AIS for Tax payers IT Deptartment Launches App

On November 1, 2021, the Income Tax Department launched a new mobile app for taxpayers called the Annual Information Statement (AIS). As per chartered accountants, the new AIS will provide the taxpayer with details of most digital financial transactions they carry out during a financial year (FY).

The AIS contains more information than what is available in a taxpayer’s Form 26AS, also called a tax passbook. The information ASI provides includes interest, dividend, mutual fund transactions, securities transactions, foreign remittance information, and others collected from various sources. Taxpayers can give feedback on the information displayed in AIS.