Key Points
The Income Tax Department launched the new Annual Information Statement (AIS) on the Compliance Portal in 2021, which gives a taxpayer a comprehensive view of of the financial transactions carried out during a financial year...
Before AIS was introduced, most of the details were available in the taxpayers Form 26AS (also known as the tax passbook)..
Here is a look at the key differences between Form 26AS and AIS...
Other Information: - Details of the information received from the other sources, such as data pertaining to Annexure II salary, Interest on refund, Outward Foreign Remittance/Purchase of Foreign Currency etc., is displayed here..
Details of tax deducted at source and of the deductorsDetails of advance tax,Details of self-assessment taxTax refundsDetails of Annual Information Report (AIR) and high-value transactionsDetails of tax deducted on the sale of property or any other high-value transactions, among others.Details of tax collected at source..
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