Taxpayers can now check in AIS whether their feedback is acted upon by the Source/Reporting Entities
New Functionality in AIS: According to a recent press release by the Ministry of Finance on dated 13th May 2024, the Central Board of Direct Taxes (CBDT) has now introduced a new functionality in AIS to display the status of information confirmation process. This displays whether the feedback of the taxpayer has been acted upon by the Source, by either, partially or fully accepting or rejecting the same.
Access your Annual Information Statement (AIS) hassle-free via the compliance portal on the e-filing website (www.incometax.gov.in). AIS provides a comprehensive overview of your financial transactions with potential tax implications, sourced from various financial entities.
Exciting news is that, the Central Board of Direct Taxes (CBDT) introduced a brand-new feature in AIS, allowing taxpayers to provide feedback on each transaction displayed. Their feedback plays a crucial role in ensuring the accuracy of information provided by the reporting sources. In case of discrepancies, rest assured, the process is automated for reaching out to the sources for confirmation.
Now, the Central Board of Direct Taxes (CBDT) has taken it up a notch by launching a functionality that lets you track the status of your feedback confirmation process. Here’s what you can expect:
1. Feedback Sharing Status: Know whether your feedback has been shared with the reporting source for confirmation or not.
2. Feedback Shared On: Stay updated on the date your feedback was transmitted to the reporting source for confirmation.
3. Source Response Date: Learn when the reporting source responded to your feedback.
4. Source Response: Get insights into the response provided by the source regarding your feedback, whether any corrections are needed or not.
This innovative feature is geared towards enhancing transparency and empowering taxpayers with valuable insights into the status of their feedback. It’s yet another step by the Income Tax Department towards simplifying compliance procedures and providing top-notch taxpayer services.
Don’t miss out on this game-changing functionality in AIS – track your feedback confirmation status effortlessly and stay informed every step of the way!
To Access the related press release by MoF CLICK HERE
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