Army officials and other civil society members have penned…

3 hours ago

Israel, Slovakia sign historic USD 582 million deal to boost Air Defense capabilities

Israel and Slovakia signed a 2 billion shekel (USD 582 million) agreement on Monday to…

4 hours ago