What Is The Full Form Of TIS In Income Tax?
TIS full form in income tax is Taxpayer Information Summary. It is one of the important parts of the Annual Information Statement (AIS) in income tax. It provides a brief and clear view of the year’s financial transactions and tax details. The goal of the TIS is to make things clearer and help you follow tax rules by organizing and simplifying the information collected in the AIS. It shows you the values of your financial activities both calculated and original, summarized to help you check details before making tax returns.
TIS for Tax Precision:
The TIS gives you a simple and easy-to-understand summary of your financial activities. This is very important for correct tax reporting and following tax laws.
Content and Structure of TIS:
TIS has two main parts. First is Part A, which is Basic Personal Information that contains name, birth date, contact details, and tax numbers. Part B is a detailed look into the financial transactions. This section shows the amounts you initially reported and any changes made after your feedback. It covers things like your salary, dividends, and mutual fund transactions.
How to Access and Use Your TIS:
The TIS is easily available to you on the Income Tax e-filing portal. On logging in, under the Services tab, click on the Annual Information Statement and select the TIS option to view the financial summary and download it. This document can be downloaded in formats like PDF, JSON, or CSV. The access is protected with a password that uses your PAN and date of birth.