How to fix errors in your Annual Information Statement (AIS)
MAS Team | 22 July 2022
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The Annual Information Statement (AIS) is a comprehensive statement containing details of financial transactions done by you, irrespective of whether tax has been deducted or not. AIS was launched by the income tax department in November 2021. The AIS informs a taxpayer about information that the income tax department has received from various financial entities during the financial year.
The information in one's AIS is pre-filled with details (as mandated by law) shared by financial entities like banks, mutual fund houses, your employer regarding the TDS that has been cut from your salary and various sources of income such as dividend, interest (even if tax is not deducted) during a financial year.
In case there is an error and you have not given feedback requesting a correction, then it may be assumed that the information reflected in AIS is correct and the income tax department may ask you to explain the mismatch between the income tax return filed by you and the information in the AIS.
"If the taxpayer feels that the information is incorrect, relates to other person/year, duplicate etc., a facility has been provided to submit online feedback. Feedback can also be furnished by submitting information in bulk," stated a press release issued by the Central Board of Direct Taxes (CBDT) issued on 1 November 2021.
Let us see how the taxpayer can address the errors in AIS online by following the instructions below:
Step 1: Log in using your PAN and password to the new income tax e-filing portal.
Step 2: Under the ‘Services’ tab, click on Annual Information Statement (AIS) from the drop-down menu and click on ‘proceed’ to be redirected to the AIS homepage.
Step 3: A new window of AIS will open; you can select the ‘AIS tab’ from the top.
Step 4: Next, you will get two options to select, i.e. Taxpayer Information Summary (TIS) and Annual Information Statement (AIS).
Step 5: Click on (AIS), and the next page will appear in two parts.
- Part A will have General Information like PAN, mobile number, email address, date of birth, name as per PAN, etc.
- Part B includes TDS/TCS Information, Specified Financial Transactions (SFT) Information, payments of taxes, demands and refunds, and other information.
Step 6: If any information reflected in Part B is incorrect, click on its row. A new table with ‘details’ will appear below the information which needs to be corrected. Click on ‘optional’ under the feedback column.
Step 7: A feedback window will appear; you can select the ‘feedback type’ from the drop-down. The drop-down has these options:
o Information is correct
o Income is not taxable
o Information is not fully correct
o Information relates to other PAN/year
o Information is duplicated/included in other information.
o Information is denied
Step 8: Once you select your feedback type, click on ‘Submit’ to let the Income Tax Department fix your errors.
The new AIS will enhance voluntary compliance by the taxpayers. Taxpayers have to be more vigilant with their ITR filing requirements and income tax provisions.
Also, taxpayers should start reviewing the new AIS statement in intervals to ensure all the details are reported correctly and raise the feedback immediately for any errors.
Dear Investor,
In case of any grievance / complaint :
In case of any grievance / complaint :
- Please contact Compliance Officer Pankaj Raheja at [email protected] and Phone No. - 91-22-35131664.
- You may also approach CEO Debashis Basu at email- id [email protected] and Phone No. - 91-22-35131664.
