The Annual Information Statement (AIS) or Taxpayer Information Summary can be viewed by taxpayers through a mobile application called "AIS for Taxpayer," which the Income Tax Department released on March 22. The app has become essential and beneficial since starting from the new financial year on April 1, Form 26AS will only show information related to tax deducted at source (TDS) and tax collection at source (TCS).

 

 

Taxpayers need to refer to the AIS for various details, including installments of advance tax paid, self-assessment tax, income-tax refund, Statement of Financial Transactions (SFT), and turnover as per Goods and Service Tax (GST) return, among other things.

 

Taxpayers can get a detailed summary of their information from Form 26AS by referring to the Annual Information Statement (AIS). The AIS not only provides a comprehensive overview of the taxpayer’s information, but it also has a feedback mechanism.

 

Each section of the AIS includes reported and modified values based on the feedback received from taxpayers. The objectives of the AIS are to provide taxpayers with complete information and an opportunity to give online feedback, promote voluntary compliance, and enable easy prefilling of tax returns.