Annual Information System
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Annual Information System

Annual Information Statement

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).

Objectives of Annual Information System

  • Promote voluntary compliance and make return prefilling easy
  • Give taxpayers accurate information, including the option to leave online reviews.
  • Discourage non compliance

Process To Access Annual Information System

  1. Login to URL https://www.incometax.gov.in/
  2. Following a successful login, select “Annual Information Statement (AIS)” from the “Services” option on the e-filing page.
  3. On the home page, select the AIS tab
  4. To access the Annual Information System, choose the pertinent FY and click on the AIS tile.

Component of AIS

  • Part A: General Information
  • Part B: Other Inforamtion

Part A- General Information
The general information about you is shown in Part-A and includes your PAN, masked Aadhar number, name, date of birth, incorporation or formation, mobile number, e-mail address.

Part B- Other Information

  • TDS/TCS Information:-This page displays information on tax that was deducted or collected at the source. The following table displays the TDS/TCS information code, information description, and information value
  • SFT information:- Information obtained from reporting entities under the Statement of Financial Transaction (SFT) is shown under this heading. It is possible to get the SFT code, Information description, and Information value.
  • Payment of Taxes: -The information displayed relates to the payment of taxes under many headings, including Advance Tax and Self-Assessment Tax.
  • Demand and Refund: -You will be able to see specifics about the demands made and refunds started during the course of a fiscal year (AY and amount).
  • Other Information: – The information from the GST turnover reported under GSTR-3B, GST purchases reported under GSTR-1 of seller is given here.

Difference between AIS and Form 26AS

  • The extension of Form 26AS is AIS. Details of real estate acquisitions, high-value investments, and TDS/TCS transactions made during the financial year are shown in Form 26AS. In addition, AIS contains income from savings accounts, dividends, rent paid, purchases and sales of stocks and real estate, international transfers, interest on deposits, GST turnover, etc.
  • The taxpayer has the chance to comment on the reported transactions through AIS as well. Moreover, TIS additionally reports the aggregated transactions at the information source level.
  • If the taxpayer needs to confirm the GST turnover based on the data in Form GSTR-3B, only Form 26AS is shown.

AIS Preparation Steps

  • Step 01 – PAN Population
    The PAN will be populated based on matching Aadhar and other necessary factors if the provided information lacks a valid PAN.
  • Step 02 – Information Display
    The reported information is often shown next to the PAN holder. The information presentation logic for particular information, including property, bank accounts, Demat account, etc., aims to display information to pertinent PAN holders for assessment and feedback.
  • Step 03 – Information Deduplication
    The information with the lower value is flagged as “Information is duplicate / included in other information” by automatic rules when the same information is reported under other information categories (for instance, interest/dividend reporting in SFT and TDS).
  • Step 04 – Preparation of the Taxpayer Information Summary(TIS)
    The aggregated information summary for a taxpayer is produced by information category following information deduplication based on pre-established rules. It presents the processed value (i.e., value acquired when data is deduplicated using preestablished procedures) and derived value under each information category (i.e. value derived by considering taxpayer feedback and processed value).

Processing of AIS Feedback

  1. The Annual Information Statement (AIS) will include a record of the assessee’s feedback together with separate displays for the reported value and changed value (i.e., the value after feedback).
  2. The Taxpayer Information Summary’s derived value—the value arrived at after accounting for the assessee’s input—will be updated using the assessee’s input (TIS)
  3. Automatic rules will be used to process and display data from the AIS assigned to other PANs and years in the taxpayer’s AIS.
  4. The feedback will be evaluated in accordance with risk management principles if the assigned information is altered or rejected, with high-risk comments being marked for additional inquiry.

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