The Annual Information Statement, or AIS, is one of the most important documents linked to income tax in India. It contains a complete summary of your financial activities, including salary, crypto, and other investments, TDS, interest income, and more. Since it reflects information reported by banks, employers, and other institutions, even a small error here can cause serious problems while filing your return.
Incorrect details in AIS may lead to mismatched income reporting, delays in refunds, or even tax notices from the Income Tax Department. This is why checking your AIS before filing and correcting errors, if any, is a step every taxpayer should take seriously. In this guide, we will explain how to identify mistakes in AIS, raise correction requests, and make sure your return matches the records with the department.
Why Should You Verify AIS Before Filing?
Checking the AIS before filing prevents errors that can lead to penalties, reassessments, or delayed refunds. It also helps reduce the chances of receiving tax notices, keeping your compliance record strong. Here’s why you must verify AIS:
Avoiding Penalties and Reassessments
When AIS information does not match the details in your return, the Income Tax Department may treat it as under-reporting or misreporting. This can lead to penalties or reassessment proceedings, creating unnecessary stress for the taxpayer. Verifying ensures that these risks are eliminated early.
Ensuring Accurate Refunds
Discrepancies in AIS often result in refund delays because the system holds back claims until figures are reconciled. By checking the AIS in advance and correcting mismatches, you can make sure refunds are processed quickly without any obstacles.
Reducing the Risk of Notices
Unverified AIS entries can easily trigger scrutiny from the department. Receiving a notice not only means extra compliance work but also increases the chances of further checks. Reviewing your AIS before filing strengthens your record and reduces the possibility of tax notices.
How To Spot Errors In Your AIS?
Identifying mistakes in your Annual Information Statement is essential before filing your tax return. Even minor inaccuracies can cause mismatches, so every entry must be reviewed with care and precision.
Accessing AIS Online
The first step is to log in to the income tax e-filing portal using your PAN and password. From the dashboard, navigate to the AIS section to view your financial information. The portal displays income, tax credits, and transactions linked to your PAN. Regularly checking this section helps detect discrepancies well before filing deadlines.
Reviewing Entries Carefully
Each section of the AIS must be cross-checked with your personal records. Compare salary details with Form 16, interest with bank statements, and TDS with certificates provided by deductors. This process ensures the information recorded in the AIS reflects your actual financial activity. Keeping these documents handy makes verification faster and more reliable.
Common Mistakes to Look For
Frequent errors in AIS can include missing transactions or incorrect details. Taxpayers should focus on the following areas:
- Mismatched or missing income entries.
- Wrong TDS figures when compared with certificates.
- Incorrect bank details, such as account number or IFSC code.
- Errors in interest income, dividends, or capital gains entries.
Spotting these early allows you to correct them before they cause problems during filing.
How to Raise a Correction Request?
When errors are found in your AIS, it is important to correct them quickly through the feedback process. This ensures your records match the Income Tax Department’s data accurately.
Step 1: Log in to the AIS Portal
Begin by visiting the official income tax e-filing website and logging in with your PAN and password. Once inside, go to the AIS section on the dashboard to view your financial information. This is the starting point for raising any correction request.
Step 2: Select the Incorrect Entry
Go through the statement and identify the specific entry with mistakes. This could be an incorrect TDS figure, a wrong income entry, or even mismatched bank details. Highlighting the exact error ensures the feedback is targeted and effective.
Step 3: Use the Raise Feedback Option
After choosing the incorrect entry, click on the raise feedback button provided next to it. This option opens up the correction form where you can submit details for rectification. Selecting the correct option is essential for smooth processing.
Step 4: Provide the Correct Information
In the correction form, fill in accurate details of the transaction. Supporting evidence such as Form 16, bank statements, or other financial records may be uploaded. Submitting these documents strengthens your request and reduces the chances of rejection.
Step 5: Submit the Request
Once you have entered the correct information and attached the necessary proofs, submit the feedback. The system generates an acknowledgment for your request, confirming it has been received for review by the department.
Step 6: Track the Status
Corrections may take time to be processed, so it is important to track the progress. Through the AIS portal, you can regularly check the status of your feedback submission and confirm once the corrections have been updated.
How To Handle Rejected or Complex Errors in AIS?
Not all feedback requests are accepted immediately by the Income Tax Department. Some corrections may be rejected due to missing information, while others may require additional steps for resolution.
Step 1: Review the Rejection Message
If your correction is rejected, carefully read the rejection note provided on the portal. This message usually highlights the reason for rejection, such as incomplete documents or unclear details. Understanding this feedback is essential for making accurate resubmissions.
Step 2: Clarify and Resubmit the Request
After identifying the reason for rejection, update your request with the correct information. Attach all relevant documents, such as bank statements or TDS certificates, before resubmitting. Making corrections thoroughly reduces the chance of repeated rejections.
Step 3: Contact the Income Tax Department
If the issue is more complex, reach out through the department’s helpline or support channels. In some cases, consulting a tax professional can help you present the details in the correct format and strengthen your case.
