ITR filing: How to rectify information reported in AIS?

Before filing an income tax return for FY 2021-22, one should view the Annual Information Statment (AIS) as it provides extensive financial information about the taxpayer. It is an extension of Form 26AS. It covers Form 26AS details and also includes non-TDS financial details like dividend, savings account interest, interest on deposits, rent received, foreign remittances, purchase and sale transactions of securities/immovable properties, foreign remittances, etc.

As a taxpayer, there may be situations where the information sources wrongly report certain information to the income tax department, which reflects in the AIS. For example, there may be duplicate entries, incorrect information, information that does not pertain to the taxpayer, etc. The taxpayers can deal with such situations by giving online feedback for the transactions displayed in AIS. 

How to rectify errors in the Annual Information Statement (AIS)?

You can give online feedback if you notice any errors in your AIS. Follow these steps to make corrections to the information reported in AIS:

• Log in to your income e-filing account.
• Go to the ‘Services’ tab, and click on ‘Annual Information Statement (AIS)’.
• It will redirect you to the AIS Dashboard.
• Under the ‘AIS’ tab, click on the Annual Information Statement (AIS).
• The AIS information is divided into two parts: Part A and Part B.
• Part A contains General Information of the taxpayer like PAN, name, mobile number, email address, date of birth, Aadhaar number, address, etc.
• Part B is categorised into TDS/TCS Information, Specified Financial Transactions (SFT) Information, payments of taxes, demands and refunds, and other information.
• You can give feedback for the information displayed in Part B -TDS/TCS Information, SFT Information or Other information.
• Expand the information category to see the details. Under the feedback column, click on the ‘Optional’ button for the relevant information for which feedback needs to be given.
• Now add feedback by selecting the appropriate ‘feedback type’ as mentioned below.

1. Information is correct 

If the information pertains to you and all the data displayed is correct.

2. Information is not fully correct 

If the information pertains to you, but all the attributes of the information are incorrect. You can select this option and update the correct data of the relevant fields like- Account number, Information value, etc. 

3. The Information relates to other PAN/year 

If the information belongs to another person or another year, e.g. joint ownership of property or receiving of the mentioned amount in another year. 

4. Information is a duplicate/included in other information 

If the information is already included in another or duplicate information. 

5. Information is denied 

If the information does not belong to you.

Once you select your feedback type, click on ‘Submit’. On successfully submitting the feedback on AIS information, it will be displayed with the information, and the modified value of the information will be visible with the value reported by the information source.

For any clarifications/feedback on the topic, please contact the writer at namita.shah@clear.in