In that case, you need to answer by sending copies of your past ITR acknowledgement records. You might need to face a rare situation where the IT Department decides to send you a notice saying you have outstanding tax from a 5-year old return filing. Settling past dues: Here’s another importance of ITR copies besides serving as income proof.This is basically a way for foreign embassies to gauge if you have enough financial interest to return to India. Visa application: Copies of IT returns are the only income proof accepted during visa applications.They ask for these documents, especially when selling high-coverage plans, to confirm the policyholder’s ability to pay the high premiums. High-value insurance policy: ITR copies also act as genuine income proof for insurance companies.Loan applications: Most lending institutions demand ITR copies of at least the past 2-3 years as proof of financial records before sanctioning loans.To access the TIS, enter the PAN in the lower case along with the birth date in the case of an individual taxpayer.An ITR-V or ITR acknowledgement copy is a significant financial document and acts as proof of income in a number of processes.
To access your TIS, click on AIS under the services tab of the I-T portal.Ĭlick "Taxpayer Information Statement" on the next page to download it in a password-protected PDF.
Taxpayer Information Summary, like AIS, can be downloaded from the e-filing portal of the Income Tax Department. The information is used for prefilling returns wherever required. TIS displays details including Information Category, Processed Value and Derived Value. Taxpayers can download their AIS for the year by logging into their accounts on the Income Tax Department portal.ĪIS is available for download under the "Services" tab on the e-filing portal. On the other hand, TIS is part of the AIS and contains an information summary for a taxpayer aggregated by category.Įach category displays the processed value produced due to information deduplication based on pre-established rules and derived values. It contains information mandated in the Income Tax Act, including interest earned on savings account/fixed deposits, TDS, earnings as dividends, mutual funds or other such investments. Launched in 2021, AIS is a comprehensive statement containing all the details of an individual financial transaction in the past year.
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