Hyderabad: The current financial year has reached an end. It's time to take a close look at your income, expenditure and tax liability. Check out your AIS (Annual Information Statement) in the Income Tax Department's portal. The AIS provides complete details of your total income during the year. This will give you greater clarity on how much tax will be payable on income earned in 2022-'23.
Want to know the details of the income received and high-value expenses incurred during the financial year? Just login into the IT Department's portal and get the complete details of your income by looking at the 'Annual Information Statement' (AIS).
Your income through salary, including the Tax Deducted at Source (TDS), is all visible in the AIS report. Details of interest received from bank savings accounts, fixed deposits, recurring deposits and other accounts can also be known. If you invest in shares, details of dividends declared by respective companies are shown.
The AIS also provides details of interest earned on refunds in a previous financial year. The other details include the amount received from government securities and bonds, shares sold in the short term and the profits made thereon, details regarding the registration of immovable properties, profits earned on the sale of units of mutual funds and high-amount cash deposits made in the savings account.
Also Read : Some tax savings schemes derail your financial plans? Take care
You can view the 'Annual Information Statement (AIS)' from the 'Services' tab by logging into the Income Tax Department portal with your details.
Take a look at your report and see if there is any difference in the items recorded in it. In case of errors, complaints can be made to the relevant organizations or the Income Tax Department with adequate evidence.
