AIS contains information related to income earned from various sources, such as salary, dividend, interest from savings account, recurring deposits, sale and purchase of stocks, bonds, mutual funds, etc. The statement also contains information related to TDS, TCS and any taxes. claim or refund.
This is how you can download AIS from the e-filing website.
Steps to download AIS from the new income tax portal
Step 1: Log into your account on the government e-filing portal at www.incometax.gov.in.
Step 2: On the ‘Services’ tab, select ‘Annual Information Statement (AIS)’. A pop-up window will appear on your screen. Click ‘Continue’. You will be redirected to another website.
Step 3: On the web page tab that opens, select ‘AIS’.
Step 4: You will need to select one of two options: Taxpayer Information Summary (TIS) or Annual Information Statement (AIS). It will also show the financial year for which AIS is being downloaded, its PAN, and the name.
Step 5: Select the download arrow in the AIS box. A pop-up window will appear asking you to select the format to download AIS. The statement can be downloaded in PDF format and in the JSON utility.
The PDF is password protected. The password to access the downloaded PDF is a combination of your PAN and date of birth. For example, if your PAN is AAAAA000A and your date of birth is January 1, 1991, your PDF password will be AAAAA0000A01011991.
Information in AIS
AIS is divided into two parts: Part A and Part B. Part A contains general information such as PAN, masked Aadhaar number, taxpayer name, date of birth, etc. Part B contains complete information on TDS, TCS, specific financial transactions, tax payment, claim and tax refund, and other information.
AIS contains ALL your financial transactions known to the tax department
Check for errors
The income tax department in its press release of November 1, 2021 has asked taxpayers to verify the information available in the AIS. If there is a discrepancy in the information, taxpayers should report to the income tax department. If the discrepancy is not reported to the tax department, then the information reflected in the AIS can be assumed to be correct and the income tax department may ask you to explain the discrepancy between the information on the tax return submitted by you and that of the AIS.
How to fix errors in AIS
“If the taxpayer feels that the information is incorrect, relates to another person / year, duplicate, etc., a facility for submitting comments online has been provided,” the press release reads.