Taxpayers should check AIS quarterly, report discrepancies: FinMin official
Taxpayers should check their annual information statement every quarter and flag any discrepancies to help curb instances of wrongful HRA deductions, a senior finance ministry official said on Monday.
The income tax department had in November last year rolled out a new Annual Information Statement (AIS) on its portal that provides a comprehensive view of taxpayer information and an option to submit feedback.
It includes additional information related to interest, dividend, securities transactions, mutual fund transactions and foreign remittance information.
"You must keep on checking your AIS not only at the time of return filing, but quarterly. You should check your AIS and (report) if anything wrong is reported so that the other person who is wrongly claiming some kind of benefit should be caught," Joint Secretary in the finance ministry Kamlesh Varshney said at an event here.
He said AIS has played an important role in ensuring voluntary compliance as it provides details of all