Error in AIS: How to correct errors in Annual Information Statement to file ITR Taxpayers can provide feedback on information displayed in AIS
If taxpayers find mistakes in the financial transactions in their Annual Information Statement (AIS), they have the right to file a report. The tax department will verify the source when you bring up the matter. A notification under the e-verification process may be given if the discrepancy persists.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;} Also read: Complete ITR filing guide
What is Annual Information Statement (AIS)?
Annual Information Statement (AIS) is 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 objectives of AIS are:
Displays complete information to the taxpayer with a facility to capture online feedbackPromotes voluntary compliance and enable seamless prefilling of returnDeters non-compliance.
How to track the activity history in AIS?
You can view your activity history in AIS by clicking the Activity History icon on the homepage. An overview of activities on the AIS feature will be displayed. Each performed activity will be assigned a system generated ID (Activity ID), and this tab will provide the Activity date, Activity description, and detail.Also read: Who needs to file income tax return (ITR) in India for FY 2023-24
If there is a discrepancy between the information in the AIS and the income tax return you submitted, the income tax department may ask you to clarify it. However, if there is a mistake and you have not provided feedback asking for a correction, it may be presumed that the information represented in AIS is correct.
How to submit feedback on AIS information?
You can submit feedback on active information displayed under TDS/TCS Information, SFT Information or Other information by following below mentioned steps:Step 1: Once logged in, select 'Annual Information Statement (AIS)' under the 'Services tab'.
Step 2: On your screen, Part A and Part B of AIS will be shown. Select the information that is not correct. Select 'Optional' to submit your feedback.
Step 3: Step 5: From the drop-down menu, select the option which is applicable to you. There will be 7 options available to you:
a) Information is correct
b) Transfer not in the nature of sale
c) Income is not taxable
d) Information is not fully correct
e) Information relates to other PAN/Year
f) Information is duplicate/included in other information
g) Information is denied
Step 4: Click Submit to submit the feedback.
Important FAQs related to AIS feedback.
What will happen once I submit the feedback?
Upon successful submission of feedback on AIS information, the feedback will be displayed with the information and the modified value of the information will also be visible with the reported value. The activity history tab will also be updated, and you will be able to download Acknowledgement Receipt. Email and SMS confirmations for submission of feedback will also be sent.Would I get any confirmation on submission of AIS feedback?
Yes, after successful submission of your feedback on AIS information, the activity history tab will be updated, and you will be able to download Acknowledgement Receipt of the same. Email and SMS confirmations for submission of feedback will also be sent.
What is AIS Consolidated Feedback file?
AIS Consolidated Feedback file (ACF) gives the taxpayers a facility to view all their AIS feedback (other than feedback, ‘Information is correct’) related information in one pdf for easy understanding. After submitting the feedback of the AIS, you can download the AIS consolidated feedback file (PDF).
Is there any limit on the number of times I can modify a given feedback?
Currently, there is no limit on the number of times you can modify previously given feedbacks.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}
This story originally appeared on: India Times - Author:Faqs of Insurances
