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AIS shows ALL your digital financial transactions that the income tax dept knows about

AIS shows ALL your digital financial transactions that the income tax dept knows about

The Income Tax Department, on November 2, 2021, launched a new statement for taxpayers called the Annual Information Statement (AIS). As per chartered accountants, the new AIS will provide the taxpayer with details of most digital financial transactions carried out by him/her during a financial year (FY).
The AIS contains more information than what is available in a taxpayer's Form 26AS, which is also often called a tax passbook.

Here is all you need to know about AIS and how it is different from Form 26AS.

 

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