{"id":6757,"date":"2024-03-09T08:08:23","date_gmt":"2024-03-09T08:08:23","guid":{"rendered":"https:\/\/www.caindelhiindia.com\/blog\/?p=6757"},"modified":"2024-05-25T06:11:47","modified_gmt":"2024-05-25T06:11:47","slug":"mismatch-in-ais-itr","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/mismatch-in-ais-itr\/","title":{"rendered":"Mismatch in information of A.Y. 2021-22 between AIS &#038; ITR"},"content":{"rendered":"<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6758\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/AIS.jpg\" alt=\"AIS\" width=\"1667\" height=\"938\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/AIS.jpg 1667w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/AIS-300x169.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/AIS-1024x576.jpg 1024w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/AIS-768x432.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/AIS-1536x864.jpg 1536w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/AIS-800x450.jpg 800w\" sizes=\"(max-width: 1667px) 100vw, 1667px\" \/><\/h2>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69db3f80b1053\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69db3f80b1053\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caindelhiindia.com\/blog\/mismatch-in-ais-itr\/#Objectives_of_an_Annual_Information_Statement_AIS\" title=\"Objectives of an Annual Information Statement (AIS)\">Objectives of an Annual Information Statement (AIS)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caindelhiindia.com\/blog\/mismatch-in-ais-itr\/#Annual_Information_Statement_AIS_reportable_Transaction\" title=\"Annual Information Statement (AIS) reportable Transaction\u00a0\">Annual Information Statement (AIS) reportable Transaction\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caindelhiindia.com\/blog\/mismatch-in-ais-itr\/#Mismatch_in_information_pertaining_to_AY_2021-22_between_AIS_ITR_or_Non_filing_ITR\" title=\"Mismatch in information pertaining to A.Y. 2021-22 between AIS &amp; ITR or Non filing ITR\">Mismatch in information pertaining to A.Y. 2021-22 between AIS &amp; ITR or Non filing ITR<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caindelhiindia.com\/blog\/mismatch-in-ais-itr\/#Last_Date_if_ITR\" title=\"Last Date if ITR\u00a0\">Last Date if ITR\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.caindelhiindia.com\/blog\/mismatch-in-ais-itr\/#Mismatch_in_information_between_AIS_ITR\" title=\"Mismatch in information between AIS &amp; ITR \">Mismatch in information between AIS &amp; ITR <\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.caindelhiindia.com\/blog\/mismatch-in-ais-itr\/#Income_Tax_Returns_ITRs_have_not_been_filed\" title=\"Income Tax Returns (ITRs) have not been filed\">Income Tax Returns (ITRs) have not been filed<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.caindelhiindia.com\/blog\/mismatch-in-ais-itr\/#Specified_high-value_financial_transactions_could_include_activities_such_as\" title=\"Specified high-value financial transactions could include activities such as:\">Specified high-value financial transactions could include activities such as:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.caindelhiindia.com\/blog\/mismatch-in-ais-itr\/#Responding_to_notices_for_Annual_Information_Statement_mismatch\" title=\"Responding to notices for Annual Information Statement mismatch\">Responding to notices for Annual Information Statement mismatch<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.caindelhiindia.com\/blog\/mismatch-in-ais-itr\/#The_Central_Board_of_Direct_Taxes_releases_new_functionality_in_Annual_Information_Statement_to_display_the_status_of_feedback_given_by_Taxpayer\" title=\"The Central Board of Direct Taxes releases new functionality in Annual Information Statement to display the status of feedback given by Taxpayer\u00a0\">The Central Board of Direct Taxes releases new functionality in Annual Information Statement to display the status of feedback given by Taxpayer\u00a0<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.caindelhiindia.com\/blog\/mismatch-in-ais-itr\/#List_of_Information_covered_under_Annual_Information_Statement\" title=\"List of Information covered under Annual Information Statement\">List of Information covered under Annual Information Statement<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.caindelhiindia.com\/blog\/mismatch-in-ais-itr\/#Taxpayer_Can_submit_transactions_feedback_in_the_AIS-_Attention_Taxpayers\" title=\"Taxpayer Can submit transactions feedback in the AIS- Attention Taxpayers\u00a0\">Taxpayer Can submit transactions feedback in the AIS- Attention Taxpayers\u00a0<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Objectives_of_an_Annual_Information_Statement_AIS\"><\/span><span style=\"color: #000080;\"><strong>Objectives of an Annual Information Statement (AIS)<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Objectives of an Annual Information Statement (AIS) typically revolve around enhancing transparency, compliance, and effectiveness in tax administration. Here are some common objectives like Improving Taxpayer Compliance, Detecting Tax Evasion, Facilitating Risk Assessment, Promoting Transparency, Enhancing Data Analytics, Supporting Policy Formulation,<\/p>\n<p>The objectives of AIS are aligned with the broader goals of promoting tax compliance, reducing tax evasion, and enhancing the efficiency and fairness of tax administration.