How to use Income Tax Department's new real-time feedback updates
The Income Tax Department of India, has announced a new feature in its Annual Information Statement (AIS), that offers taxpayers real-time updates on their feedback status. This innovative functionality, known as the feedback mechanism, enables taxpayers to monitor if their feedback has been addressed by the source. The source has to amend information by filing a correction statement if the feedback is partially or even fully accepted.
New feature offers detailed feedback status updates
The new feature displays several attributes to taxpayers regarding the status of their feedback confirmation from the source. These include whether the feedback has been shared for confirmation, the date it was shared with the reporting source, and when a response was received. The IT Department stated, "This new functionality is expected to increase transparency by displaying such information in AIS to the taxpayer."
Accessing the new feature on the compliance portal
Taxpayers can access this new facility via the compliance portal on the e-filing website. Within the AIS interface, they can monitor their feedback's progress in real-time. To use this feature, taxpayers need to log into the compliance portal using their credentials, head to the AIS section, and search for the feedback feature to monitor their feedback status.
AIS: A comprehensive reference for taxpayers
The AIS contains extensive data regarding taxpayers' incomes, their financial transactions, income-tax proceedings, tax details, and more. For taxpayers, it serves as a single reference document, that can be modified if they believe reported information is incorrect. The Central Board of Direct Taxes (CBDT) stated that this functionality "will display whether the feedback of the taxpayer has been acted upon by the source."
