Complete Analysis of Annual Information Statement & Taxpayer Information summary
ฝัง
- เผยแพร่เมื่อ 22 ก.ค. 2024
- 📍In this session we have discuss complete analysis of Annual Information Statement and Taxpayer information summary AIS & TIS. AIS is comprehensive view of information for a taxpayer displayed in Form 26AS. Taxpayer can provide feedback on information displayed in AIS. AIS shows both reported value and modified value (i.e. value after considering taxpayer feedback) under each section (i.e. TDS, SFT, Other information).
📍The objectives of AIS are:
• Display complete information to the taxpayer with a facility to capture online feedback
• Promote voluntary compliance and enable seamless prefilling of return
• Deter non-compliance
📍Salient Features of AIS are:
• Inclusion of new information (interest, dividend, securities transactions, mutual fund transactions, foreign remittance information etc.)
• Use of Data Analytics to populate PAN in non-PAN data for inclusion in AIS.
• Deduplication of information and generation of a simplified Taxpayer Information Summary (TIS) for ease of filing return (pre-filling will be enabled in a phased manner).
• Taxpayer will be able to submit online feedback on the information displayed in AIS and also download information in PDF, JSON, CSV file formats.
• AIS Utility will enable taxpayer to view AIS and upload feedback in offline manner.
• AIS Mobile Application will enable taxpayer to view AIS and upload feedback on mobile.
📍Disclaimer:
Annual Information Statement (AIS) includes information presently available with Income Tax Department. There may be other transactions relating to the taxpayer which are not presently displayed in Annual Information Statement (AIS). Taxpayer is expected to check all related information and report complete and accurate information in the Income Tax Return. At 34:41 reporting is only required if bank account open without furnishing PAN.
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Cheers Folks
Thanks for Watching :)
Team Fintaxpro
⏰Time Stamp of Video
0:00 Intro to AIS & TIS
1:35 How to view and download AIS
2:46 What is Annual information statement AIS
3:40 Impact of AIS on Income
4:47 Overview of AIS Form
5:04 TDS information in AIS
5:16 Difference in Form AIS & Form 26AS
5:58 SFT information in AIS
6:31 Payment of Tax in AIS
7:02 Other information in AIS
12:05 How to amend or change Form AIS
17:02 JSON Utility for AIS
17:56 Overview of Taxpayer information summary TIS
20:57 AIS information category
34:41 Bank Balance in Form AIS
37:45 Outro
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Disclaimer- Although all provisions, notifications, updates, and live demos are analyzed in-depth by our team before presenting to the public. We hereby provide our point of view only and tax matters are always subject to frequent changes hence advisory is only for the benefit of the general public. Hence neither Fintaxpro Advisory LLP nor its designated partner is liable for any consequence that arises on the basis of TH-cam videos.
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🔗Download AIS User Guide - bit.ly/3GNUXfM
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📍For query related to course please contact below
📩 info@fintaxpro.in
📞8368741773
@CA Guru Ji Sir I have done p2p transections on cryptocurrency exchanges, 8 lakhs Rupees is now in my credits amount in two saving banks, it is the same money I invested through p2p transections from my salary income with little gain. Can I claim presumptive taxation on all gross receipts in my bank, all transactions are below 50000 and even less. It is impossible to prepare balance sheet for such transections as crypto exchange don't provide much data expect p2p report. I can claim 10% or more profit. Am I eligible for it as a government employee?
your video about the AIS is TIS so simple ... Thanks.
I watched the video of ITR-2 about the sec.111 and 112A , the detailed excplanation is excellent.
very good introduction of AIS & TIS & relation with 26AS. thanks so much for video
Glad you like it
Best information and knowledge for all assessee.
Lot of thanks sir for this very detailed feedback on AIS good wishes 11/12/2021
i have become your fan after watching a video on how to file itr in new portal.
very helpful since its new process for all of us.
Very Nice giving valuable information by you thank you sir.
