Income taxpayers should check this paper every quarter, there will be no problem while filing ITR

If you also pay income tax, you should check the Annual Information Statement (AIS) every quarter. Sometimes taxpayers face problems while filing their Income Tax Return (ITR) due to incorrect information entered in the Annual Information Statement (AIS).

It becomes difficult to correct the incorrect information entered in the AIS at the last minute. Therefore, income taxpayers should check their AIS every quarter. Quarterly check will inform you about any incorrect information in time and give you enough time to correct it before filing the ITR. You can check the AIS online on the official website of the Income Tax Department.

AIS records the details of all financial transactions made by the income tax payer during the financial year. It includes information like interest, dividends, share related transactions, mutual fund transactions and money received in the account from abroad. Apart from this, this statement also contains all the information required under the Income Tax Act, 1961.

More information than Form 26AS

AIS contains more information than Form 26AS. While Form 26AS contains information about property purchases, large investments and TDS/TCS transactions, additional information like savings account interest, dividends, rental income, purchase and sale of securities, money received from abroad and GST turnover is also recorded in AIS.

How to check AIS?

• Visit the official website of the Income Tax Department.
• Log in to your account.
• Click on the ‘Annual Information Statement’ option in the ‘Services’ tab on the e-Filing portal.
• Select the relevant fiscal year.
• The AIS will be displayed in front of you, which you can also download.