Saturday, July 1, 2023

Income Tax Return E Filing for Asst Year 2023-24 Made Easy –Part 4


Filing a revised return for a change in accounting method or disclosure

If you have filed an income tax return with income computed as per the mercantile method of accounting but later realize the need to file a revised return with income computed as per the cash method of accounting, you cannot do so. The option to file a revised return is only available if there is an omission or wrong statement in the original return. A change in the accounting method does not fall under these categories, so you cannot change the method by filing a revised return.

Changing ITR form while filing a revised return

Yes, you can change the ITR form while filing a revised return. The Income-tax Act does not prohibit the filing of a revised return in a different form. If you initially filed ITR-1 and later realize the need to disclose additional income, such as lottery income, you can file a revised return using ITR-2 or the appropriate form for the revised disclosure.

Submitting multiple rectification requests

If you have already filed a rectification request under Section 154 for an error in your processed return and want to raise another rectification request for a different error, you cannot do so until the Income-tax Department processes your previous request. You need to wait for the processing of the previous rectification request before filing a new one.

Furnishing ITR for financial transactions reported in SFT

Filing an Income-tax return is mandatory based on the criteria mentioned in Section 139 of the Income-tax Act. If a person's case does not fall under any of these criteria, they are not required to file a return, even if they have entered into a financial transaction reported in the Statement of Financial Transaction (SFT).

Correcting an invalid return

If your return has been declared invalid, it is considered as if you haven't filed a return at all. In such a case, you can furnish a new return if the time limit for filing the original/belated return has not expired. However, if the time limit has expired, you cannot file a return for that assessment year. The Assessing Officer may proceed to make a best judgment assessment under Section 144. Alternatively, you can approach the Central Board of Direct Taxes (CBDT) to seek condonation of delay in filing the return.

Annual Information Statement (AIS)

The government has expanded the scope of Form 26AS to include information about various transactions made by a person throughout the year. Rule 31AB has been omitted, and a new Rule 114-I has been introduced to upload the Annual Information Statement (AIS) in Form No. 26AS in the registered account of the assessee. The AIS consists of the following information:

·         Information relating to TDS and TCS

·         Information relating to Specified Financial Transactions (SFT)

·         Information relating to the payment of taxes

·         Information relating to demand and refund

·         Information relating to pending proceedings

·         Information relating to completed proceedings

·         Information received from any officer, authority, or body performing any functions under any law or information received under an agreement referred to under section 90 or section 90A or information received from any other person to the extent it may be deemed fit in the interest of the revenue.

All the relevant information available in AIS is automatically pre-filled in the relevant ITR Form.

Can a taxpayer access the information available in the Annual Information Statement (AIS)?

An Assessee can access AIS information by logging into his income-tax e-filing account. If he feels that the information furnished in AIS is incorrect, duplicate, or relates to any other person etc., he can submit his feedback thereon. An assessee can access and respond to AIS information from the income-tax e-filing portal. Alternatively, he can also use an offline utility.

How to access the Annual Information Statement (AIS) online?

·         The following are the steps to access the AIS information online:


Step 1: Log in to the Income-tax e-filing website at If you are a new user, you will be required to first register on the e-filing portal.


Step 2: After log-in, click on Services > Annual Information Statement (AIS)

Step 3: A message shall appear that will prompt you to click on 'proceed' to redirect to the AIS homepage.

Step 4: The next screen provides the instructions relating to the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS). TIS displays the information available in AIS category-wise. It shows the original and revised values (i.e., value processed after the taxpayer's feedback). The revised values in TIS are used for pre-filling of return

Step 5: Click on the next tab of 'AIS'. On the redirected screen, two tiles appear - Taxpayer Information Summary (TIS) and Annual Information Statement (AIS). Select the relevant financial year from the drop-down and click on the AIS tile to view the information.

Step 6: On the next screen, the information available in AIS is displayed in Part A and Part B. Part A contains the general information about a taxpayer (i.e., PAN, Aadhar, Name, Date of Birth, Mobile Number, E-mail Id, and Address). Part B contains the comprehensive information of a taxpayer for the selected financial year as uploaded by the prescribed income-tax authority. The information in Part B is divided into the following categories:

o   TDS/TCS Information

o   SFT Information

o   Payment of Taxes

o   Demand and Refund

o   Other Information


Step 7: The information available in AIS can be downloaded in CSV, JSON, or PDF format. The user will have to download the transactions in CSV format for every category of transaction separately. In contrast, the entire AIS can be downloaded only in PDF or JSON. If you select the PDF format, the downloaded PDF will be password protected. To open the file, you will need to enter the combination of the PAN (in lower case) and the date of birth in case of an individual taxpayer or the date of incorporation/formation for the non-individual taxpayer in the format DDMMYYYY without any space. For example, if the PAN is AAAAA1234A and the date of birth is 21st January 1991, then your password will be aaaaa1234a21011991

What should I do if the information in AIS is not correct or does not belong to me?

·         If a taxpayer feels that the information furnished in AIS is incorrect, duplicate, or relates to any other person, etc., he can submit his feedback thereon. Response to AIS information can be made online directly from the income-tax e-filing portal or offline utility.

How to submit feedback on AIS Information (online)?

Step 1: Visit the Income-tax e-filing portal and access AIS information.

Step 2: On accessing AIS, the assessee will find the comprehensive information for the selected financial year under Part B in the following tabs:

TDS/TCS Information

SFT Information

Payment of Taxes

Demand and Refund

Other Information

Step 3: Click on the relevant tab to view the source-wise information.


Step 4: Click on the left-hand icon to expand the source-wise information to view transaction-level information.

Step 5: Click on the "Optional" tab in the feedback column to provide and submit feedback on the concerned transaction. An assessee can also submit feedback on multiple transactions in bulk. Feedback options include confirming the information is correct, not fully correct, related to another PAN/year, duplicate/included in other information, denied, or providing customized feedback based on the information category. If the transaction relates to an income, an additional option, "Income is not taxable," shall appear in the feedback options drop-down list.

Step 6: Once the feedback is submitted, a success message shall appear indicating that the Taxpayer Information Summary (TIS) will be updated accordingly. Further, the feedback may be shared with an information source for comments/responses. The assessee can download the acknowledgement receipt from the activity history.