Very important information given us. Thank you for the same.
Always welcome
Explained very beautifully sir.very well interpreted.
Very helpful information Sir. Thanks a lot !!!!
Most welcome
Very much informative.
Thank you sir.
Glad you like it
Very informative video... Detailed understanding
Glad you like it
Very Good. Nice explanation. Thanks
Always welcome
Good video and information . Thanks 🙏
Very clear and useful video.
Thanks for giving useful information
Excellent presentation.
Sir ais me saving account me intrest jyada shaw ho rha hai.kya yh finecial year 20-21 ka hi hai ki kai salo ko jod diya gya hai.
Very nice and informative presentation. Thanks
Glad you like it
wonderful, very nicely explained
Many many thanks for the new update.
Glad you like it
Sir,excellent explained by u and request for making a video on ITR2 online filling using AIS /TIS data for MF & Securities only.
Thank u sir ap bahut ache se samjhate ho
Glad you like it
Thank you very much for the reply
sir mere ais me 72000 deposite ka int dikh raha hai jo ki mujhe int 10/2021 me credit hua hai to kya ay 2021-22 me dikhana padega ya AY2022-23 me dikhana hai
I am filing ITR2 as a retd person .In salary I received an amount towards contract job done in an autonomous body which is clasified as 194J.I have filed ITR under salary other under 17(1).whether it is correct?
VERY GOOD THANKS. One point i want to know i have filed IT for FY 20 21 - 3 Months back and yet to get the final confirmation. when i filed AIS was not there. Now if there is a small difference also will they come back ? Thanks Should i again see and make correction if any ?
Sir one query. shares of one company (Vedanta Ltd)were tendered/ offered for buy back by me (and by all shareholders)as company was to be delisted from stock exchange but delisting failed. It was unsuccessful so they returned back same shares to again to demat account. But In AIS it is shown as purchase of security. Now what feed back to be given. Actually it is not purchase it is returned back case.
Please guide
Thanks for the update
Always welcome
so ITR to be filed based on TIS right?
[after checking if the details are all correct]
Thank a lot 👍 it is great information.
Glad you like it
Thank you sir.
I made a gift deed to my daughter and transferred a residential flat, and made her co-owner. AIS shows 'Sale of immovable property'. SFT-012 Code. And asking to include this info filing ITR. What will be an appropriate feedback for it from drop down? Is 'Transfer is not in nature of Sale' correct? Will it be enough to convey that it is not taxable because it is a gift deed?
Very informative. Keep it up
Glad you like it.
Thanks
How to add a missing transaction in AIS. In my case I have done 3 transactions on shares but AIS shows only 2. There doesn't seem to be an option to add a transaction there! How to rectify this error?
Thank you sir 🙏
Interest income of 39800/- charged on my CC account is showing in AIS as income from other sources but it is an expense. What should I do?
There is a section “off market credit/debit transactions” in AIS. Do we have to report these in ITR2?
If you are doing day trading then this information will expose your day trading transaction to income tax department!
You can't hide your day trading income.
Very good explanation tqqq
Very nice information sir
Very informative video,
But my as far as sale of mutual fund units are concerned my TIS is showing total sale but do I have to enter my capital gains my self or it will auto populate itself?
the section "accumulated balance of PF", is it become taxable?
Informative Video ....
Glad you like it sir
Amazing explaination Sir..
Glad you like it
HELLO SIR
I HAVE FOLLOWING ISSUES IN TIS REPORT
RS.332000 SHOWN IN SFT016 PART SFT REPORTED ,PROCEED AND DERIVED VALUES ARE SAME
BUT BELOW RS.159000 SHOWS IN PART TDS/TCS REPORTED. VALUE SHOWS RS.159000 AND PROCEED AND DERIVED VALUE SHOWN NIL
SO THE TIS SUMMARY SHOWS OF RS.332000 BUT AS PER 26AS ACTUAL TDS IS RS.159000.
