The income tax department launched a new AIS app for the assessee. There is good news if you are an assessee. The income tax department would have started the new mobile app known as the AIS to obtain the Annual Information Statement (AIS). For each transaction, the assessee shall obtain detailed information via the same application.
On Form 26AS, the Income Tax department has issued an update. Merely the TDS/TCS information would be displayed in it. On AIS additional details such as advance tax, self-assessment tax, and refund information shall be available.
What is the Method to Download the AIS Mobile Application?
- Proceed to the Google Play Store
- Type Annual Information Statement (AIS) for Taxpayers in the search option
- Install it now – https://play.google.com/store/apps/details?id=io.lntinfotech.AIStaxpayer
What Does the Term AIS Identify?
The Annual Information Statement, AIS that the assessees made in the financial year shall record all the transactions. During the filing of the Income tax return, the same shall be very helpful. There are additional transaction data comprised in the AIS. There are precise data about money transmitted abroad, like interest rates, dividends, security transactions, and mutual funds.
What Does the Term Form 26AS Identify?
Information on Tax deductions, collected, and PAN is been there in Form 26AS for the financial year. An assessee should secure a tax passbook, 26AS form, and the transaction data in the financial year including their PAN during ITR filing. Proceed to the income tax website to obtain the same. From the e-filing menu bar select the Income tax return. 26AS form could be revealed here.
On the source of TDS, 26AS comprises information, the tax collector’s data (along with self-assessment tax, advance tax, tax refund, yearly information report, high-value transaction, property tax deduction, tax deduction on the high-value amount, and additional tax deductions).
