The Income Tax Department has clarified the purpose, contents, and access to the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS). The FAQs explain how taxpayers can verify financial information and submit feedback to ensure accurate income tax return filing.

The Income Tax Department has issued comprehensive FAQs explaining what constitutes a benami property and benami transaction under the PBPT Act. The guidance also details confiscation procedures, prosecution, statutory exceptions, and appeal mechanisms.

The Income Tax Department explains how CPC processes returns under Section 143(1) by correcting apparent errors and incorrect claims without conducting a scrutiny assessment. Taxpayers receive an opportunity to respond before adjustments are finalized.

This guide explains why companies must file Form DPT-3 not only for deposits but also for outstanding transactions excluded from the definition of deposits. It highlights the reporting requirements, applicability, and key compliance obligations.

The Income Tax Department explains how the e-Verification Scheme addresses mismatches between reported financial transactions and income tax returns through online verification and Section 133(6) notices. It also highlights taxpayers options to submit explanations or file updated returns to avoid further assessment proceedings