New facility started for taxpayers, will be able to give online feedback


Income Tax has released a new Annual Information Statement on its portal. It provides an option to give feedback to the taxpayers along with comprehensive information of the taxpayer. The new AIS can be accessed by clicking on the “annual information statement” link under the Services tab on the new Income Tax e-filing portal (https://www.incometax.gov.in).

The new annual information statement will include additional information related to interest, dividend, transactions in shares, mutual fund deals and remittances abroad. Till the new Annual Information Statement is not fully operationalized, Form 26AS will be available on the TRACES portal. Taxpayer Information Summary will also be available in the new Annual Information Statement which will work to make the filing of returns easier.

If the taxpayer responds to the Annual Information Statement, the information will automatically enter the TIS and will be used for filing returns. It will be implemented in a phased manner. The Central Board of Direct Taxes (CBDT) said that ‘taxpayers are requested to refer to the information shown in the Annual Information Statement and give feedback if the information needs to be amended. Taxpayers will be able to download AIS information in PDF, JSON, CSV formats. If the taxpayer feels that the information is incorrect. Facility to submit online feedback has been provided if the person/year belongs to other person/year, duplicate etc.

According to the CBDT, taxpayers have to keep in mind that the annual information statement includes the information currently available with the Income Tax Department. If there are some other transactions of the taxpayers which are not present in the annual information statement, then the taxpayers should check all the relevant information and provide complete and accurate information in the income tax return.

According to the tax department, taxpayers can refer to the information shown in the Annual Information Statement (AIS) and give your feedback if the information needs to be amended. The value given in Taxpayer Information Summary (TIS) can be considered while filing ITR. If ITR has already been filed and some information has not been included in ITR, then the return can be modified to give correct information.

read this also:

Multibagger Stock: This stock in Rakesh Jhunjhunwala’s portfolio can give returns of up to 50 percent

Dhanteras 2021: Lakshmi Puja can bring immense wealth and splendor in the house on Dhanteras, know worship material

.

Leave a Reply

Your email address will not be published. Required fields are marked *