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Annual_Information_Statement_AIS_reportable_Transaction\"><\/span><span style=\"color: #000080;\"><strong>Annual Information Statement (AIS) reportable Transaction\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Annual Information Statement (AIS) typically includes a wide range of financial transactions that are reported to tax authorities by various third-party entities. The transactions reported in AIS may vary depending on the jurisdiction and specific regulations, but generally, they cover significant financial activities that can help tax authorities assess taxpayers&#8217; income and tax liabilities accurately. Here are some common types of transactions that may be reported in AIS like Investment Transactions; Bank Transactions; Credit Card Transactions; Loan Transactions: Property Transactions; Insurance Transactions; Salary and Income Details; Foreign Exchange Transactions,<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5868\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/06\/AIS...jpg\" alt=\"AIS..\" width=\"737\" height=\"1055\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/06\/AIS...jpg 737w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/06\/AIS..-210x300.jpg 210w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/06\/AIS..-715x1024.jpg 715w\" sizes=\"(max-width: 737px) 100vw, 737px\" \/><\/p>\n<p>Specific types of transactions reported in AIS and the threshold for reporting may vary depending on the jurisdiction&#8217;s tax laws and regulations. Additionally, not all transactions reported in AIS may be taxable, but they serve as valuable information for tax authorities to assess taxpayers&#8217; overall financial activities and ensure compliance with Income tax Act.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Mismatch_in_information_pertaining_to_AY_2021-22_between_AIS_ITR_or_Non_filing_ITR\"><\/span><span style=\"color: #000080;\"><strong>Mismatch in information pertaining to A.Y. 2021-22 between AIS &amp; ITR or Non filing ITR<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Tax Dept is in the process of sending communication(s) to the taxpayers for income and Transaction mismatch in information pertaining to A.Y. 2021-22 (F.Y. 2020-21) between AIS and ITR or Non filing ITR . Income Tax Department is urging taxpayers to view their AIS through the e-filing portal and file updated ITRs (ITR-U).<\/li>\n<li>It&#8217;s important for taxpayers to promptly address any discrepancies and file their updated ITRs to avoid potential consequences. Tax Dept is encouraging taxpayers to access their AIS via the e-filing portal and subsequently file updated Income Tax Returns (ITR-U) if necessary.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Last_Date_if_ITR\"><\/span><span style=\"color: #000080;\"><strong>Last Date if ITR\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6875\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/UPDATED-ITR-.jpg\" alt=\"ITR UPDATED\" width=\"1080\" height=\"709\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/UPDATED-ITR-.jpg 1080w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/UPDATED-ITR--300x197.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/UPDATED-ITR--1024x672.jpg 1024w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/UPDATED-ITR--768x504.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/UPDATED-ITR--800x525.jpg 800w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Mismatch_in_information_between_AIS_ITR\"><\/span><span style=\"color: #000080;\"><strong>Mismatch in information between AIS &amp; ITR <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>It appears that the Tax Dept is in the process of identifying discrepancies between the information available in the Annual Information Statement &amp; Income tax return filings for AY 2021-22 (FY 2020-21). Taxpayers who have mismatches or have not filed their Income tax return are being urged to take action. This process is essential for ensuring the accuracy and completeness of taxpayers&#8217; financial information as reported to the tax authorities.<\/li>\n<li>Taxpayers need to log in to the e-filing portal provided by the Income Tax Department. Once logged in, they can navigate to the section where they can view their Annual Information Statement (AIS). The Annual Information Statement contains details of various financial transactions reported to the Income Tax Department by third parties, such as banks, financial institutions, employers, etc<\/li>\n<li>Taxpayers should carefully review the information presented in their AIS. They need to ensure that all the reported financial transactions are accurate and consistent with their own records.