Taxpayers can now get a more detailed statement of their financial transactions on the income tax website. The I-T department on Monday rolled out a new annual information statement (AIS) that has more financial information than the prevalent annual statement — Form 26AS.
The AIS includes additional information related to interest, dividend, securities transactions, mutual fund transactions and foreign remittance information.
At present, both AIS and Form 26AS are available for download. The IT department said Form 26AS will be discontinued once AIS becomes completely operational.
The AIS also has an option to submit feedback. If a taxpayer feels than any information is incorrect, he/she can submit a request online requesting modification.
Taxpayers can access the AIS by visiting www.incometax.gov.in and going to the services tab.
The I-T department has been expanding the details available on the annual statement ever since the Union Budget 2020 proposed rationalisation of provision relating to Form 26AS. From June 2020, Form 26AS started capturing new details like purchase of immovable property, sale and purchase of shares and mutual fund units if the value of the transaction exceeded a specified limit.
