The Annual Information Statement (AIS) is available to all registered Income Taxpayers through the compliance portal, accessible through the e-filing website (www.incometax.gov.in). This statement provides details of a large number of financial transactions undertaken by the taxpayer which may have tax implications, a PIB press release stated.
The AIS also provides an option for taxpayers to submit feedback regarding the accuracy of the information provided. This feedback can be used by the Tax Deductors/Collectors and Reporting Entities to rectify any errors.
The Central Board of Direct Taxes (CBDT) has now rolled out a new functionality in AIS to display the status of information confirmation process. The new AIS will also enable taxpayers to see if the feedback they have provided has been shared with the Source for confirmation. The date on which the feedback was shared and the date when the Source responded on the feedback will also be displayed.
The new functionality of AIS is expected to improve transparency and enable taxpayers to comply with their tax obligations. It is an initiative by the Income Tax Department to continuously improve the services provided to taxpayers and make the tax return filing process easier.