The Income Tax Department has taken a lot of measures over the last few years to make tax filing hassle-free for assessees. As part of its efforts, the Central Board of Direct Taxes (CBDT) has made some changes in the existing Income Tax Return (ITR) forms as well as the corresponding forms necessary to file tax returns. With all these initiatives, the e-filing of returns has become so easy.
If you visit the Income Tax Department’s e-filing website and start filing your ITR now, you will find a lot of your information already filled in fetched from your Form 26AS and Annual Information Statement (AIS).
But here a question arises – when all the data is already on the portal, then why do you need to look at Form 26AS and Annual Information Statement (AIS) again before you file your income tax return?
So, why do you need to check Form 26AS and AIS before filing your tax return?
Actually, these are the two forms that give you a chance to ‘double check’ while filing the return. These are like a mirror for you, by looking in which you can make sure that no information is missing, or no tax deduction is missed.
If you file the return directly without looking at these two forms, then it is possible that your tax refund may get stuck or a notice may come later – and then that extra hassle!
What does Form 26AS tell?
Form 26AS is a tax credit statement that tells you how much tax has been deposited against your PAN. It contains details of TDS deducted on your salary or other income, self-assessment tax, advance tax, refund information and even details of some big expenses or investments – like buying a property or investing in a large mutual fund.
If there is any error in it – like a TDS entry is missing – then you can contact the person or organization that has deducted the tax to get it corrected.
Why is AIS necessary?
AIS (Annual Information Statement) gives a comprehensive view of all the information available in Form 26AS. AIS is actually a slightly upgraded version of Form 26AS. It contains interest received from the bank, dividend income, purchase and sale of mutual funds, share trading, rent, money sent abroad, big credit card expenses – everything.
This is your financial ‘profile’ in a way, by looking at which you can understand which income details the tax department has. If it shows something that you haven’t entered — fear not. You can go to the portal and provide feedback and request to correct those entries.
What is the difference between AIS and Form 26AS?
According to the Income Tax website, “AIS is the extension of Form 26AS. Form 26AS displays details of property purchases, high-value investments, and TDS/TCS transactions carried out during the financial year. AIS additionally includes savings account interest, dividend, rent received, purchase and sale transactions of securities/immovable properties, foreign remittances, interest on deposits, GST turnover etc. AIS also provides the taxpayer the option to give feedback on the transactions reported. Further, the aggregation of transactions on information source level is also reported in TIS.”
What to do before filing ITR for AY 2025-26?
Before filing ITR, go through both Form 26AS and AIS and cross-check that all your income, tax deductions, interest, etc. are correctly entered. This is a small step but it will help you avoid filing the wrong return and avoid any tax notice or refund delay.
Note that the last date to file ITR for AY 2025-26 is 31 July 2025 (for non-audit holders). Yes, the necessary utilities have not been updated on the e-filing portal yet, but you can start preparing by checking 26AS and AIS now — so that there is no last-minute tension.
