I-T department rolls out new annual info statement; taxpayers can give feedback

NEW DELHI: The income tax (IT) department has rolled out the new annual information statement (AIS) on the compliance portal, which provides a comprehensive view of information to a taxpayer, with a facility to capture online feedback and includes additional information linked to interest, dividend, securities transactions, mutual fund transactions, foreign remittance information and other such transactions.. The tax department said the display of Form 26AS on the TRACES portal will also continue in parallel till the new AIS is validated and completely operational and added that the reported information has been processed to remove duplicate information. Experts said the AIS is a tax passbook of an assessee which provides information about the pre-paid taxes and prescribed financial transactions undertaken during the previous year and expands the scope of information in the new form 26AS.

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