<\/li>\n<li>If any discrepancies or missing information are identified between the Annual Information Statement and the taxpayer&#8217;s own records or previously filed Income tax returns, Income tax taxpayers should file updated Income Tax Returns using the ITR-U form. The ITR-U form is specifically designed for filing revised returns.<\/li>\n<li>After updating the Income tax return with the correct information, taxpayers need to submit it through the e-filing portal. It&#8217;s crucial to comply with the deadlines set by the Income Tax Dept for filing revised returns.<\/li>\n<li>Income tax taxpayers can ensure that their tax filings accurately reflect their financial transactions and comply with the requirements of the Income Tax Department. This helps to avoid potential penalties or further scrutiny from tax authorities due to discrepancies in the information provided.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Income_Tax_Returns_ITRs_have_not_been_filed\"><\/span><span style=\"color: #000080;\"><strong>Income Tax Returns (ITRs) have not been filed<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>In cases where Income Tax Returns (ITRs) have not been filed, the Income Tax Department may still possess information regarding specified high-value financial transactions. These transactions are typically reported to the department by various third-party entities such as banks, financial institutions, registrar of properties, etc., under the Annual Information Statement (AIS) framework.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Specified_high-value_financial_transactions_could_include_activities_such_as\"><\/span><span style=\"color: #000080;\"><strong>Specified high-value financial transactions could include activities such as:<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Large deposits or withdrawals in bank accounts.<\/li>\n<li>Purchase or sale of immovable property above a certain threshold.<\/li>\n<li>Investment in financial instruments like stocks, mutual funds, bonds, etc., above specified limits.<\/li>\n<li>High-value transactions in credit cards.<\/li>\n<li>Any other financial transactions as specified by the Income Tax Department.<\/li>\n<\/ul>\n<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5967\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/06\/AIS-.jpg\" alt=\"AIS\" width=\"1080\" height=\"677\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/06\/AIS-.jpg 1080w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/06\/AIS--300x188.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/06\/AIS--1024x642.jpg 1024w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/06\/AIS--768x481.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2023\/06\/AIS--800x501.jpg 800w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/h2>\n<p>The department uses this information to cross-verify with the taxpayer&#8217;s declared income and financial activities. If discrepancies are found or if the taxpayer has failed to file their ITRs, the department may initiate further inquiries or audits to ensure compliance with income tax Act 1961.<\/p>\n<p>Tax dept has been focusing on high-value transactions for several years &amp; sending out notices to those whose annual returns do not tally with their spending. However, the Income tax Dept has refused to provide any data on the success that it has achieved in obtaining additional revenue. In the FY 2022-23 (FY23), some 780 million ITR returns were filed, an increase of 6.8 per cent over the 730 million returns filed in FY22<\/p>\n<p>This communication from the Income Tax Department serves as a reminder for taxpayers to fulfill their obligations and ensure accuracy in their tax filings. Failure to address discrepancies or non-filing of Income tax return may lead to further inquiries or penalties from the tax authorities. Therefore, it&#8217;s crucial for taxpayers to ensure that their financial transactions are accurately reported in their ITRs and that they file their returns in a timely manner to avoid any potential scrutiny or penalties from the Income Tax Department.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Responding_to_notices_for_Annual_Information_Statement_mismatch\"><\/span><span style=\"color: #000080;\"><strong>Responding to notices for Annual Information Statement mismatch<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>We can respond to the message in the following manner:<\/p>\n<p>1. Provide Feedback in Annual Information Statement Provide Explanation<\/p>\n<p>2.file Updated Income Tax Return u\/s 139(8A) of the Income Tax Act, 1961, if eligible Feedback in Annual Information Statement can be provided by clicking on the \u201cProvide feedback, if required\u201d hyperlink provided against the \u201c(B) Accepted by Taxpayer\u201d.<\/p>\n<p>3. Once the feedback is provided in Annual Information Statement\u00a0 Value Accepted by Taxpayer &amp; difference value will get updated automatically.