Pre-filled ITR and AIS: Checks to complete before you hit 'submit'
New Delhi, June 18 -- The pre-filled income tax return and the annual information statement (AIS) have undoubtedly made tax filing easier. A large part of a taxpayer's income - taxes deducted, bank interest, securities transactions and other financial information now flows automatically into the return. The taxpayers should, however, remember one important principle: a pre-filled return is only a starting point, not a final return.
Many taxpayers assume the information in AIS or in the pre-filled ITR is correct. In practice, that assumption can lead to reporting errors, tax notices, and, in some cases, additional tax demands. The responsibility for the accuracy of the return continues to rest with the taxpayer. A few critical checks are ...
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