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...
Annual Information Statement (AIS) – Receipts from transfer of immovable property AIS is the abbreviation form of ‘Annual Information Statement’ which is recently rolled out by the Income Tax Department. Along with ‘Annual Information Statement’, the department also came up with the ‘Taxpayers Information Summary’ i.e., TIS. Notably, if the information reflected in the ‘Annual […]
Annual Information Statement (AIS) – Payment to non-resident sportsmen or sports association under section 115BBA The new Annual Information Statement comprises 50 different information categories. The present article deals with one such information category, namely, ‘Payment to non-resident sportsmen or sports association u/s 115BBA’. Understanding relevant taxing provision covered under section 115BBA and TDS provision […]
Annual Information Statement (AIS) – Interest or dividend or other sums payable to the government With a view to promote transparency and simplify the return filing process, the income tax department, recently, amended Form 26AS. This amended Form 26AS is named as ‘Annual Information Statement’. Along with ‘Annual Information Statement’, the taxpayer will also be […]
Annual Information Statement (AIS) – Income from investment in securitization trust The income tax department of India, recently, announced and made available a new Annual Information Statement on its compliance portal. Various additional information like interest; securities transactions; dividend; mutual fund transaction; foreign remittance etc. will be covered under the Annual Information Statement. Once the […]
Annual Information Statement (AIS)– Income on account of repurchase of units by MF/ UTI ‘Annual Information Statement’ and ‘Taxpayer Information Summary’ are two new tools recently made available by the Income Tax Department to the taxpayers. The main objective of the ‘Annual Information Statement’ is to provide comprehensive tax information to the taxpayer and also […]
A new ‘Annual Information Statement’, revising Form 26AS, is recently rolled out by the income tax department. It mainly provides a comprehensive view of various information to the taxpayer. Secondly, for ease of return filing, a simplified ‘Taxpayer Information Summary’ which shows aggregate value to the taxpayer is also made available. Annual Information Statement allows […]
On 1st November, 2021 Income Tax Department has rolled out the new AIS (Annual Information Statement) on Compliance Portal which provides comprehensive view of financial transaction done by taxpayer (i.e. PAN based transactions) in a Financial Year at one place. This includes information relating to Interest, Dividend, Business receipts, Cash deposits/withdrawals, Sale/ Purchase of Securities […]
Annual Information Statement – Withdrawal of deposits under National Savings Scheme (NSS) Till now, form 26AS being an annual tax statement contained information relating to taxes already paid by the taxpayer like tax deducted/ collected at source; self-assessment tax paid; advance tax paid etc. However, Finance Act 2020 inserted section 285BB to the Income Tax […]
Annual Information Statement and Taxpayers Information Summary are two of the new statements recently introduced by the Income Tax department. The information reflected under the Annual Information Statement is categorized under 50 different information categories. One such information category is ‘Receipts from life insurance policy’ which is taken up and explained in the present article. […]
The taxpayer under Income Tax would by now generally be aware of Form 26AS. But now the taxpayer needs to be aware and educate themselves about the newly introduced ‘Annual Information Statement’. Recently, the Income Tax Department came up with the Annual Information Statement. Simply putting up, the Annual Information Statement can be said to […]
