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Home / Money / Personal Finance /  Annual Information Statement (AIS): Dos and Don’ts which the taxpayer must follow
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The income tax department recently rolled out a new annual information statement (AIS) on its portal that provides a comprehensive view of taxpayer information and an option to submit feedback.

The new AIS includes additional information related to interest, dividend, securities transactions, mutual fund transactions and foreign remittance information.

The income tax department has shared some dos and don’ts which the taxpayer must follow to have a seamless experience in the AIS utility.

“Caveat! There are some Do’s & Don’t's which the taxpayer must follow to have a seamless experience in the AIS utility," income tax department said in a tweet.

Dos

-Use the latest version of the AIS utility

-Give feedback on the information displayed in AIS

-Check your TIS to confirm the values used for prefiling of returns.

-View your AIS regularly.

-Use AIS utility to view AIS and provide feedback if the transactions count is high.

Don'ts

-Don't use the old version of AIS JSON for preparing feedback through utility

-Don't provide incorrect feedback on the AIS information

-Don't share your e-filing credentials with anyone

The new AIS also provides for a simplified taxpayer information summary (TIS), which shows aggregated value for the taxpayer for the ease of filing returns.

If the taxpayer submits feedback on AIS, the derived information in TIS will be automatically updated in real-time and will be used for pre-filling of return which shall be implemented in a phased manner.

 

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