Income tax portal government of india

Data pertaining to tax deducted at source (TDS) and the statement of financial transactions (SFT) usually reach the government on 31 May and take 15 or more days to get updated. SFT documents certain high-value transactions carried out in a particular financial year. These include credit card payments, cash deposits other than that in the current account, time deposits, share buybacks, etc., each aggregating to ₹10 lakh or more. “We have seen that taxpayers who file their returns early often find a mismatch in transactions when the TDS data gets updated at the backend. So, it would help if you do not file your ITR before 15 June," said Karan Batra, founder, Charteredclub.com. AIS displays the date till which your data is updated and it would do well to cross-check this data before filing the ITR. Apart from AIS, salaried individuals must wait for their employers to issue Form16 so that the information can be reconciled with Form 26AS and AIS. What to look for in AIS In the last three years, the IT department has made However, experts say taxpayers cannot blindly rely on AIS alone for reporting all incomes and transactions. For one, Futures and Options (F&O) and intra-day trades are not reported in AIS, so you will have to manually check for this data in statements provided by your broker. Second, data on capital gains made from stocks is usually incorrectly reported in the AIS. “As per the T+2 settlement cycle, the share price that NSDL reports is of the second day after t...

Synopsis The income tax department launched an information statement called Annual Information Statement or AIS. It is a comprehensive statement containing details of all the financial transactions such as income, expenses, investments, tax deducted etc. of an individual. Here are the steps to download AIS and check the information in it. Step 5: Select the download Arrow on the AIS box. A pop-up will appear asking you to select the format for downloading AIS. The statement can be downloaded in PDF format and JSON utility. The PDF is password protected. The password to access the downloaded PDF is a combination of your PAN and date of birth. For instance, if your PAN is AAAAA000A and your date of birth is January 1, 1991, the password for the PDF will be AAAAA0000A01011991. Information in AIS AIS is divided into two parts: Part A and Part B. Part A contains general information such as PAN, masked Aadhaar number, name of taxpayer, date of birth etc. Part B contains comprehensive information of TDS, TCS, Specified financial transactions, payment of taxes, tax demand and refund and other information. Also Read: Check for any errors The income tax department in its press release dated November 1, 2021, has asked the taxpayers to check the information available in the AIS. If there is a mismatch in the information, then taxpayers should inform the same to the income tax department. If the mismatch is not informed to the tax department, then it may be assumed that the informatio...

By India Today Web Desk: Recently, the Income Tax Department in India has launched its new e-filing portal, making the tax filing or Income Tax Return (ITR) filing procedure faster and better for the users. Tweeting about the same, the income tax department wrote, "We proudly present to our valued taxpayers, the new e-Filing portal http://incometax.gov.in. Designed with your convenience in mind, the portal offers features to make your e-filing experience smoother, simpler & smarter. You Come First, Always!" From the looks of the page to some features, a lot has changed on the new portal. More options are now available on the e-filing portal. Along with this, many old options have also been changed. So if you're looking to download Form 26AS on the new Income Tax Portal, we've got you covered. Here are some steps to easily download Form 26AS on the new Income Tax Portal. Step 1: Go to the income tax portal https://www.incometax.gov.in/iec/foportal/ and click on log in. Step 2: Log in to your account using your User ID (that is either your PAN or Aadhar Number). Step 3: Click on continue. Step 4: Go to the file section and select the 'Income Tax Returns' option from there. Step 5: After that, select the ‘File Income Tax Return'. Step 6: Click on the ‘View Form 26 AS (Tax Credit)' option. Step 7: After confirming the above option, you will reach the TDS-CPC Portal. Step 8: You must have to agree to the usage and acceptance of the Form. Step 9: Click on proceed and select the ...

After over two-and-a-half months of continuing glitches in the revamped e-filing portal of the Income Tax Department, and its unavailability over the last two days, Finance Ministry officials held two meetings with Infosys MD & CEO Salil Parekh on Monday. Finance Minister Nirmala Sitharaman summoned Parekh — the second meeting in two months — to explain the reasons for the continuing glitches, and has now given Infosys a deadline of September 15 to resolve these. What are the issues? Within hours of its June 7 launch, the portal started to face issues such as inability to generate an OTP for The persisting issues have led to calls by chartered accountants and taxpayers for further extension of filing deadlines. The due date for filing ITR by taxpayers not covered under audit was earlier extended to September 30 from July 31, for tax audit cases to November 30, and for transfer pricing cases to December 31. August 15 was the deadline for issuing quarterly TDS certificates for tax deducted for payments (other than salary such as interest income) for the quarter ended June. The last date of making payment under Don't miss from Explained | How has the government intervened? In June, the morning after the launch, Sitharaman tweeted: “The much-awaited e-filing portal 2.0 was launched last night at 20:45hrs. I see in my TL grievances and glitches. Hope @Infosys & @NandanNilekani will not let down our taxpayers in the quality of service being provided. Ease in compliance for the t...

