Taxpayers can send online feedback on annual information statement: I-T department 

The department said that the transaction history captured in the new comprehensive annual information statement (AIS) has a facility for online feedback.  

“If the taxpayer feels that the information is incorrect, relates to other person/year, duplicate etc., a facility has been provided to submit online feedback,” the department said.  

The new AIS can be accessed by clicking on the link ‘annual information statement (AIS)’ under the ‘services’ tab on the new e-filing portal. The display of form 26AS on the department’s TRACES portal will also continue in parallel till the new AIS is validated and is completely operational, the department said. 

The new AIS includes additional information relating to interest, dividend, securities transactions, mutual fund transactions and foreign remittance information, which gives a comprehensive view of the assessee’s financial transactions. 

An AIS Utility has also been provided for taxpayers to view AIS and upload feedback in offline manner. The reported value and value after feedback will be shown separately in the AIS. In case the information is modified/denied, the information source may be contacted for confirmation. 

A simplified taxpayer information summary or TIS has also been generated which shows aggregated value for the taxpayer for ease of filing return.  If the taxpayer submits feedback on AIS, the derived information in TIS will be automatically updated in real time. TIS will be used for pre-filling of return which will be enabled in a phased manner, the department said. 

It also advised taxpayers to report complete and accurate information in the income tax return. 

“The taxpayers are requested to view the information shown in AIS and provide feedback if the information needs modification. The value shown in TIS may be considered while filing the ITR. In case the ITR has already been filed and some information has not been included in the ITR, the return may be revised to reflect the correct information,” the department said. 

In case there is variation between details shown in form26AS on TRACES portal and the TDS/TCS or tax payment information as displayed in AIS, the taxpayer may rely on the information displayed on TRACES portal for filing of tax returns and other compliances, the statement said.