BackCheck AIS before filing tax returns: I-T department
Income tax return filing for AY 2022-23 is available on e-filing portal. Check your form 26AS, annual information statement and other relevant documents before submission. Be an early filer, the department
PremiumNEW DELHI : With the income tax return filing season for assessment year 2022-23 beginning, the Income Tax department has urged tax payers to check their tax credit statement—form 26AS— and other documents before filing the returns.
“Income tax return filing for AY 2022-23 is available on e-filing portal. Check your form 26AS, annual information statement and other relevant documents before submission. Be an early filer," the department said in a social media post on Thursday. For those requiring no tax audits, 31 July is the due date for filing income tax returns.
The department has been gradually scaling up the information on transactions it collects from various third party sources to make sure that income does not go unreported. Form 26AS contains various details including taxes deducted and collected by various entities on behalf of the tax payer, advance tax and self-assessment tax deposited by the tax payer and refunds received.
The annual information statement (AIS) includes information presently available with Income Tax Department. It is comprehensive view of information for a taxpayer displayed in form 26AS. Taxpayer can provide feedback on information displayed in AIS and it shows both the reported value and the modified value.
There may be other transactions relating to the taxpayer which are not presently displayed in the AIS and the taxpayer is expected to check all related information and report complete and accurate information in the income tax return, according to the tax department.
Both direct and indirect tax administrations are increasingly using social media platforms to reach out to tax payers and to respond to any glitch reported by professionals. The government has a target for collecting ₹14.2 trillion in direct taxes in FY23.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
