J&K&L High Court: Maternity Leave is a Constitutional Right and Cannot be Treated as State Charity  ||  P&H High Court: Second Anticipatory Bail Plea is Not Maintainable After Supreme Court Rejection  ||  Bombay High Court: No Prior Sanction is Required to Prosecute Police For Custodial Assault  ||  Allahabad High Court: Strict Proof of Marriage is Unnecessary if Couple Lived as Husband and Wife  ||  Delhi High Court: UP Passport Disputes Cannot be Filed in Delhi Only Because MEA is Based There  ||  Bombay High Court: Revenue Officers Cannot Decide Caste Status to Remove Tribal Land Protections  ||  Calcutta High Court: Punjab National Bank Liable to Compensate Farmers For Crop Insurance Lapse  ||  Calcutta High Court: Joint Settlement of Liquor Licence is Allowed if All Eligible Heirs Consent  ||  Delhi High Court Holds Multiple Sclerosis is a Specified Disability under the RPWD Act  ||  Allahabad High Court: An Alibi Must be Proved at Trial and Cannot be Accepted by the IO Alone    

CBDT introduces new functionality in Annual Information Statement for taxpayers - (13 May 2024)

Direct Taxation

The Central Board of Direct Taxes (CBDT) 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, by either, partially or fully accepting or rejecting the same. In case of partial or full acceptance, the information is required to be corrected by filing a correction statement by the Source. This new functionality is expected to increase transparency by displaying such information in AIS to the taxpayer. This is another initiative of the Income Tax Department towards ease of compliance and enhanced taxpayer services.

The Annual Information Statement (AIS) is available to all registered Income Taxpayers through the compliance portal, accessible through the e-filing website. AIS provides details of a large number of financial transactions undertaken by the taxpayer which may have tax implications. AIS is populated based on the financial data received from multiple information sources.

In AIS, taxpayer has been provided with a functionality to furnish feedback on every transaction displayed therein. This feedback helps the taxpayer to comment on the accuracy of the information provided by the Source of such information. In case of wrong reporting, the same is taken up with the Source for their confirmation, in an automated manner. Information confirmation is currently made functional with regard to information furnished by Tax Deductors/Collectors and Reporting Entities.

Tags : NEW FUNCTIONALITY   AIS   RELEASE  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved