Which types of information are covered in AIS?

Ans. Section 285BB read with Rule 114-I of the Income-tax Rules, 1962 provides that the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) or any person authorised by him shall upload such annual information statement which contains the following information in respect of an assessee for a particular financial year:

a. Information relating to TDS and TCS;

b. Information relating to Specified Financial Transactions (SFT);

c. Information relating to the payment of taxes;

d. Information relating to demand and refund;

e. Information relating to pending proceedings;

f. Information relating to completed proceedings;

g. Information received from any officer, authority, or body performing any functions under any law or information received under an agreement referred under section 90 or section 90A;

h. Information relating to GST return;

i. Foreign remittance information reported in Form 15CC;

j. Information in Annexure-II of the Form 24Q TDS Statement of the last quarter;

k. Information in the ITR of other taxpayers;

l. Interest on Income Tax Refund;

m. Information in Form 61/61A where PAN could be populated;

n. Off Market Transactions Reported by Depository/Registrar and Transfer Agent (RTA);

o. Information about dividends reported by Registrar and Transfer Agent (RTA);

p. Information about the purchase of mutual funds reported by Registrar and Transfer Agent (RTA); and

q. Information received from any other person to the extent it may be deemed fit in the interest of the revenue.

The CBDT has authorised the Director General of Income-tax (Systems) to upload information relating to points (h) to (p) in the AIS within 3 months from the end of the month in which the information is received by him.