Annual Information System – Mobile Application and its uses.
The Income Tax Department has recently developed something new and very interesting for taxpayers. When almost every business can be found online on a mobile application, the Income-tax Department also launched its mobile application for taxpayers.
About the App
This newly launched mobile app is all about the “Annual Information Statement (AIS)” which is already available at Income Tax Compliance Portal on the website and can also be accessible through the mobile application.
Annual Information Statement
An annual Information Statement (AIS) is a comprehensive view of information for a taxpayer like Salary Income, Dividend Income, Purchase and Sale of Securities, and all other Incomes of a person as reported by Reporting entity. The taxpayer has the option to provide feedback on the information displayed in AIS. AIS shows both reported value and modified value (i.e., the value after considering taxpayer feedback) under each section (i.e., TDS, SFT, and Other information).
Available Information of Annual Information Statement
• Interest Income
• Salary Income
• Dividend Income
• Sale and Purchase of Securities
• Tax Payments of assessee including Self-assessment tax and Advance tax
• Income Tax Refunds
• Turnover of GST as per GSTR-3B
• Foreign remittances
The name of the application launched is “AIS for Taxpayers” to view the AIS information on any mobile application where taxpayers can access all its information via their mobile app only just by simply Registering themselves with Permanent Account Number (PAN) and verifying it with OTP (one-time password) on the registered mobile number and email ID.
Use of Information at AIS Mobile App
The information available at the AIS application would be useful for the taxpayer for regular access to the information about Incomes, TDS, and other several transactions. While filing Tax returns, this information can be used to verify and identify the correct income. A taxpayer can also cross-check the information with other supporting’s like a bank account, Books of Accounts, and Other records.
Key features of the app “AIS for Taxpayer”
The main key feature of the application is the feature of feedback. Taxpayers can provide feedback on the available information in the app. For example, a taxpayer may find that certain information provided by the AIS app does not pertain to him, so in that circumstance, he can provide feedback about incorrect information.
How to download the app
The “AIS for Taxpayer” application can be downloaded from the Google play store on your android device or from the Apple app store on your iPhone.