So as to enhance the clarity and simplify the tax return furnishing procedure the CBDT vide Notification dated May 28, 2020, has amended income tax 26AS form vide Sec 285BB of Income Tax Act, 1961 r.w.r.114-I of IT Rules, 1962 w.e.f. 01.06.2020. The 26AS Form under income tax comprises an Annual information statement or AIS that consists of a complete profile of the assessee in a specific year.
Annual Information Statement or AIS comprises a view of details for the assessee shown in Form 26AS. In the making of AIS, the details processing is needed to show complete and precise details to the assessee.
What Do You Mean Annual Information Statement?
Annual Information Statement (AIS) comprises a view of information for the assessee shown inside Form 26AS. The assessee would furnish feedback on details shown in AIS. AIS mentioned both reported value and modified value that is after recognizing the assessee feedback beneath every section that is TDS, SFT, and other details. The purpose of AIS comprises: Display the complete details to assess with the utility to take the online feedback, promote voluntary compliance and enable seamless prefilling of return Deter non-compliance.
Benefits of New AIS
Specifications of the new AIS comprises of:
- Inclusion of new information (interest, dividend, securities transactions, mutual fund transactions, foreign remittance information, and others.)
- Utilization of Data Analytics to populate PAN in non-PAN data for inclusion in AIS.
- Deduplication of details & generation of an easier Taxpayer Information Summary (TIS) for simple furnishing of return (pre-filling will be enabled in a phased manner).
- The assessee would be enabled to submit the online feedback on the basis of the information shown in the new AIS along with the download details in PDF, JSON, CSV formats.
- The new AIS Utility will enable taxpayers to view AIS & upload feedback in an offline manner.
- AIS Mobile Application would enable the assessee to view new AIS & upload feedback on mobile.
Format of Password to Open AIS Consolidated Feedback (PDF) File
AIS Consolidated Feedback (PDF) undergoes password protection. To open the file, you are required to enter the combination of the PAN (in upper case) and the date of birth, if you are an individual assessee or date of incorporation/formation for the non-individual taxpayer in the format DDMMYYYY (without any space). For example, if the PAN is AAAAA1234A and the date of birth is 21st January 1991 then your password will be AAAAA1234A21011991.
In Gen Income Tax Filing Software Following Options are Available
On furnishing the ITR via Gen Returns e-filing Software then you would see your AIS or TIS inside the PDF format as well as you would be enabled to import the data from AIS or TIS and transfer it to the concerned authority.
- You can download and see your AIS/TIS in PDF Format with one tap
- You can Import Data from AIS/TIS and transfer it to the concerned authority.
- You can compare AIS/TIS Data with 26AS form
How to Download and View Your AIS/TIS via Gen IT Software
Step1: Open Genius software
Step2: After that click Income tax
Step3: Now Click on Computation
Step4: Then Select the Client
Step5: After that click on AIS/TIS
Step6: Now to Download AIS/TIS (PDF)
Simple Steps to Import Data from AIS/TIS by Gen IT Software
Step1: Open Genius software
Step2: After that click Income tax
Step3: Now Click on Computation
Step4: Then Select the Client
Step5: After that click on AIS/TIS
Step6: Then Click on Get AIS/TIS @ ITD
Step7: Click on Option AIS/TIS
Step8: After that Select the Browser
Note: You can check Particular Head Wise Details i.e. TDS/TCS, SFT, Payment of Taxes Etc.
Transfer Data to Relevant Head from Gen ITR Filing Software
Step1: Open the software
Step2: After that click Income tax
Step3: Now Click on Computation
Step4: Then Select the Client
Step5: After that click on AIS/TIS
Step6: Now got to Taxpayer Information Summary
Step7: Then Select an Item
Step8: Now Click on “Right Click and Click on “Transfer Data to Relevant Head
Differentiate AIS/TIS Data with Computation & 26AS by Gen IT Filing Software
Step1: Open the software
Step2: After that click Income tax
Step3: Now Click on Computation
Step4: Then Select the Client
Step5: After that click on AIS/TIS
Step6: Now got to Taxpayer Information Summary
What is the Reason to Choose Gen IT Software?
Gen IT software is one of the first solutions in the market to offer AIS/TIS features within the software itself as per government compliance. Also, the Gen IT return e-filing software can offer a summarized head on the first basis to the client also. The Gen IT software is also a reliable software to get the complete filing features such as return filing, document storage, master data, and more.
FAQs on AIS/TIS Feature in Gen IT Software
Q.1 – Can I Download Online AIS/TIS from Gen IT Software?
Yes, one will be able to download the online AIS/TIS from the Gen IT software easily.
Q.2 – Is Gen IT Software Shows Different Types Features in AIS?
Yes, Gen IT is able to offer multiple featureful specifications while filing AIS as per government compliance. You can check Particular Head Wise Details i.e. TDS/TCS, SFT, Payment Of Taxes Etc.
Q.3 – Can I Compare AIS/TIS Data with Form 26AS Via Gen IT Filing Software?
Yes, you can easily compare the AIS/TIS Data with Form 26AS within the Gen IT filing software as per the government compliance.
Q.4 – Do I Transfer Data to the Particular Head from AIS via Software?
Yes, one can make a quick transfer of data within the Gen IT software and also it can make ahead transfer as per the requirement of the client.
Q.5 – Is the Download Option Available for AIS in PDF Format?
Yes, the Gen IT software can quickly download the AIS in PDF format and save it on the desktop.
