What Is Annual Information Statement (AIS) And Taxpayer Information Statement (TIS)
The AIS is a comprehensive statement containing details of all the financial transactions undertaken by you in a financial year (FY). It contains the information relating to income earned from various sources such as salary, dividend, interest from savings account, recurring deposits, sale and purchase of equity shares, bonds, mutual funds etc. The statement also contains information related to TDS, TCS.
The TIS is a generation of a Taxpayer Information available in AIS in a simplified format. TIS contains category wise aggregated information summary for a taxpayer. It shows processed value (i.e., value generated after processing of information) and derived value (i.e., value derived after considering the taxpayer feedback and processed value) under each information category (e.g., Salaries, Interest, Dividend etc.).
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OBJECTIVE OF AIS
The objective of AIS is
(i) Provide comprehensive tax information to the taxpayer
(ii) Promote voluntary compliance and enable seamless prefiling of return.
SALIENT FEATURES OF AIS
(i) Inclusion of various detailed information about the taxpayer. (Interest, dividend, securities transactions, mutual fund transactions, foreign remittance information etc.)
(ii) AIS can be download information in PDF, JSON, CSV file formats.
(iii) AIS allows taxpayers to submit feedback about information stated in AIS in both online and offline mode.
(iv) Income tax department will launch AIS Mobile Application to enable taxpayer to view AIS and upload feedback through mobile phone.
(V) The PDF is password protected. The password to access the downloaded PDF is a combination of your PAN in CAPS with date of birth (DDMMYYYY)
CONTENT OF AIS
The taxpayer’s information contained in AIS are divided into two parts
Part A- It contains general information relating to the taxpayer
(i) PAN number,
(ii) Last 4 digits of Aadhaar Number
(iii) Name of the Assessee,
(iv) Date of Birth/ Incorporation/ Formation
(v) mobile number,
(vi) e-mail address
(vii) address of Taxpayer
Part B – It contains tax related information including
- TDS/TCS Information: Information related to information code, information description, information source, count and amount.
- SFT Information: SFT Information received from reporting entities under Specified Financial Transaction (SFT). For example salary, interest, dividend, foreign remittance etc.
- Payment of Taxes: Information relating to payment of taxes from different heads are displayed here. For example, Advance Tax, Self-Assessment Tax paid through challan to Bank.
- Demand and Refund: Details of the demand raised (AY, demand under section, amount and demand status) and refund initiated (AY and amount) to them during a financial year
- Other Information: Any other information as given under sub-rule (2) of rule 114-I.
CONTENT OF TAXPAYER INFORMATION STATEMENT (TIS)
TIS is the lowest level of information displayed in Annual Information Statement (AIS). It is classified into two parts
Part A- It contains general information relating to the taxpayer
(i) PAN number,
(ii) Last 4 digits of Aadhaar Number
(iii) Name of the Assessee,
(iv) Date of Birth/ Incorporation/ Formation
(v) mobile number,
(vi) e-mail address
(vii) address of Taxpayer
Part B – It contains information description, information source amount description, reported value processed value, derived value of various sources (Salary, Dividend Interest from income tax refund, sale of securities and units of mutual fund, Off market credit transactions, Purchase of securities and units of mutual funds).
Procedure to Download AIS or TIS
1. Login to your Income Tax portal
2. Click on Annual Information Services (AIS) under services Tab
3. click on to proceed
4. Download the forms in PDF, JSON or ACF in PDF format
5. the downloaded file will be password protected and the password is PAN in caps and DOB in DDMMYYYY format
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Author- Adv.Shivam Kumar
Legel and content Executive, Taxblock India Pvt. Ltd
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