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of <h1>Income Tax Bill 2025 Clause 510 requires authorities upload Annual Information Statement in taxpayers' electronic accounts</h1> Clause 510 of the Income Tax Bill, 2025 mandates that prescribed income-tax authorities upload an Annual Information Statement (AIS) in taxpayers' registered electronic accounts. This provision is substantively identical to Section 285BB of the Income-tax Act, 1961, ensuring continuity in tax administration. The AIS must contain information possessed by authorities in prescribed form, manner, and timeframe. The registered account refers to the electronic filing account on designated web portals. This digital mechanism aims to enhance transparency, facilitate voluntary compliance, reduce disputes, and promote technology-driven tax administration. The provision empowers authorities to delegate uploading responsibilities while leaving specific details to subordinate legislation. The AIS enables taxpayers to access comprehensive information about their income and transactions, helping them reconcile discrepancies and ensure accurate return filing. This represents India's alignment with global practices in data-driven tax administration.
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