ALL INTERESTS ON FD RS.332000 DATES ARE SHOWN AS ON 18.6.21 AND THE ACCOUNT NUMBER OF SUCH FD'S ARE NOT MINE.
SO, PLEASE CLARIFY HOW TO CORRECT MY AIS
THANKS
Sir income tax ki new site pr 15ca cancel kr skte hain ??
Very useful information.
Glad you like it
Sir all video are awesome&informative.Phil hal e-compaign ke tahat taxpayers ko non filing of itr compliance portal parse compulsary feedback bhejane ke liye sms bheje gaye hai badme itr to file kar diya but sir AIS me reflect bank related entries and bank ke TDs certificate ki entry crosschecking ke time multiple entry same nahi hai but confusing hai so information is correct ka feedback bhejnese section 147/148 ke under fir se notice aayega ya feedback na bhejnese.you are requested to guide path.hoping to favoured.thanks
Sir In My TIS sale of securities & units of mutual funds me 15L & purchase of securities & units of mutual funds m 5L show kr rha h.. There is a difference of 10L. But itni to meri income hui v nhi h.. Income to bahut less h.. Same applies to Off market transactions as well.. 🥺😐 What to do now.. Also ye off market transactions kya h smjha nhi achhe se..
Off market m IPO cover hote hai.
Rest aap apni income demat report se calculate kijiye instead of AIS
Sir, on 25.06.2022, I tried to download AIS. I got message that my AIS will be sent through E-mail. However TIS is downloaded from IT SITE. WHEN I am expected to receive AIS ?? Or there is any alternate to download AIS.
Sir,please reply.
Hi sir, share transactions it's showing different in demat provider statement and AIS it's different which says it's from nsdl. I am fine with anything as difference is not much.. If there is mismatch which one is final.. Thanks for all your efforts..
Very well explained sir...jai hind 🙏🙏🙏
Glad you like it.
Jai Hind
Thanks
I am a resident, individual senior citizen. I filed my ITR for FY 2020-2021, AY 2021-2022 on 26th October, 2021 on the basis of Form No. 26AS, that was processed on 5th November, 2021 and an Intimation u/s 143(1) was sent to me. However, with the introduction of AIS w.e.f. 1st November, 2021, and while reviewing my AIS on 7th November, 2021, I noticed that a couple of entries on account of Interest credited in my Savings Bank A/c were left out owing to the fact that the passbook was not updated due to frequent lockdowns & restrictions imposed on movement of people, during the period, and also due to my own indisposition and inability to move around much subsequently, to get my passbook updated, because of chronic knee-problem. So, I calculated SB Interest on the basis of whatever entries were available in the passbook at the time, and included it as part of my income accordingly, while filing my ITR.
Now, given the above background to my case, am I or am I not required, or should I or should I not re-file/re-submit my ITR to pay the balance Tax payable, in accordance with the Income Tax Rules, 1961 currently in vogue, and as amended from time to time ??? I mean, is it absolutely, necessary for me to re-file/re-submit my ITR so as to avoid payment of any Interest on balance tax + penalty etc. with a view a view to keep my record straight & clean, as hitherto ???
As far as I can understand, the question of payment of any amount whatsoever, on account of Interest on balance tax payable, and/or penalty etc. should not arise in this case, as the last date for filing of ITRs has already been extended up to 31st December, 2021, by the ITD, should I choose/decide to re-file/re-submit my ITR
suo moto, and well before, or within the stipulated date i.e. 31st December, 2021.
Grateful for an appropriate advice, urgently.
Dear Sood Ji,
You should revise you ITR and pay the balance tax, if any.
There is no question of late fee since due date is yet to come
@@FinTaxPro Thank you Ji, for your prompt response that I appreciate very much.
