AIS Import Process

Zen IT || AIS Import Process

What is the Annual Information Statement (AIS) ?
The Annual Information Statement (AIS) serves as a comprehensive snapshot of a taxpayer's information as displayed in Form 26AS. Taxpayers are afforded the opportunity to furnish feedback regarding the information presented in the AIS. It delineates both the reported value and the adjusted value (i.e., value post-taxpayer feedback consideration) for each section (e.g., TDS, SFT, Other information).
The objectives of the AIS encompass:
  1. Presenting exhaustive information to the taxpayer alongside an online feedback mechanism.
  2. Fostering voluntary compliance and facilitating seamless prefilling of tax returns.
  3. Acting as a deterrent against non-compliance.
What is the Difference between AIS and Form 26AS ?
AIS represents an extension of Form 26AS, offering a more comprehensive depiction of a taxpayer's financial activities. While Form 26AS primarily delineates details concerning property purchases, high-value investments, and TDS/TCS transactions conducted within the financial year, AIS enriches this information by encompassing a broader spectrum. It includes additional details such as earnings from savings accounts, dividends, rental income, transactions involving securities/immovable properties, foreign remittances, interest on deposits, and GST turnover, among others.
Moreover, AIS introduces a valuable feature allowing taxpayers to provide feedback on the transactions reported, thereby enhancing accuracy and transparency. Furthermore, it provides a sophisticated aggregation of transactions on an information source level, a feature also reflected in the Taxpayer Information Summary (TIS).

What are the components of the Annual Information Statement (AIS) ?
The Annual Information Statement (AIS) is structured into two main parts:
  1. PART A - General Information → Part-A encompasses essential details pertaining to the taxpayer, including their PAN, Masked Aadhar Number, Name, Date of Birth/Incorporation/Formation, contact details such as mobile number and email address, as well as the taxpayer's address.
  2. PART B
    1. TDS/TCS Information: This segment provides insights into tax deducted/collected at source, featuring detailed information such as the Information code, Information description, and corresponding value.
    2. SFT Information: Under this section, data received from reporting entities through the Statement of Financial Transactions (SFT) is displayed, including the SFT code, Information description, and associated value.
    3. Payment of Taxes: Detailed information regarding tax payments under various heads, such as Advance Tax and Self-Assessment Tax, is presented here.
    4. Demand and Refund: Taxpayers can access specific details regarding any demands raised and refunds initiated (including Assessment Year and corresponding amount) during the financial year.
    5. ​Other Information: This section provides additional insights derived from various sources, encompassing data related to Annexure II salary, Interest on refund, Outward Foreign Remittance/Purchase of Foreign Currency, etc.
Importing Annual Information Statement (AIS) Details → To import Annual Information Statement (AIS) details into the software, follow these steps:
  1. Navigate to the 'Online Tools' section and select 'Online Activity 2.0' (shortcut: Ctrl + X).
      
  1. Within the Online Activity 2.0 interface, locate and click on the 'AIS Import' Button.
      
  2. A prompt will appear with the message: "Do you want to import AIS Data? (Yes or No)"
  3. Click 'Yes' to proceed with importing AIS details.
      
  1. The software will automatically synchronize and display the complete AIS data on-screen. 
      
  1. Click on the 'Import' button to import all AIS data into relevant income categories.
  2. A confirmation message will display: "This import will overwrite your existing data. Continue? (Yes or No)"
      
  1. Click 'Yes' to confirm and proceed with the import.
      
  1. If there are any Capital Gain/Loss details, they will be exported into the software's Excel template.
      
  1. Complete the Excel template with all necessary information and import the data under the 'Capital Gain' head.
      
By following these steps, you can successfully import AIS details into the software for further processing and analysis.


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