Income Tax Return filing : clear your doubts
Income Tax Department has launched a new portal for
online filing of Income Tax Returns in 2021. After initial glitches, the system
is running smoothly now.
Department has further made available a new
transaction history of the assessee named “AIS”. In this section, the financial
transaction data available to department regarding the particular assessee for
a given financial year is brought before the assessee himself beforehand. The
objective is to make the assessee aware of his transactions so that he does not
miss any income to be reported in the return.
AIS consists of two parts – Taxpayer Information
Summary and Annual Information Statement.
Taxpayer Information Summary is a summary statement of
information regarding income , transaction in shares/mutual funds etc.
Before filing return of Income, it is always advisable
to scrutinize the information available in AIS so that no income stays unreported
in the return of income which may entail hefty penalty.
Kindly remember while logging in into Income Tax
portal, after putting PAN as User Id , do Click on the checkbox of “Please
confirm your secure access message” and put password.
Most of the data in the return
form is pre filled. Do check the data and edit if necessary and confirm it only
after verifying the accuracy.
Most importantly, check the
TDS/TCS data available in the pre filled portion of the return and Part B of
AIS. All data regarding TDS/TCS may not be available there. For checking the
accurate TDS/TCS data you need to view 26AS form. Previously it was available
in a hyperlink available from the tax filing portal but now it is not there.
You have to get yourself registered in TRACES portal to view 26AS.
Click here to register in TRACESPortal.
Download form 26AS and edit
the TDS information available in the return and proceed.
Click here to file your return online