Please advise me on the following Dividend Payouts pertaining to the earlier Financial Years/Assessment Years (when the Dividend income was exempt u/s 10(34) but, were actually paid to me in the subsequent Financial Year 2020-2021, AY 2021-2022, and also how to account for, these Dividend Incomes, and in which Financial Year/Assessment Year as all these Dividend Payments have been included/reflected in my Form No.26AS and Annual Information Statement (AIS) for FY 2020-2021, AY 2021-2021 :
1. A Dividend Payment of
₹ 73,080.00 from one Indian company, actually, pertaining to the FY 2019-2020, AY 2020-2021 but, paid to me in September, 2020 after TDS of
₹ 5,481.00 that was deposited in Government treasury on 6th October, 2020.
2. A Dividend Payment of
₹ 337.50 from another Indian company, actually, pertaining to the FY 2018-2019, AY 2019-2020 but, paid to me on 27th May, 2020 - No TDS applied. Another Dividend Payment of ₹ 337.50 by the same Indian company, actually, pertaining to the FY 2019-2020, AY 2020-2021 but, paid to me on 31st August, 2020 - No TDS applied. Total Dividend Payment: ₹ 675.00.
3. A Dividend Payment of
₹ 3,000.00 from a third Indian company, actually, pertaining to the FY 2019-2020, AY 2020-2021 but, paid to me on 28th July, 2020 - No TDS applied ???
Now, My specific query/question is, how exactly, am I required to account for, all these Dividend Incomes - Should I include these Dividend Incomes in the respective FY/AY which they actually, relate/pertain to, by showing them under ‘Exempt Income’ (since all such Dividend Incomes were eligible to be treated as Exempt from Income Tax, in the hands of the investors/shareholders before 1st April, 2020) and also by ‘revising the ITR’ if need be, for the relevant FY/AY and ‘excluding’ these Dividend Incomes from the FY 2020-2021, 2021-2022 which these have been included/reflected in ???? Or, I should leave all these Dividend Payments as it is, and include these to account for, only in the FY 2020-2021, AY 2021-2022 which these have been shown/reflected in, at present ???
Also, whether or not, I should include any Dividend Payment(s) made to me in the FY 2020-2021, AY 2021-2022, even of an amount of less than ₹ 5,000.00 on which No TDS was applied, while filing or re-filing/re-submitting my ITR for FY 2020-2021, AY 2021-2022 ???
Grateful, for early clarification in this regard, too.
@@ypsood99 please share once you have figured out a solution, for it will benefit others too.... thanks
@@ypsood99 Dividend paid to you in the Year 2020-21 has to be reported and you have to pay tax on that. If any income reflecting in AIS but it does not beongs to you or it is wrong then you have to raise givances on portal.
th-cam.com/video/mtscAgLyUAc/w-d-xo.html
@@ypsood99 You clearly mentioned your doubts,where we do not know how to ask questions!. Very helpful. Have you solved your problems?.
Sir
In this AIS options trading transaction are showing or not?
Old huf me date of incorporation 01-01-0001 dekha raha hai
But pan+01010001 se open nhi ho raha ais aur tis please help
If there is no rent received record, can I add it here?
Brilliant sir
I purchased property and paid TDS but the TIS is showing double the amount of purchased property value. What to do. Plz reply.
I purchased house in society at talegaon for 40 lac in 2012. Due to incomplete project and builder not responding, I had to sell the flat at discounted price of 28 lac in 2021 though the value as per ready reckoner was 76 lac. Govt applied stamp duty considering 76 lac cost and same is appearing as processed value in AIS. This is resulting into huge capital gain tax, though I lost 12 lac in this deed.
I applied for correction in processed value and based on my feed back, amount appearing as processed and derived value in tax information system which is a summary under ASI information are 76 lac and 28 lac respectively.
As per circular from IT department, tax return form will be pre filled with derived value, but it is not happening. Also 26AS shows 76 lac as processed value.
I will like to know whether derived sale value of 28 lac, mentioned in TIS, will be taken for capital gain calculations by IT ?
Very informative..
