Income Tax Return: How to easily access and review your Annual Information Statement with a click

livemint.com:

income tax return (ITR) form.To start with, you need the Annual Information Statement (AIS), which is essential for filing your ITR in India, serving as a comprehensive record of all your financial transactions reported to the Income Tax department. Here’s an overview of its significance and how it complements Form 26AS:Scope: The AIS offers a broader spectrum of information compared to Form 26AS.

It encompasses details such as Tax Deducted at Source (TDS), Tax Collected at Source (TCS), interest income, dividend income, transactions involving securities and mutual funds, and other relevant financial activities. This comprehensive coverage ensures that all income sources and eligible tax deductions are accounted for accurately during the filing of your ITR form.Verification: By reviewing the AIS, you can ensure the accuracy of the information compared to your own records.

If discrepancies are found, you can address them promptly through the AIS portal, preventing errors or delays in filing your ITR.Simplicity: Consolidating all financial transactions into a single document streamlines the ITR filing process, eliminating the need to gather documents from multiple sources.ALSO READ: Income Tax Filing 2024: What to do if Form 16 data mismatches ITR prefilled form?Here’s a step-by-step guide to accessing and reviewing your AIS before filing your ITR form in India:Step 1: Visit the official website of the Income Tax Department of India. To log in, ensure you are registered and use your Permanent Account Number (PAN) as the user ID.Step 2: You can find the AIS statement using either of the following methods:Step 3: Once on the AIS homepage, you'll see your Taxpayer Information Summary (TIS) and the AIS tile.