Tax
AIS
Also known as: Annual Information Statement
Annual Information Statement - Comprehensive statement of financial transactions reported to tax authorities.
Detailed Explanation
AIS (Annual Information Statement) is a comprehensive view of taxpayer's financial information compiled from various sources like banks, mutual funds, stock exchanges, registrar offices, etc. It includes details of salary, bank interest, dividends, capital gains, cash deposits, property purchases, and other high-value transactions. AIS helps in accurate tax filing and the tax department uses it to pre-fill ITR and detect tax evasion.