Maximizing Tax Reporting with AIS Changes


The Annual Information Statement (AIS) serves as a comprehensive record depicting an individual’s tax contributions over a given fiscal year.  Sometimes, the tax you paid when filing your Income Tax Return (ITR) doesn’t show up correctly in the AIS.

  • This happens because the tax department changed how they show tax payments to people.
  • Before, all tax payments were in Form 26AS, a big tax summary. Now, only certain taxes are in Form 26AS.
  • Self-assessment tax and advance tax payments now appear in the AIS.
  • This means when you file your ITR, you need to check both Form 26AS and AIS to know your total tax.
  • Just so you know, the self-assessment tax you pay while filing your ITR should be in the same year’s AIS.
  • But some people see their Annual Information Statement not showing the tax they paid. It can be confusing.
  • To fix this, you need to look at the AIS for the year you filed your ITR. For example, if you paid self-assessment tax for FY 2022-23, check if the Annual Information Statement for that year shows it.
  • Changes in how taxes are shown have made things confusing. Earlier, Form 26AS had all the tax payment details for the year. Now, self-assessment tax payments made in one year show up in the AIS of the next year.
  • This happens because Annual Information Statement looks at when you paid, not the year the payment is for. For instance, if you paid tax for 2022-23 in July 2023, it’s in the AIS for 2023-24.
  • Experts say this isn’t a big problem, just an adjustment. They suggest the government should put all the same year’s tax info in one AIS to avoid confusion.
  • Don’t worry too much, though. You can fix this by checking two things when filing your ITR: First, look at next year’s AIS to make sure self-assessment and advance tax details are right. Second, see Form 26AS for the right year to check TDS and TCS details.
  • As long as the payment details match your ITR, the tax will be credited correctly, no matter the year on the challan.
  • If your tax details are missing from both last year’s and this year’s AIS, it might be because of a mistake when specifying the assessment year during payment.
  • To fix this, go to the income tax office nearby.
  • In the end, even though changes caused confusion, you can make sure your tax payments are right by carefully checking AIS and Form 26AS and putting the correct info in your ITR.

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