Stepwise process to download the new Annual Information Statement (AIS) on the income tax portal

Introduction:

The Annual Information Statement (AIS) is newly introduced by the Income Tax Department as a new version of the 26 AS. It is a comprehensive view of information for a taxpayer displayed in Form 26AS. Taxpayer can provide feedback on information displayed in AIS. AIS shows both reported value and modified value (i.e. value after considering taxpayer feedback) under each section (i.e. TDS, SFT, Other information). The functionalities under AIS Tab are:

• View Annual Information Statement
• Submit Feedback on AIS
• Upload AIS feedback packet generated from AIS utility
• Download Annual Information Statement (PDF/ JSON)
• Download Specific Information Details (CSV)
• Download AIS Consolidated Feedback (PDF)
• Download AIS Feedback Acknowledgement (PDF)
• Download AIS Feedback Tracker (PDF)

The new AIS includes additional information relating to interest, dividend, securities and mutual fund transactions, foreign remittance etc. The reported information has been processed to remove duplicate information. Taxpayers may submit online feedback if info found to be incorrect. It is a simplified taxpayer information summary (TIS), showing the aggregated value to help the taxpayer in filing the income tax return (ITR). An assessee can access AIS information by logging to his income-tax e-filing account. If he feels that the information furnished in AIS is incorrect, duplicate or relates to any other person etc., he can submit his feedback thereon.

Step 1: Visit the https://www.incometax.gov.in/iec/foportal

Step 2: Login with User Id & Password

Step 3: Go to services and click on Annual Information Statement (AIS)

Step 4: A pop up will reflect on your screen – Click on Proceed

Step 5: Once you click on proceed it will redirect you to the AIS homepage, the first screen will reflect the key instructions. Read the instruction carefully and click on the next tab AIS.

Step 6: Click on the AIS Tab. This tab is divided into two parts viz,

a. The Taxpayers Information Summary (TIS)

b. Annual Information Statement (AIS)

Select the relevant tab and financial year

Step 7: The AIS is further divided into two parts

a. Part A- General Information

b. Part B- Part B further is classified into 5 parts

i) Part B1-Information relating to tax deducted or collected at source

ii) Part B2-Information relating to specified financial transaction (SFT)

iii) Part B3- Information relating to payment of taxes

iv) Part B4-Information relating to demand and refund

v) Part B7-Any other information in relation to sub-rule (2) of rule 114-I

Step 8: You can also download the AIS by clicking on the download tab. The downloading provision is divided into 3 categories,

1. Annual Information Statement (AIS) – PDF
2. Annual Information Statement (AIS) – JSON (for AIS Utility)- To use this JSON, download the AIS Utility from the Resources section.
3. AIS Consolidated Feedback (ACF) – PDF

Step 9: You can also check and download the recent activities from the Activity History. It reflects the latest Activity List.

Following are some terms used under AIS for reference:

1. Reported Value: It refers to information value as reported by the information source against a PAN.

2. Modified Value: refers to value which has been modified by the taxpayer by submitting feedback. In the Annual Information Statement (AIS), the modified value (value after feedback) will be shown separately in brackets along with the reported value.

3. Taxpayers Information Summary -TIS is an information category wise aggregated information summary for a taxpayer. It shows processed value (i.e. value generated after deduplication of information based on pre-defined rules) and derived value (i.e. value derived after considering the taxpayer feedback and processed value) under each information category (e.g. Salaries, Interest, Dividend etc.). The derived information in TIS will be used for prefilling of Return If the information is assigned to other PAN/Year, the modified value in Annual Information Statement (AIS) is saved after reducing the assigned amount. The derived value (i.e. value derived after considering the taxpayer feedback) in Taxpayer Information Summary (TIS) will also be reduced to enable seamless pre-filling. The assigned information will be shown in the AIS of other taxpayer/year using automated rules. In case the assigned information is modified/denied, it will be processed in accordance with the risk management system.

4. Feedback- The feedback provided by assessee will be captured in the Annual Information Statement (AIS) and reported value and modified value (i.e. value after feedback) will be shown separately. The feedback provided by assessee will be considered to update the derived value (value derived after considering the taxpayer feedback) in Taxpayer Information Summary (TIS). The Feedback processing approach is further classified as follows:If the information is marked as correct, the reported value in Annual Information Statement (AIS) is taken as correct.

a. If the information is marked as not fully correct, the modified attributes and values are saved in Annual Information Statement (AIS) . The derived value (i.e. value derived after considering the taxpayer feedback) in Taxpayer Information Summary (TIS) will also be reduced to enable seamless pre-filling. The feedback will be processed in accordance with the risk management system. In cases where modification is substantial, information source may be contacted to confirm the modification or provide additional information.

b. If the information is assigned to other PAN/Year, the modified value in Annual Information Statement (AIS) is saved after reducing the assigned amount. The derived value (i.e. value derived after considering the taxpayer feedback) in Taxpayer Information Summary (TIS) will also be reduced to enable seamless pre-filling. The assigned information will be shown in the AIS of other taxpayer/year using automated rules. In case the assigned information is modified/denied, it will be processed in accordance with the risk management system.

c. If the information is marked as duplicate or stated to be included in other information, the modified value in Annual Information Statement (AIS) will be taken as 0. The derived value (i.e. value derived after considering the taxpayer feedback) in Taxpayer Information Summary (TIS) will also be reduced to enable seamless pre-filling. The feedback will be processed in accordance with the risk management system. In cases where information marked as duplicate is substantial, information source may be contacted to confirm the modification or provide additional information.

d. If the information is denied, the modified value in Annual Information Statement (AIS) will be taken as 0. The derived value (i.e. value derived after considering the taxpayer feedback) in Taxpayer Information Summary (TIS) will also be reduced to enable seamless pre-filling. The feedback will be processed in accordance with the risk management system. In cases where information denied is substantial, information source may be contacted to confirm the modification or provide additional information.

e. If the information is marked against any customized feedback (e.g. Income is not taxable), the modified value in Annual Information Statement (AIS) will be taken as 0. The derived value (i.e. value derived after considering the taxpayer feedback) in Taxpayer Information Summary (TIS) will also be reduced to enable seamless pre-filling. The feedback will be processed in accordance with the risk management system. In cases where feedback is substantial, information source may be contacted to confirm the modification or provide additional information.

5. Derived value refers to value displayed in Taxpayer Information Summary (TIS) which is derived after considering the taxpayer feedback (if any) and processed value. The derived information will be used for prefilling of Return and will be displayed on the portal in a blue rectangular shaped box, if the reported value is changed due to feedback.

6. Processed Value refers to value after processing (including deduplication of information) based on pre-defined rules. The Processed Value is displayed only in Taxpayer Information Summary (TIS)

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