AIS (Annual Information Statement) by Income Tax

-



 Income Tax Department has announced a new statement - AIS (Annual Information Statement)

This will give you all details (well almost all!) about YOUR financial transactions during the year.                 

What is AIS (Annual Information Statement)?

You know earlier Income Tax used to give statement 26AS.

AIS is a much detailed one - with many more details included - like your Savings Interest, all Mutual Fund transactions during the year etc.       

Will 26AS be stopped?
May be stopped in coming future. As per the Notification, 26AS will conitue to be operational until AIS become fully operational after getting the feedbacks from the stake holders.

a) Now you can get both 26AS and also AIS.

b) Both put together, Income Tax department knows all your financial transactions.

c) You will find it very easy to know and submit details for your Income Tax returns.     

How to access my AIS?

a) Log in to your Income Tax account at http://incometax.gov.in

b) Go to Services Tab

c) Last option in this tab is the AIS option. 

It will open a new tab with below two options:

a) Left side - Tax Information Summary (TIS)

b) Right side - AIS

Both are the same.  TIS is a summary and AIS is the detailed statement.  You can download both. When you download you get a pdf statement  (There is jpeg option also, but let's stick to PDF now).

PDF will be password protected.

Password is your PAN Number (in CAPITAL) + Date of Birth (DDMMYYYY)

AIS will capture all financial transactions of the previous year listed below :

a) Stocks

b) Insurance

c) Credit Cards

d) Purchase of property

e) Mutual Funds

f) Salary or Business income 

g) Dividends 

h) Interest on SB A/c and Deposits.

The above list is just indicative.  It is your overall financial profile and will getting fine-tuned to include more categories.

Comments

Post a Comment

Popular posts from this blog

How to Pay Income Tax / TDS / TCS Online?

-
Image
Steps to Pay Income Tax / TDS / TCS Online through Income Tax Portal With effect from 01/04/2023 onwards all the income Tax Related payment is to be done through Income Tax Portal only. All the banks have been migrated to the income tax portal from NSDL OLTAS. Tax payment facility will not be available in NSDL OLTAS website from 01/04/2023 onwards.  Tax payers will now be able to pay tax through Income Tax portal with log in to their account as well as without login (directly). It's at their option. So there will not be any confusion while paying Income Tax related payments. It's now been made hassle-free, smooth and fast. There is no much details to be filled while payment of taxes.  To make it even easier and smoother, M.K.CONSULTANCY has explained the procedure for tax payment in details and step by step.  Just follow the below mentioned steps .... Link for payment of Tax :  📌 Go to our website mentioned below. 👇 https://www.mkconsultancy.net Click on the Box shown in the
Read more

HOW TO PAY GST ONLINE - PROCESS

-
Image
PAY YOUR GST ONLINE - STEP BY STEP PROCESS # Remember the 11th Point.   Pay GST online with your net Banking.. Here are the procedure to follow step by Step.  1) Go to https://services.gst.gov.in/services/login 2) Then login with GST USER ID & Password 3) On Dashboard, Click on  CONTINUE TO DASHBOARD  & then  Click on PAY TAX. 4) Select  Any Other Payment  and click on  PROCEED.   5) Then go to  CHALLAN HISTORY  option there (3rd option) 6)  There you will find latest challan created with the amount and validity period 7) Click on CPIN mentioned in blue colour of the respective Challan 8) Select Net Banking or Credit/DebitCard*  Options. - Presently applicable for 10 states in India  ( *Debit Card / Credit Card through Kotak Mahindra Bank Platform,  To know Applicable Transaction Charges  Click here . 9) Select your Bank from the list of Banks Available & Tick Terms & Conditions Apply 10) Click on Make Payment. 11) Afterwards work is yours....Page will redirect to your
Read more

21 essentials to manage your business smoothly

-
Image
    Everybody wants success in their life. How the businessmen get success in their life? Obviously through their business right? Here, I have come up with the essential ideas to manage your business once you have set up your entity.   Every entrepreneur thinks about setting up the business and growth of business through new strategies, mission, vision, marketing ideas, etc: But...Interestingly everybody normally overlook the documentation part, if someone think about to be a perfect, laziness will overlap their discipline.    One more crazy thing is that no proper training is provided to the subordinates regarding the documentation part.    Being an accountant, tax consultant, I have been experiencing this dilemma. One has to search all files, even full office for a small piece of paper. Think about how much productive time will be throw away from our hand. Just imagine what would be the mental status of the person who needs that piece of paper to complete his/her work
Read more