Income Tax : The Income-tax Department is increasingly relying on AI-based verification and automated reconciliation systems to detect discrepa...
Income Tax : The framework requires taxpayers to withdraw all pending appeals and proceedings. It establishes that dispute resolution is condit...
Income Tax : The article explains how AIS-based data matching is triggering tax notices despite Form 26AS matching. The key takeaway is that AI...
Income Tax : The issue highlights how mismatches between AIS/26AS and ITR disclosures can invite scrutiny. Key takeaway: reconcile and justify ...
Income Tax : AIS provides taxpayers with consolidated financial and tax information for accurate return filing. It includes TDS, SFT, GST data,...
Income Tax : CBDT's electronic campaign helps taxpayers fix mismatches in income and transactions for FY 2023-24 and 2021-22. Revised ITRs can ...
Income Tax : ICAI addresses issues with Form 26AS/TIS/AIS and ITR filing glitches, urging CBDT for timely resolution to aid taxpayers in meetin...
Income Tax : CBDT, has introduced a new feature in Annual Information Statement (AIS) accessible via compliance portal on Income Tax Department...
Income Tax : Directorate of Income Tax (Systems) Annual Information Statement (AIS) Handbook Version 2.0 (March 2022) Document Version Control ...
Income Tax : This article answer FAQs on Annual Information Statement (AIS), Taxpayer Information Summary (TIS), Accessing AIS on Portal, Viewi...
Income Tax : The Tribunal held that advances received under an uncompleted sale agreement are not taxable. Income arises only when transfer or ...
Service Tax : CESTAT Allahabad quashes Service Tax demand against a contractor, ruling that reliance solely on unverified ITR and Form 26AS data...
User can view Annual Information Statement (all parts and information) by importing the downloaded (AIS) – JSON file and can prepare the feedback through AIS Utility as well in offline mode. The purpose of this document is to provide a comprehensive understanding of the Annual Information Statement (AIS) Utility available at Compliance Portal (AIS Homepage). […]
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 […]
A summary guide on AIS (Annual Information Statement). Must read before filing any ITR Annual Information Statement (AIS) Q.1 What is AIS? It’s a detailed statement containing your financial details / transactions. Q.2 Is it same as 26AS? No, it’s not same. 26AS is a summary of some of the financial details / transactions. But […]
Directorate of Income Tax (Systems) has released Handbook on Annual Information Statement (AIS). This will explain How the new Form 26AS (Annual Information Statement or AIS) will provide a complete profile of the taxpayer for a particular year. Part A of the new Form 26A will contain Permanent Account Number, Aadhaar Number, Name, Date of […]
Annual Information Statement (AIS) is a comprehensive view of information for a taxpayer displayed in Form 26AS. Taxpayer Information Summary (TIS) is an information category wise information summary for a taxpayer.
Roll out of new Annual Information Statement (AIS) 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 new AIS can be accessed by clicking on the link “Annual Information Statement […]