Synopsis The income tax department launched an information statement called Annual Information Statement or AIS. It is a comprehensive statement containing details of all the financial transactions such as income, expenses, investments, tax deducted etc. of an individual. Here are the steps to download AIS and check the information in it. Step 5: Select the download Arrow on the AIS box. A pop-up will appear asking you to select the format for downloading AIS. The statement can be downloaded in PDF format and JSON utility. The PDF is password protected. The password to access the downloaded PDF is a combination of your PAN and date of birth. For instance, if your PAN is AAAAA000A and your date of birth is January 1, 1991, the password for the PDF will be AAAAA0000A01011991. Information in AIS AIS is divided into two parts: Part A and Part B. Part A contains general information such as PAN, masked Aadhaar number, name of taxpayer, date of birth etc. Part B contains comprehensive information of TDS, TCS, Specified financial transactions, payment of taxes, tax demand and refund and other information. Also Read: Check for any errors The income tax department in its press release dated November 1, 2021, has asked the taxpayers to check the information available in the AIS. If there is a mismatch in the information, then taxpayers should inform the same to the income tax department. If the mismatch is not informed to the tax department, then it may be assumed that the informatio...

By India Today Web Desk: Recently, the Income Tax Department in India has launched its new e-filing portal, making the tax filing or Income Tax Return (ITR) filing procedure faster and better for the users. Tweeting about the same, the income tax department wrote, "We proudly present to our valued taxpayers, the new e-Filing portal http://incometax.gov.in. Designed with your convenience in mind, the portal offers features to make your e-filing experience smoother, simpler & smarter. You Come First, Always!" From the looks of the page to some features, a lot has changed on the new portal. More options are now available on the e-filing portal. Along with this, many old options have also been changed. So if you're looking to download Form 26AS on the new Income Tax Portal, we've got you covered. Here are some steps to easily download Form 26AS on the new Income Tax Portal. Step 1: Go to the income tax portal https://www.incometax.gov.in/iec/foportal/ and click on log in. Step 2: Log in to your account using your User ID (that is either your PAN or Aadhar Number). Step 3: Click on continue. Step 4: Go to the file section and select the 'Income Tax Returns' option from there. Step 5: After that, select the ‘File Income Tax Return'. Step 6: Click on the ‘View Form 26 AS (Tax Credit)' option. Step 7: After confirming the above option, you will reach the TDS-CPC Portal. Step 8: You must have to agree to the usage and acceptance of the Form. Step 9: Click on proceed and select the ...

Data pertaining to tax deducted at source (TDS) and the statement of financial transactions (SFT) usually reach the government on 31 May and take 15 or more days to get updated. SFT documents certain high-value transactions carried out in a particular financial year. These include credit card payments, cash deposits other than that in the current account, time deposits, share buybacks, etc., each aggregating to ₹10 lakh or more. “We have seen that taxpayers who file their returns early often find a mismatch in transactions when the TDS data gets updated at the backend. So, it would help if you do not file your ITR before 15 June," said Karan Batra, founder, Charteredclub.com. AIS displays the date till which your data is updated and it would do well to cross-check this data before filing the ITR. Apart from AIS, salaried individuals must wait for their employers to issue Form16 so that the information can be reconciled with Form 26AS and AIS. What to look for in AIS In the last three years, the IT department has made However, experts say taxpayers cannot blindly rely on AIS alone for reporting all incomes and transactions. For one, Futures and Options (F&O) and intra-day trades are not reported in AIS, so you will have to manually check for this data in statements provided by your broker. Second, data on capital gains made from stocks is usually incorrectly reported in the AIS. “As per the T+2 settlement cycle, the share price that NSDL reports is of the second day after t...

After over two-and-a-half months of continuing glitches in the revamped e-filing portal of the Income Tax Department, and its unavailability over the last two days, Finance Ministry officials held two meetings with Infosys MD & CEO Salil Parekh on Monday. Finance Minister Nirmala Sitharaman summoned Parekh — the second meeting in two months — to explain the reasons for the continuing glitches, and has now given Infosys a deadline of September 15 to resolve these. What are the issues? Within hours of its June 7 launch, the portal started to face issues such as inability to generate an OTP for The persisting issues have led to calls by chartered accountants and taxpayers for further extension of filing deadlines. The due date for filing ITR by taxpayers not covered under audit was earlier extended to September 30 from July 31, for tax audit cases to November 30, and for transfer pricing cases to December 31. August 15 was the deadline for issuing quarterly TDS certificates for tax deducted for payments (other than salary such as interest income) for the quarter ended June. The last date of making payment under Don't miss from Explained | How has the government intervened? In June, the morning after the launch, Sitharaman tweeted: “The much-awaited e-filing portal 2.0 was launched last night at 20:45hrs. I see in my TL grievances and glitches. Hope @Infosys & @NandanNilekani will not let down our taxpayers in the quality of service being provided. Ease in compliance for the t...