In November 2021, the income tax department has launched the AIS. It may happen that you have forgotten to check it before filing ITR. What are the repercussions of not checking AIS before filing ITR? ET Wealth spoke with income tax experts and here is what they have to say.

In 2021, the income tax department launched the Annual Information Statement (AIS). The AIS is a comprehensive statement containing details of all the financial transactions undertaken by you in a financial year (FY). It contains the information that are mandated under the Income-tax Act, 1961.

Individual taxpayers must ensure that the income details in their income tax return (ITR) form matches with that in the AIS. If there is a mismatch, then the income tax department may send you an ..