Taxpayers Can Report Errors Through Annual Information Statement

As tens of millions of taxpayers are busy submitting their annual earnings tax returns, they will now ship a suggestions online to the earnings tax division in case there may be any discrepancy of their transaction historical past, captured within the new e-filing portal.The division on Monday mentioned that the transaction historical past captured within the new complete annual data assertion (AIS) has a facility for online suggestions.  “If the taxpayer feels that the knowledge is wrong, pertains to different individual/12 months, duplicate and so on., a facility has been supplied to submit online suggestions," the division mentioned.  The new AIS will be accessed by clicking on the {link} ‘annual data assertion (AIS)' underneath the ‘providers' tab on the brand new e-filing portal. The show of type 26AS on the division's TRACES portal can even proceed in parallel until the brand new AIS is validated and is totally operational, the division mentioned. It consists of options like extra data regarding curiosity, dividend, securities transactions, mutual fund transactions and international remittance data.