What is an Annual Information Statement (AIS) ?
Annual Information Statement (AIS) is a report available in the income tax portal that includes all trades made in the capital markets and any interest, dividends, or corporate action benefits received during a specific financial year. FAQs on AIS can be found on the income tax portal (WEB).
What is its use?
The AIS statement provides details of all the investments and income received from various sources. Taxpayers can check all the transactions shown in the AIS and make necessary amends, as this information is vital for filing ITR.
The following may be the reasons for discrepancies in the AIS data and the trading data:
The estimated cost of acquisition for the credit is determined on the best possible available price with the reporting entity. As a result of which, data on the sale/purchase of shares is showing the day’s closing prices rather than the prices at which the sale/purchase was executed.
Visit blog.quicko.com/decoding-the-new-annual-information-statement for more information about AIS.