Income Tax : Learn about the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS). Find out how to access them and what in...
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 : 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...
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. […]
Merging information from different sources like TDS; SFT; etc., the Government has recently developed a new comprehensive statement known as ‘Annual Information Statement’. Along with the ‘Annual Information Statement’, a summarized view of the information is made available to the taxpayer in a statement known as ‘Taxpayers Information Summary’. The present article deals with one […]
With a view to widen up the tax base and boost up the tax collection, over the last few years, the Government is continuously expanding the scope of the information collected by revenue authorities from various different sources vis-à-vis the income being earned by the taxpayers. Taking a step ahead towards the above pointed goal, […]
The Income Tax Department has recently come up with the new ‘Annual Information Statement’. By providing a comprehensive view of all the financial transactions of the taxpayer, ‘Annual Information Statement’ aims to make the income tax return filing quite easy. Out of various information categories covered under ‘Annual Information Statement’, in the present article, we […]
Various expenditure is claimed and treated as ‘Business expenses’. However, at present, the information category ‘Business expenses’ as covered under ‘Annual Information Statement’ takes into consideration information from the following sources-
The new ‘Annual Information Statement’ is now made available to the taxpayer on the Income Tax portal for the Financial Year 2020-2021. The taxpayer engaged in carrying on business or profession needs to thoroughly understand the information category ‘Business receipts’ covered under ‘Annual Information Statement’. The present article explains one of the important information categories […]
‘Annual Information Statement’ enables the taxpayer to view and verify the information available with the Income Tax Department; in case of discrepancies, provide feedback and also view as well as update the ‘Taxpayer Information Summary’ which is used for pre-filing the Income Tax Return. “Off market credit transactions’ is one of the information categories covered […]
As we know, income tax return (ITR) for the Financial Year 2020-2021 (i.e., Assessment Year 2021-2022) is to be filed by 31st December 2021. Prior to the filing of income tax returns, importantly, the taxpayer is required to educate themselves about the newly introduced ‘Annual Information Statement’. ‘Annual Information Statement’ covers all the financial information […]
‘Sale of Securities and units of mutual fund’ is one of the information categories covered under ‘Annual Information Statement’ (AIS). Said information category is briefly explained in the current article.
