Income tax department rolls out new functionality in AIS The income tax department on Monday said it has rolled out a new functionality in the Annual Information Statement (AIS) through which taxpayers will be able to view the status of information confirmation process.

The Central Board of Direct Taxes (CBDT) has introduced a new feature in the Annual Information Statement (AIS) that allows taxpayers to monitor the confirmation process of their financial information reported by various sources.

This enhancement aims to increase transparency by displaying whether the feedback provided by taxpayers on the accuracy of reported transactions has been acknowledged and acted upon by the relevant Source or Reporting Entities.

AIS is populated based on the financial data received from multiple information sources and provides details of a large number of financial transactions undertaken by the taxpayer that may have tax implications.