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Income tax dept tracks these 46 financial transactions of yours via the Annual Information Statement

Income tax dept tracks these 46 financial transactions of yours via the Annual Information Statement

The newly launched Annual Information Statement (AIS) is a comprehensive statement containing details of 46 of
the financial transactions (income, investment, expenditure) undertaken by you in a financial year (FY). Sujit Bangar, Ex-IRS officer and founder, Taxbuddy.com, an ITR filing website, says, "AIS is an information statement. It provides details of all the income received from various sources irrespective of whether tax has been deducted on such income or not. Further, any investments made by you will be reflected in the AIS as well."

Here is a look at 46 financial transactions that reflect in the AIS, as per the income tax website:

1. Salary
AIS will show information about the salary amount paid to you along with the tax deducted, if any. It will show the TAN of employer and PAN of employee. The amount mentioned in the AIS will be gross salary including all exempt allowances. Individual will be required to claim exemption and deductions as applicable while filing income tax return (ITR).

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