Glad you like it
Sir my fd interst income in form 26 AS is 84000/- but in AIS showing 116000/- thousand which income I should show in itr plese reply
BEAUTIFULLY EXPLAINED EVERY ASPECT OF TIS AND TIS.
Valuable information
Glad you like it
sir, TIS and AIS is applicable only in the case of assesees of annual income Rs. 50 lakhs and above?
This year ( AY2021-22) i have filed return and got the refund also, so i need not check or verify my AIS and TIS. ?
tis,ais are applicable to all.First check tis and then match your income and then file your return.
Very Nice and Layman friendly Analysis of AIS & TIS. Regarding Section 4.48 (Balance in account), the Balance of the Accounts (Where PAN No. is not submitted) may be required to be reported. That is what I think. If you wish to open a Savings Account but donot have a PAN No., the Bank asks you to submit Form 60. Balance Information of such accounts may be required to be reported and not all accounts. What you think, Sir?
You are Right Uday.
Thanks for the valuable feedback.
Very helpful sir
Glad it help
Pls advise how to show Post office TD / NSC / MIS interest
Amazing Sir...As always..
Glad you like it
@@FinTaxProSir, you don't know how beautifully you explain everytime...
AIS is showing only the total purchase & the total sale value of my securities of FY2020-2021. It did not take the previous year holding as opening purchase balance. However captured the total of all the sale values (Sale of previous years purchased equities + Sale of FY2020-2021purchased equities) which shows huge difference between my actual capital gain, which is wrong and confusing. Also the CDSL sale values of equities are not matching to my brokers Tax P&L Statement. Is that really a matter of concern on filing the ITR ?
You can follow your demat account reports if they are correct you just need to follow your demat account capital gain report or pnl report the AIS is only just for the information purpose if your data is not correct in you can change the data otherwise you can file the idea on the basis of your tax report and capital gain report.
@@FinTaxPro Thank you so much
Dear sir
I've filed my itr1 on 09/09/21 and which is already processed.
But now as per AIS, there are some capital gains from mutual funds which I forgot to show in my return.
Now I want to revise my ITR. Is it possible to revise that processed ITR?
Yes you can revise return.
Thanks sir
Welcome
very niee information sir
Glad you like it
Where do we find self assessment tax deposited by me
Very informative video sir.
Can i file revised itr as per AIS without submitting feedback in AIS or is it compulsory to give feedback? My AIS shows some extra SFT 016 (TD) interest which I want to add.
No it is optional to give feedback.
And for ITR you should revise and include interest income
Nicely explained
Glad you like it
Good👍
Hello I have query in my 26 AS there is no info regarding my post office fd interest and saving interest. So I filed return previously but checked the AIS now I showed post office fd and saving bank interest more than showed in AIS. So should I revise ITR with AIS interest income. I am hesitant as I showed more income than shown in AIS. And the difference is huge. Please guide me.
There is no big issue if you over report your income. However on safer side you may revise the return.
Tania aggarwal ji aap kapost office ka interest show ho raha h ais m kya?
@@anilthakral2789 I am so sorry for late reply. Yes mera post office interest is showing in AIS.
Hi. Your video is very informative. I have a query. I am a salaried person, having some capital gains, plus I received Royalty on the scientific books. I would like to claim 80qqb deduction. Which ITR form should I file?
ITR 3
Balance tou bank ke loan account main bhi hoga.
Hi Sir, One Salaried (unknown to me) misused my PAN no for HRA Purpose. It showed to me in AIS as rent received. But actually, I didn't receive any rent. What I should do at the time of filing ITR. Because of this rent it shows me to pay extra Tax.
you should be able to report somewhere..chk if any option.
sir please answer
when i go to AIS portal they were showing me your data is not available
what to do
😭😭😭😭
Sir, What is 'Off market credit transaction? This is shown in TIS. Can I report the income from Off market credit transaction in short term capital gain?. Required ITR is 2 or 3 ?.
