The Annual Information Statement (AIS) is a detailed document that summarizes your financial transactions for a given financial year.
It includes information on salary, dividends, interest income, sale of securities,
international remittance details and much more, as reported by different entities like SEBI, banks, etc.
The government uses information reported in the AIS to track financial transactions and send targeted communications to taxpayers to ensure compliance.
In this forum, some users have raised concerns mentioning that the information in their AIS does not match their personal records, which in turn results in an intimation from the ITD.
If you believe that the information reported in the AIS is incorrect, you can rectify them by submitting AIS feedback on the Income Tax Portal.
Hereâs a guide on how to submit feedback in AIS.
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Log in to the Income Tax portal.
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Click on AIS, which will redirect you to the Compliance Portal.
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On the Compliance Portal:
Select the relevant financial year and you will see a list of transactions. Find the ones with discrepancy and click on the button in the Feedback column.
You can select any one of the responses below:
- Information is correct
- Income is not taxable
- Information is not fully correct
- Information relates to another PAN/Year
- Information is duplicate/included in other information
- Additional responses will be available based on the information category.
e.g. in case of the purchase of immovable property, an option to provide feedback as âExempt under specific provisionsâ will be available.
Choose the feedback option relevant to your case and submit the same.
In case you select âInformation is not fully correctâ or âInformation relates to another PAN/Yearâ, you will need to provide further details related to the transaction.
What happens after you submit AIS feedback?
After you successfully submit feedback on the information reported in AIS, it may be shared with the reporting entities (SEBI/banks) for verification/comments/responses.
Further, the feedback provided will be displayed along with the original and modified values of the information in your profile.
You will receive a confirmation of feedback submission via email and SMS, and you can also download the acknowledgment receipt for your records.
Let us know if you have any questions!