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In this video, the speaker discusses the importance of the Annual Information Statement (AIS) introduced by the income tax department. Similar to Form 26AS, AIS provides a detailed overview of all financial transactions from the previous year. It includes a wide range of information and is continuously evolving. Claims such as bogus HRA will no longer be possible with AIS. The speaker also explains how to claim tax exemption for house rent allowance (HRA) if paying rent over 8,000 rupees. Be sure to subscribe to the channel for more updates.