<\/p>\n<p>4. Explanation can be provided by clicking on the \u201cProvide Explanation, if required\u201d hyperlink provided against the \u201c(E) Explanation for difference\u201d. Upon providing the explanation the difference value will get updated automatically.<\/p>\n<p>5. In case the response is submitted with some values against \u201c(F) Difference value for which updated Income Tax Return u\/s 139(8A) need to be submit to avoid multiple compliances, if eligible\u201d, then you are expected to furnish an updated return of income u\/s 139(8A) for the difference value.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_Central_Board_of_Direct_Taxes_releases_new_functionality_in_Annual_Information_Statement_to_display_the_status_of_feedback_given_by_Taxpayer\"><\/span><a href=\"https:\/\/carajput.com\/archives\/taxpayers-verify-if-source-reporting-entities-are-acting-on-their.pdf\">The Central Board of Direct Taxes releases new functionality in <em>Annual Information Statement<\/em> to display the status of feedback given by Taxpayer\u00a0<\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h2><span class=\"ez-toc-section\" id=\"List_of_Information_covered_under_Annual_Information_Statement\"><\/span><span style=\"color: #000080;\">List of Information covered under Annual Information Statement<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-7229\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/List-of-Information-covered-under-Annual-Information-Statement.jpg\" alt=\"List of Information covered under Annual Information Statement\" width=\"974\" height=\"1858\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/List-of-Information-covered-under-Annual-Information-Statement.jpg 671w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/List-of-Information-covered-under-Annual-Information-Statement-157x300.jpg 157w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/List-of-Information-covered-under-Annual-Information-Statement-537x1024.jpg 537w\" sizes=\"(max-width: 974px) 100vw, 974px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Taxpayer_Can_submit_transactions_feedback_in_the_AIS-_Attention_Taxpayers\"><\/span><span style=\"color: #000080;\"><strong>Taxpayer Can submit transactions feedback in the AIS- <\/strong><\/span><span style=\"color: #000080;\"><strong>Attention Taxpayers\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7231\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/Attention-Taxpayers-on-Tr-Feedback-on-AIS-.jpg\" alt=\"Attention Taxpayers on Tr Feedback on AIS\" width=\"1280\" height=\"669\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/Attention-Taxpayers-on-Tr-Feedback-on-AIS-.jpg 1280w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/Attention-Taxpayers-on-Tr-Feedback-on-AIS--300x157.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/Attention-Taxpayers-on-Tr-Feedback-on-AIS--1024x535.jpg 1024w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/Attention-Taxpayers-on-Tr-Feedback-on-AIS--768x401.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/03\/Attention-Taxpayers-on-Tr-Feedback-on-AIS--800x418.jpg 800w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><\/p>\n<p>You now have the ability to review your transactions and submit feedback in the Annual Information Statement (AIS). Here&#8217;s how the feedback process works:<\/p>\n<ul>\n<li>Provide feedback on the transactions listed in your AIS.<\/li>\n<li>Your feedback is sent to the source of the information for verification.<\/li>\n<li>The source reviews the feedback and provides details.<\/li>\n<li>If the source confirms that there was an error in the AIS, the necessary corrections will be made.<\/li>\n<li>You can track the status of your feedback and see whether it has been partially accepted, fully accepted, or rejected.<\/li>\n<\/ul>\n<p>This initiative is designed to simplify compliance and enhance services for taxpayers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Objectives of an Annual Information Statement (AIS) Objectives of an Annual Information Statement (AIS) typically revolve around enhancing transparency, compliance, and effectiveness in tax administration. Here are some common objectives like Improving Taxpayer Compliance, Detecting Tax Evasion, Facilitating Risk Assessment, Promoting Transparency, Enhancing Data Analytics, Supporting Policy Formulation, The objectives of AIS are aligned with &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1035],"tags":[878],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/6757"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=6757"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/6757\/revisions"}],"predecessor-version":[{"id":7232,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/6757\/revisions\/7232"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=6757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=6757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=6757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}