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If taxpayers find mistakes in the financial transactions in their Annual Information Statement (AIS), they have the right to file a report. The tax department will verify the source when you bring up the matter. A notification under the e-verification process may be given…
The Income-tax Department appreciates taxpayers and tax professionals for making compliances in time, leading to a surge in filing of Income-tax Returns (ITRs), resulting in a new record of 8.18 crore ITRs for the A.Y. 2023-2024 filed upto 31.12.2023 as…
The Income Tax Department has launched a Mobile app, namely, ‘AIS for Taxpayer’ to facilitate taxpayers to view their information as available in the Annual Information Statement (AIS) / Taxpayer Information Summary (TIS). ‘AIS for Taxpayer’ is a mobile application…
As many as 68,000 cases have been picked up for e-verification by the income tax department for underreporting of income in tax returns for 2019-20 fiscal, CBDT chief Nitin Gupta said on Monday. Under the e-verification scheme, the I-T department…
The Central Board of Direct Taxes (“CBDT”) issued Frequently Asked Questions (“FAQs”) on the Annual Information Statement (“AIS”). Q-1 What is Annual Information Statement (AIS)? Ans. Annual Information Statement (AIS) is comprehensive view of information for a taxpayer displayed in Form…