In order to promote transparency and simplifying the tax return filing process, CBDT vide Notification dated May 28, 2020 has amended Form 26AS vide Sec 285BB of Income Tax Act, 1961 r.w.r.114-I of Income Tax Rules, 1962 w.e.f. 01.06.2020. The new Form 26AS is an Annual Information Statement or AIS which will provide a complete profile of the taxpayer for a particular year.
Income Tax Department has rolled out the new Annual Information Statement (AIS) on the Compliance Portal which provides a comprehensive view of information to a taxpayer with a facility to capture online feedback. The display of Form 26AS on TRACES portal will also continue in parallel till the new AIS is validated and completely operational.
If the taxpayer finds any discrepancy in the information captured in the AIS, they can submit online feedback. In addition to online feedback, the taxpayers can also use the AIS utility to submit feedback online.
Information provided in AIS
Part A: General Information
- Permanent Account Number (PAN)
- Aadhaar Number
- Date of Birth
- Mobile Number
- E-mail Address
Part B:
- TDS/ TCS Information
- Information relating to specified financial transaction (SFT)
- Payment of Taxes
- Demand and Refund
- Any other information in relation to sub-rule (2) of rule 114-I
How to download the Annual Information Statement (AIS)
- Log into the e-filing portal using your PAN or Aadhaar and your password.
- Go to the ‘Services’ section at the top and click on ‘Annual Information Statement (AIS)’.
- Then, click on ‘Proceed’.
- Now, click on the download button in the AIS tab.
- Select either the PDF or the JSON option and click on ‘Download’.
- Click on the PDF and enter the password.
- The password will be your PAN + your date of birth.
Once you have entered your password, you can view all the details in your AIS. You can also upload an updated AIS using the same method.
The transactions under Statement Transactions (SFT) Code which will get captured in AIS include—
| Sr. No | Nature of Transaction | Threshold |
| 1. | Cash Payment or issuance of DD or Pay orders or any other Bank instruments | In excess of Rs.10 Lacs in a F.Y. |
| 2. | Purchase of pre-paid instruments in cash | Payment in cash aggregating to 10 lacs or more |
| 3. | Cash deposit/ withdrawal in current account | aggregating to 50 lacs or more |
| 4. | Cash deposit in one or more accounts other than current account and time deposit | aggregating to 10 lacs or more |
| 5. | Payment for credit card | aggregating to 10 lacs or more |
| 6. | Payment for credit card | Made by any person of an amount aggregating to 1 lac or more in cash or 10 lacs or more by any other mode |
| 7. | Purchase of debentures | aggregating to 10 lacs or more |
| 8. | Purchase of shares (including share application money) | aggregating to 10 lacs or more |
| 9. | Buy back of shares | aggregating to 10 lacs or more |
| 10. | Purchase of mutual fund units | aggregating to 10 lacs or more |
| 11. | Purchase of foreign currency | aggregating to 10 lacs or more |
| 12. | Purchase or sale of immovable property | 30 Lacs (individual transaction) |
| 13. | Cash payment for goods and services | 2 Lacs (individual transaction) |
| 14. | Cash deposits during specified period (9th Nov to 31st Dec, 2016) | (a) Rs. 12.5 Lacs or more in one or more current account of a person, or
(b) Rs. 2.5 lacs or more in one or more account other than current account of a person |
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