AIS stands for Annual Information Statement, which is a comprehensive view of information for a taxpayer displayed in Form 26AS. It is a statement that provides complete information about a taxpayer for a particular financial year. AIS is introduced with the objective of promoting voluntary compliance, enabling seamless prefilling of return, and deterring non-compliance. It is an upgraded version of Form 26AS and includes details of property purchases, high-value investments, TDS/TCS transactions, savings account interest, dividend, rent received, purchase and sale transactions of securities/immovable properties, foreign remittances, interest on deposits, GST turnover, and more. AIS shows both reported value (value reported by the reporting entities) and modified value (i.e., the value after considering taxpayer’s feedback) for each type of information, i.e., TDS, Statement of financial transaction (SFT), and various other information. The objectives of AIS are to display complete information to the taxpayer with a facility to capture online feedback, promote voluntary compliance, and enable seamless prefilling of return, and deter non-compliance. Taxpayers can access the AIS information by logging into their income-tax e-filing account and can provide feedback on the transactions reported. The AIS is a critical document because it provides taxpayers with a complete overview of their financial transactions during a financial year, helps in identifying discrepancies in income or deductions, and allows taxpayers to rectify them before filing their income tax returns.