The newly launched Annual Information Statement (AIS) is a tool that tells taxpayers what the tax department knows about them. The AIS is a comprehensive statement containing details of all the financial transactions undertaken by you in a financial year (FY), i.e., it contains the information that are specified under the Income-tax Act, 1961.
The AIS contains information related to income earned from various sources such as salary, dividend, interest from savings account, recurring deposits, sale and purchase of equity shares, bonds, mutual funds etc. The statement also contains information related to TDS, TCS and any tax demand or refund.
