You can now check your Annual Information Statement (AIS) on your mobile, as Income Tax Department has launched a new app for taxpayers. AIS is a comprehensive statement which provides information relating to Tax Deducted at Source (TDS) and Tax Collected at Source (TCS). It is a more detailed statement compared to form 26AS and is a single reference document for taxpayers.
It is always advisable to reconcile your income declared in ITR with AIS to avoid any misreporting of income. It also helps in tax calculation as it displays all information ranging from salary, dividends, interest from saving accounts and deposits, securities and mutual funds transactions, off-market debt transactions, foreign remittance, etc. Earlier taxpayers used to rely solely on Form 26AS, which is also is issued by the Income Tax department and which contains details of the tax deducted from you, advanced tax paid and refunds availed by you. AIS was first rolled out by the Income Tax Department on its portal in November 2021.
To download this app, you need to visit the Play Store and type AIS for taxpayers and download. It is a free mobile application and is launched by the Government of India. One can also provide feedback on the information displayed in AIS. The taxpayers need to verify their email and mobile as per their profile with OTP and they can set 4-digit PIN. “The AIS information is also accessible through the AIS web portal. There is consistency between the data displayed on the mobile app and the web portal. So, the data being displayed on the app and the portal, will be same,” stated in the app description.
Swami Aniruddha, one of the users, wrote on the Playstore, “The app is easy to use & intuitive. But the Registration process with OTPs on Mobile + e-mail ID, needs to be dispensed with. It takes 3 Attempts to Register with Resend OTP Option on both. Bulk OTP Receipt Failure is on G Mail. This App needs to be made compatible with Older Androids 4.0 & above as it doesn't have the option to even download from Play Store whole accessing PS from Android 5.1.1.
Since AIS maps all financial transactions done in the previous year, a taxpayer should refer to it while filing ITR. If one has already filed the ITR and there is some mismatch in income, then the taxpayer should file a revised ITR to avoid getting notices from the department.