ITR Filing: Follow these steps if your AIS form is not showing income tax paid while filing income tax return

The Annual Information Statement (AIS) is a detailed summary of a taxpayer's information which is given in Form 26AS. In addition to the TDS/TCS details, AIS also show interest, dividend, stock market transactions, mutual fund transactions etc.

Those submitting ITR will now be required to examine both Form 26AS and AIS.

The Annual Information Statement (AIS) is a consolidated document that includes all financial transactions of a taxpayer, including income, spending, and taxes paid. It is used by the tax department to check the accuracy of the taxpayer’s income tax returns (ITR). However, there may be cases where self-assessment tax paid by you while submitting ITR for FY 2022-23 (AY 2023-24) does not appear in the AIS for the same fiscal year.

If you find inaccuracies in your Annual Information Statement (AIS), you can get them corrected.

This year, the income tax department has made adjustments to how the tax paid/deposited is displayed to the individual. Any tax deducted at source (TDS) or tax collected at source (TCS) is still reported in Form 26AS. However, any self-assessment and advance tax will be reflected in the AIS. Previously, all tax payments were reflected on Form 26AS.

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Those submitting ITR will now be required to examine both Form 26AS and AIS to determine the entire amount of tax deposited against their PAN.

Annual Information Statement (AIS): How To Check

Step 1: Visit the income tax e-filing official website at www.incometax.gov.in.

Step 2: On the homepage, go to ‘Services’ then ‘Annual Information Statement’.

Step 3: Look for and click on the ‘Proceed’ button.

Step 4: You will be redirected to the compliance page. After which you can check the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS) on the home page.

Step 5: Select the related financial year. Subsequently, you can view the TIS or AIS by clicking the relevant options.

Step 6: Check and download the TIS or AIS in pdf format.

When submitting an amended AIS, you must also pay any additional taxes owed as a result of the inaccuracies. You can do this by using the IT e-filing portal's online tax payment function. If you think that a transaction has been recorded improperly, follow the steps below to find and repair the issue:

Steps To Locate As Well As Rectify Mistakes In AIS

Check Bank Statement: Check your bank statement to confirm the transaction information if it was a payment or receipt through your bank account. Also, check that the amount, date, and other information correspond to what is in your financial records.

Check Source Document: Return to the original source document, such as an invoice or receipt, and confirm the transaction facts. Remember to check that the amount, date, and other pertinent information match what is documented in your financial records.

Reconcile Accounts: If you still can't find the issue, try reconciling the relevant accounts. This entails comparing the transactions reported in your financial records to those in your bank statement or other external records. Any discrepancies should be investigated further.

Check Ledger Accounts: After reviewing the source document, you should look through the relevant ledger accounts to find the transaction. Look for any entries that match the amount or description of the transaction. Check that both the debit and credit entries are valid.

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