CBDT releases new functionality in AIS for taxpayers
This new functionality is expected to increase transparency by displaying such information in AIS to the taxpayer. This is another initiative of the Income Tax Department towards ease of compliance and enhanced taxpayer services.
![CBDT releases new functionality in AIS for taxpayers](https://www.psuconnect.in/sdsdsd/tax5.jpg)
The Central Board of Direct Taxes (CBDT) has now rolled out a new functionality in AIS to display the status of the information confirmation process. This will display, whether the feedback of the taxpayer has been acted upon by the Source, by either, partially or fully accepting or rejecting the same. In case of partial or full acceptance, the information is required to be corrected by filing a correction statement by the Source. The following attributes shall be visible to the taxpayer for the status of Feedback confirmation from Source.
Whether feedback is shared for confirmation: This will let the taxpayer know if the feedback has been shared with the Reporting Source for confirmation or not
Feedback Shared On: This will let the taxpayer know the date on which the feedback has been shared with the Reporting Source for confirmation.
Source Responded On: This will let the taxpayer know the date on which the Reporting Source has responded to the feedback shared with it for confirmation.
Source Response: This will let the taxpayer know the response provided by the Source on the taxpayer's feedback (if any correction is required or not).
Read Also : IndusInd Bank Q1 FY25 results, net profit at 2% YoYThe Annual Information Statement (AIS) is available to all registered Income Taxpayers through the compliance portal, accessible through the e-filing website (www.incometax.gov.in). AIS provides details of a large number of financial transactions undertaken by the taxpayer which may have tax implications.
In AIS, the taxpayer has been provided with the functionality to furnish feedback on every transaction displayed therein. This feedback helps the taxpayer to comment on the accuracy of the information provided by the Source of such information. In case of wrong reporting, the same is taken up with the Source for their confirmation, in an automated manner.
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