Uttarakhand HC: Severity of POCSO Charges Alone Cannot Deny Juvenile Bail  ||  Madras HC Grants Anticipatory Bail to Man Accused of Watching CM Vijay's Unreleased Film Online  ||  Jharkhand HC: Interest under Employees' Compensation Act Runs From Date of Accident  ||  Bombay HC Quashes Wakf Property Mutation as Enemy Property, Mandates Due Process  ||  J&K&L High Court: Limitation Must be Decided Before Hearing Appeal Against 31-Year-Old Mutation  ||  Allahabad HC Summons UP Home Secretary Over Delay in Custodial Death Compensation Guidelines  ||  Delhi HC Differs with DPIIT Paper, Says ChatGPT Injunction Would Hurt AI Development  ||  Supreme Court: MHADA can Enforce Developer's Rehabilitation Commitments  ||  SC: Transfer of Defrauded Funds To Accused's Account Alone Cannot Warrant Clubbing FIRs  ||  Supreme Court: States with Under 1,000 Consumer Cases Can Abolish Select District Commissions    

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