Annual Information Statement 2025: Know Latest Update Introduced in AIS
The Annual Information Statement (AIS) is a detailed record of all the financial transactions done by a taxpayer during a financial year. It was designed by the Income Tax Department. The AIS has 57 types of different data, including salary, rent, dividends, income paid by companies, interest (FD or savings), GST Turnover, property transactions, stock or mutual fund trades, lottery winnings, and large cash or foreign transactions.
Understanding Annual Information Statement
The Annual Information Statement is a detailed summary of a taxpayer’s information, which is given in Form 26AS. It consists of two parts:
- Part A: It includes details like the name of the taxpayer, Permanent Account Number (PAN), masked Aadhaar number, date of birth, mobile number, email ID, and address.
- Part B: This part provides a detailed summary of your financial activities, such as TDS or TCS, Statement of Financial Transactions (SFT), tax payments, and other relevant information.
How Does AIS Help in ITR Filing?
AIS automatically fills in the data in the Taxpayer Information Summary (TIS), which is used for ITR Submission. Make sure that the data is accurate before filing the ITR to avoid errors. Taxpayers should make sure that all income and financial transactions for the year are accurately shown in the AIS to avoid mistakes or notices from the tax department.
How to View the Annual Information Statement?
Here is how the taxpayers can view their AIS:
- Go to the income tax website at https://www.incometax.gov.in/.
- Submit your PAN and password to log in to the website.
- Navigate to the Services tab and click on Annual Information Statement from the dropdown menu.
- Choose the relevant Financial Year to view the AIS.
- Click on download to view the “TIS” for a summarised view of your income and taxes, or the “AIS” for a detailed transaction-level overview.
Taxpayers should note that the AIS PDF is protected with a password. Use the following format for the password:
- Password: PAN (in lowercase) + Date of Birth (in DDMMYYYY format)
- For example, for PAN ABCPE1234P and DOB 11 July 1994, the password would be abcpe1234p1107194.
New Update in AIS: Real-Time Feedback Tracking Feature in AIS
The Central Board of Direct Taxes (CBDT) has designed a new feature in the AIS that allows taxpayers to track the status of their feedback on reported financial transactions. Here are some features of Real Time Feedback Tracking:
- Feedback Shared for Confirmation: It shows whether your feedback has been sent to the reporting source for verification.
- Date of Feedback Shared: It shows the date your feedback was shared with the source.
- Date of Source Responded: Taxpayers can see the date on which the reporting source replied to their feedback.
- Source Response: It shows if the source has accepted the feedback, partially accepted it, or dismissed it.
This measure focuses on improving the transparency and helping taxpayers to make sure the data is correct in their ITR filings.
