Income Tax Return: Before Filling ITR, Know The Difference Between AIS And 26AS, Difficult Work Will Become Easy

Income Tax Return: Income tax department has released the form for filing returns. You have till 31st July to file income tax return. After this, filing of ITR with penalty will be allowed. On the other hand, if you are going to file ITR, you should know some basic things.

AIS what’s that

The IT Department launched a new Annual Information Fee (AIS) on the Compliance Portal in 2021, which provides taxpayers with information about their financial transactions made during the financial year.

AIS What kind of information is in

It makes it easier for taxpayers to file their returns. Apart from this, it also provides information to taxpayers like tax refund, TDS or TCS, interest, mutual fund transaction, tax payment, share transaction etc. This means you will get all the transaction information under AIS while filing ITR. Taxpayers can access AIS data in PDF, JSON and CSV forms.

form 26 AS what’s that?

Under this, there is complete information about tax deducted, collected and PAN during the financial year. While filing the ITR, the taxpayer should have the details of transactions during the financial year along with tax passbook, 26AS form and PAN.

In this way 26 AS Information under

Under 26AS, there is information about source of tax deduction, information of tax collector along with self assessment tax, advance tax, tax refund, annual information report, high value transaction, tax deduction etc.

AIS How to download

To get AIS data, first login to Income Tax Portal. After this, select AIS under Services section. Now click on the AIS tab on the homepage. Now select the financial year and click on the AIS tile to view the annual information statement.

form 26 AS How to get

First of all go to Income Tax website. After that select e-file menu and select Income Tax Return. Download the form by clicking on ‘View Form 26AS’.