Income Tax : Learn key considerations when preparing tax returns from AIS/TIS. Ensure compliance by reporting all income, including transaction...
Income Tax : CBDT has notified 57 types of incomes and expenses included in the Annual Information Statement (AIS) on the Income Tax portal, ai...
Income Tax : Discover the importance of the Annual Information Statement (AIS) for accurate Income Tax Returns and how new real-time feedback f...
Income Tax : Let’s compare and contrast the Annual Information Statement (AIS), Taxpayer Information Summary (TIS), and Form 26AS with th...
Income Tax : Significance of Annual Information Statement (AIS) under Section 285BB of Income-tax Act. Learn what information it covers, how to...
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 : Taxpayer Information Summary (TIS) is an information category wise information summary for a taxpayer. The same is updated based o...
The new ‘Annual Information Statement’ shows/ reflects the complete picture of the financial details, of the taxpayer, which are available with the income tax department from different sources. ‘Annual Information Statement’ covers wider details as compared to Form 26AS. Notably, once the ‘Annual Information Statement’ is completely operational and validated, the same will replace the […]
‘Annual Information Statement’ is a comprehensive statement covering details of all the financial transactions undertaken by the taxpayer in a particular Financial Year. On the other hand, ‘Taxpayers Information Summary’ is a simplified/ summarized statement covering all the details as briefed under ‘Annual Information Statement’. Due to the new introduction, it is necessary to understand […]
Owing to the new introduction, it is important to understand each and every information category of the ‘Annual Information Statement’. The present article highlights the information category ‘purchase of securities and units of mutual funds’ as covered under ‘Annual Information Statement’. Information source for the information category ‘Purchase of securities and units of mutual funds’ […]
‘Annual Information Statement’ and ‘Taxpayers Information Summary’ are the two new statements, recently, introduced by the Income Tax Department. ‘Annual Information Statement’ is a detailed statement covering all the particulars of the financial transactions carried out by the taxpayer in a Financial Year. Whereas, ‘Taxpayers Information Summary’ is a summarized statement covering a summary of […]
‘Annual Information Statement’ relies on the modern technology tools to collect PAN based financial data/ details from various sources. On the basis of the ‘Annual Information Statement’, the taxpayer can easily estimate their income and taxes thereon. It also supports the taxpayer in complying with their tax filing obligations. The current article briefs one of […]
In simple terms, the ‘Annual Information Statement’ is a comprehensive statement covering details of all the financial transactions undertaken by the taxpayer in the Financial Year. Whereas, ‘Taxpayers Information Summary’ is a summarized form of the said financial details. In the present article, we will look at one of the information categories covered under ‘Annual […]
The present article covers the information category ‘Receipt of foreign remittance’ covered under the ‘Annual Information Statement’. Information source for information category ‘Receipt of foreign remittance’ under ‘Annual Information Statement’- As per provisions of rule 37BB, the authorized dealer is required to furnish information relating to foreign remittances made by remitter PAN in Form 15CC. […]
‘Annual Information Statement’ for every taxpayer is prepared based on the information collected from various sources. For the information category ‘Outward foreign remittance/ purchase of foreign currency’, ‘Annual Information Statement’ will majorly collect information from Form 15CC. The said information category is briefly explained in the present article. Various information sources for the information category […]
The income tax department has recently rolled out a new ‘Annual Information Statement’ on the income tax portal. The statement provides a comprehensive view of the information to the taxpayer on their financial transactions. Notably, ‘Annual Information Statement’ is a much detailed statement that includes details like mutual fund transactions, interests, shares etc. The current […]
The Income Tax department grabs various information/ details about the income received and material transactions undertaken by the individual in the respective Financial Year from various sources. A compiled and comprehensive version of the same is now available in the form of an ‘Annual Information Statement’. ‘Annual Information Statement’ covers information in 50 different categories. […]