Step 4: File an Appeal if Needed
When repeated attempts are unsuccessful, you may need to escalate the matter. Filing an appeal through the official grievance redressal mechanism is the next step. Seeking guidance from a professional ensures your appeal is supported with the right documentation.
How To Fix Bank Account Mismatches in AIS?
Bank account mismatches in AIS are common and usually occur when details reported by banks or institutions do not align with the taxpayer’s own records. Correcting these errors ensures smooth refund processing and avoids unnecessary delays.
Step 1: Identify the Bank Account Issue
Log in to the AIS portal and carefully check the account details shown. Compare the account number, IFSC code, and bank name with your actual records. Spotting mismatches early helps prevent refund transfers to incorrect accounts.
Step 2: Raise Feedback for Correction
Select the bank account section in the AIS and raise feedback for rectification. Enter the correct account details and provide an explanation for the mismatch. This step ensures the correction request is linked to the right entry.
Step 3: Provide Supporting Documents
Upload evidence such as a recent bank statement or a cancelled cheque. These documents validate the correct bank account information and strengthen your correction request, reducing the chance of rejection by the department.
Step 4: Follow Up for Resolution
After submitting your feedback, keep track of the correction status on the AIS portal. If the issue remains unresolved, contact the Income Tax Department for further guidance. Persistent follow-up ensures your bank details are corrected promptly.
How To Verify AIS After Rectifications?
Once feedback has been submitted and corrections processed, it is important to confirm that the updates are accurately reflected in your AIS. This ensures your tax filing matches the revised records.
Reviewing the Updated AIS
Log in to the AIS portal again and download the latest version of your statement. Check that the incorrect entries have been updated and replaced with the correct details as requested in your feedback submission.
Reconciling With Personal Records
Cross-check the revised AIS entries with your own financial documents. Compare Form 16, TDS certificates, bank statements, and investment proofs to confirm that every figure now matches your records. This step provides assurance of accuracy.
Proceeding With Tax Filing
Once you are confident that the AIS reflects correct information, proceed to file your income tax return. Filing only after rectification reduces the risk of mismatches, refund delays, or notices from the department. Correct alignment between your AIS and ITR ensures smooth processing.
How KoinX Can Help With AIS Error Management?
Checking and correcting AIS errors can be a confusing task, especially for taxpayers dealing with multiple sources of income and crypto transactions. Missing even small discrepancies may lead to mismatches or notices from the Income Tax Department. KoinX offers a practical way to check all your cryptocurrency transactions and gains. Here’s what it offers to you:
Automated Transaction Tracking
KoinX automatically collects all crypto transaction data from 800+ exchanges and wallets into one place. By doing this, it eliminates the hassle of manual entry and helps spot mismatches with AIS quickly and efficiently.
Error-Free AIS Reconciliation
The platform compares your transaction records with AIS entries to highlight inconsistencies. It ensures accurate alignment between personal records and the tax department’s data, reducing the chances of errors in your return.
Ready-to-File Reports
KoinX generates structured reports with complete details for filing. These reports are designed to meet the Income Tax Department’s requirements, ensuring compliance without extra effort from the taxpayer’s side.
Expert Support for Tax Notices
If discrepancies lead to a tax notice, KoinX offers expert-backed support. From analysing mismatches to preparing responses, the platform helps users resolve issues confidently and avoid further escalation.
With KoinX you can spot AIS errors instantly, reconcile your records without stress, and file accurate returns on time. So why wait, join KoinX today and simplify your tax journey in India..
Conclusion
Correcting errors in your AIS is an essential step for smooth and accurate tax filing. A mismatched statement can lead to refund delays, unwanted scrutiny, or even notices, making proactive verification a responsibility for every taxpayer. By carefully checking entries, providing feedback, and ensuring timely updates, you can prevent complications before they arise.
With tools like KoinX, the entire process becomes simpler and more reliable. From spotting mismatches to preparing accurate reports, it streamlines every step of AIS management. Sign up on KoinX today and take the stress out of error correction and tax compliance.
Frequently Asked Questions
Can I Correct AIS Errors After Filing My Return?
Yes, you can still correct AIS errors after filing by raising feedback on the portal. Once the corrections are made, you may need to file a revised or updated return to align your ITR with the corrected details.
How Long Does It Take For AIS Corrections To Reflect?
The time varies depending on the nature of the error. Simple corrections such as TDS mismatches may take a few weeks, while more complex cases may take longer. You can track the correction status regularly on the AIS portal.
Do AIS Errors Affect Tax Refunds?
Yes, discrepancies in AIS can delay tax refunds since the Income Tax Department cross-verifies refund claims with AIS entries. If details do not match, refunds may be withheld until the issues are corrected and reconciled with accurate information.
Should I Seek Professional Help For AIS Corrections?
While simple errors can be corrected directly on the portal, professional guidance is useful for complex discrepancies or rejected feedback. A tax professional can help prepare supporting documents and guide you through appeals if needed.
What Happens If I Ignore AIS Errors?
Ignoring AIS errors can lead to mismatches between your records and the department’s data. This may result in penalties, scrutiny notices, or reassessment of your return. Timely correction ensures compliance and prevents unnecessary legal or financial complications.
