Call How to give feedback in AIS (Annual Information Statement)
Annual Information Statement (AIS) is a detailed and comprehensive summary of information for a taxpayer during the relevant financial year. AIS information is based on information reflected in Form 26AS on traces portal. Since AIS is a summary of information based on Form 26AS, it primarily portrays details of TDS or TCS information. Along with information related to TDS/TCS it also shows information with respect to all the other incomes of taxpayers, high value or SFT transactions, income from other sources like interest or dividends and details of taxes paid or refund received.
Under AIS, taxpayer has been provided with a functionality to give feedback on transactions displayed therein, in case there are any errors reflected in such information.
How to submit feedback in AIS :
AIS has two types of information which is PART A General information and PART B TDS/TCS related information. Where taxpayer believes that there exists a mistake or error in the information reflected in AIS portal he is required to submit the feedback online on the compliance portal of AIS.
You can submit feedback on active information displayed under TDS/TCS Information, SFT Information or Other information by following below mentioned steps:
- Go to AIS tab in the income tax portal and expand any tab to view the information. As shown below, upon expanding the TDS/TCS information tab there is an option to give feedback.
- Upon opening the optional tab under feedback, it will open the new page asking you to provide type of feedback. There are different types of feedback mentioned in the populated tab for feedback as shown in the below image. –
- Upon successful submission of feedback on AIS information, the feedback will be displayed with the information and the modified value of the information will also be visible with the reported value in the feedback, however it depends on the type of response. The activity history tab will also be updated, and you will be able to download Acknowledgement Receipt. Email and SMS confirmations for submission of feedback will also be sent.
New Press Release for rolling out new functionality in AIS is out on 13th May, 2024:
Income Tax Department has now rolled out a new functionality in AIS to display the status of information confirmation process. This will display, whether the feedback of the taxpayer has been acted upon by the Source and whether it is accepted or rejected. If such feedback is accepted by the source, then the source is required to file a correction statement. The taxpayer will be able to view the status of Feedback confirmation by the source (as displayed below in Status of feedback confirmation image).
The taxpayer will be able to ascertain the status of feedback provided by them as per the following points:
- Whether feedback is shared for confirmation: Taxpayer will know whether such feedback has been shared with reporting source for confirmation or not.
- Date of feedback: Taxpayer will know the date on which he shared the feedback with reporting source for confirmation.
- Date of response: Taxpayer will know the date on which reporting source has responded to shared feedback.
- Source response: Taxpayer will know response provided by reporting source on the feedback in relation to any correction is required or not on such feedback.
Conclusion:
AIS is a functionality showing a taxpayer’s financial information for the relevant financial year. It provides taxpayers with an option to submit feedback on the information displayed on AIS portal, if there are any mistakes or errors existing in such information. This reporting of feedback is done directly to the reporting source and presents a chance to such reporting source to confirm such information and if it is correct then file a correction to help taxpayer.
New functionality rolled out by Income tax department as mentioned in the press release dated 13th May, 2024 is aimed at enhancing the transparency by displaying status of actions taken on feedback by such reporting sources. This will ensure ease of compliance and enhanced taxpayer services.
About Author:
CA Chinmay Shirish Agate
Chinmay Agate is a Practicing Chartered Accountant having 4+ years of experience and expertise in the field of Direct Taxation and Auditing compliances. In the past, he worked in various CA firms and comes with wide industry experience from services, retail to manufacturing to trading where he has handled various complex assignments. He has keen interest in Forex and Derivative knowledge as well as fundamental analysis.