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Annual Information Statement (AIS): All You Need To Know


On November 1, 2021, the department of tax to make things more transparent has come up with AIS or Annual Information Statement. This statement will detail or put forth all the digital financial transactions carried out by the taxpayer in a given FY. This shall be an extensive list even broader than the form 26 AS which essentially provides details on taxable income and tax deducted at source.

Annual Information Statement (AIS): All You Need To Know

Here's all you would need to know about AIS/Annual Information Statement

What is AIS/Annual Information Statement?

Typically AIS is a financial summary of the taxpayer that is available with the income tax department and it shall facilitate ease in the filing of the taxes. The information on the various financial transactions executed by you is obtained by the department from the various financial entities which are delegated with the task of furnishing such information.

The AIS is divided into 2 parts -Part A and Part B. Part A includes information on PAN,
masked Aadhaar number, name of taxpayer, date of birth etc. On the other hand Part B includes comprehensive information of TDS, TCS, Specified financial transactions, payment of taxes, tax demand and refund and other information.

What all information will be included in the new AIS/Annual Information Statement?

-It would disclose the interest credited to taxpayer's banks savings account.
- All mutual fund transactions
- Value of share sale as well as purchase together with transaction in debt securities.
- Receipt from various sources including salary, interest, dividend income etc.

How can a taxpayer access Annual Information Statement?

After the taxpayer log in to his or her account on the new income tax portal, under the Service section, the last option says AIS

After clicking on that you will be directed to a new page giving 3 options
Annual Information Statement (AIS) - PDF
Annual Information Statement (AIS) - JSON (for AIS Utility)
AIS Consolidated Feedback (ACF) - PDF


So, from herein you can download the statement in either of the format and this precisely is password protected with password being combination of your PAN and date of birth.

Note the income tax has also stated a disclaimer there that the information lists out transactions that are available with the tax department current and there may be other transactions relating to the taxpayer which are not presently displayed in Annual Information Statement (AIS). Taxpayer is expected to check all related information and report complete and accurate information in the Income Tax Return.

Other than AIS there is also unveiled TIS which just illustrates the information in the AIS in a more accessible manner. Say, it will be compiled in say 3 columns -information category-that would define nature of the income, processed and derived value.

"TIS shows the processed value (i.e. the value generated after deduplication of information based on pre-defined rules) and derived value (i.e. the value derived after considering the taxpayer feedback and processed value). If the taxpayer submits feedback on AIS, the derived information in TIS will be automatically updated in real-time. The derived information in TIS will be used for pre-filling of Return (pre-filling will be enabled in a phased manner)", said the income tax department release.

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