ITR Filing: How To Fix Errors In Annual Information Statement (AIS) Online?

The Income Department presented the new Annual Information Statement (AIS) on the Compliance Portal at the beginning of the current month of November, which offers a taxpayer a detailed overview of the financial transactions made by him or her. The new AIS, according to the department, comprises additional details on interest, dividends, securities transactions, mutual fund transactions, foreign remittance records, and so on. The new AIS also includes an alternative for taxpayers to provide online feedback if they believe the information in the AIS is erroneous, pertains to another person/year, or is duplicate.

Some transactions involving the taxpayer that are not valid or do not pertain to him or her in the Annual Information Statement may exist. Taxpayers should double-check all necessary details and fill out the Income Tax Return completely and accurately. As a result, taxpayers should review the values or details recorded in the Annual Information Statement (AIS) and provide feedback if any of them needs to be changed. Hence, a taxpayer can address the errors in AIS online by following the instructions below.

Steps to fix errors in Annual Information Statement (AIS) online

• Visit https://www.incometax.gov.in/iec/foportal and click on 'Login'
• Now enter your PAN, Aadhaar Number, or any other User ID in order to sign into your account.
• Under the drop-down menu of 'Services' click on Annual Information Statement (AIS)
• Now select the tab 'AIS' and you will get options two select i.e. Taxpayer Information Summary (TIS) and Annual Information Statement (AIS).
• Click on Annual Information Statement (AIS) and on the next page two options will appear i.e. Part A- General Information and Part B which includes TDS/TCS Information, SFT Information, Payments of Taxes, Demand and Refund, and Other Information.
• Select either Part A or Part B which you think is not correct and click on 'Optional' to submit your feedback.
• Now from the drop-down menu select your feedback type from Information is correct, Income is not taxable, Information is not fully correct, Information relates to other PAN/Year, Information is duplicate/included in other information, Information is denied and Transfer not in the nature of sale.
• Upon selecting your feedback type, click on 'Submit' to let your errors fixed by the Income Tax Department.

According to a tweet from the Income Tax Department published on 16th November 2021 "Taxpayers may give feedback on the accuracy of the info displayed, modify information value & also give customized feedback on an info category. Click on link 'AIS' under 'Services' tab on /incometax.gov.in." According to the department, there are also some Do's & Don'ts which the taxpayer must follow to have a seamless experience in the AIS utility. To know about the Do's & Don'ts of AIS, please click here.