Same query pls guide
Sir, my ITR1 has been already processed. Is it required to file revised return
If there is no effect in ITR due to AIS, then no need to revise return
Sir, in my AIS the total FD interst shown is Rs479000/-but actual Interest received(accured) is about Rs. 338000/-.When I Checked The details given in as per bank total Rs 338000/-.I also verified 26AS it shows 338000/-.How I Correct (in utility) the above statement. Please guide me.
Hello sir. Your video is very informative and helpful. I have another issue. There are 2 dividend entry which are not reflected in my AIS. Can I add those manually in AIS? In addition, two of my bank interest amount is not reflected in AIS. Can I also add them manually in AIS?
1&2.Reporting in AIS not possible.Report in ITR 2.
Awasthi ji : Good job.
A lot of CA's don't know how to deal with taxation of T-Bills. Do you have any client that has made transaction in T-BILLS?
If yes can you please share AIS details without divulging his credentials?
Please confirm.
Thnxxxxxxx
Sir AIS me Rent Recd. Dikha Raha hai, Jabki
Tenant to Vacate kar Chuka 2 years Pehle hi,
Kya Karna Chahiye .
Plz reply.
@@avidreader100 Thanks Sir
How to add missing data in AIS??
Sir from where can we download AIS Handbook please help or please share the link. Thanks!
Link is in the description
Sir mera ais mai salary ke income aa rahi hai ha jab ke meri kio tds return nahi jati hai
Aap normally bank se check kar k Return file kar sakte hai aapke AIS m nahi aayegi Salary
Hi SIr nice video, I am getting below screen while checking out on AIS: Can you please me hoe to resolve this
:The origin closed the connection. We can't connect to the server for this app or website at this time. There might be too much traffic or a configuration error. Try again later, or contact the app or website owner.
If you provide content to customers through CloudFront, you can find steps to troubleshoot and help prevent this error by reviewing the CloudFront documentation."
Please check after some time there might be some connection issue
Hello sir
If AIS and form 26as shows 'NO TRANSACTION FOUND' against a PAN does that mean person has NO INCOME in that financial year.? Kindly share your opinion sir🙏
IT only means that the income is below the basic exemption limit! It could be income nil OR income less than basic exemption limit.
Is there a final date in the case of HRA for the financial year 2020-21? Let's say that you confirm or do not confirm in the feedback section 'Information is correct' - Will this information be available going forward [after 31st March] so that the house owner can edit/share the feedback anytime?
Your hra should be mentioned in your ITR.
The house owner will submit his relevant form26Q as per deadline.If he does not it's not your fault.
If you have reported your hra that information will be available to Department but since counterparty Pan is not available he may get away.
Is interest included in the refund amount? And what percentage of interest is calculated?
Yes refund was including refund.
Rate 0.5% per month
How do you treat followings
House rent not reported
Capital gain received on preference shares not reported
Saving bank interest not reported
All exempt income, PPF int., int on tax free bonds, Matured LIC policy.,, inherited pf income.Lic annuity income.
Thank you for the video I have this doubt. TIS is showing the Sale value for Equity shares . this is OK. TIS is showing the purchase value also for equity shares. Doubt is this purchase value is exactly for the sale of equity made Or is it for all the Purchase of equities made. I would have sold equity shares bought last year also . So what they show as purchase amount of equity share is all the purchase made or just the purchase amount of the equity sold.. Thanks
Dear Gautam,
Purchase will include the whole year purchase and it might include those purchase also which you have sold, in case shares are buy and sell in same year.
Very nice information sir 👍
Sir please give your valuable suggestions regarding AIS in which more stocks are not showing,only 100stocks are showing for which I have given feedback due wrong entry.
Sir
If information is not available in AIS , the question of providing feedback doesn't arise.
The stocks which are not mentioned in AIS , income from such stocks should be included in ITR.
We have purchased arum, egg, potatoes , have I to mention in ITR ?
You need to mention details in accounts then from finacial statement data will be enter in ITR.