🧾 What is Form 26AS?
Form 26AS (Tax Credit Statement) is your official tax passbook, providing a consolidated view of:
✅ TDS and TCS deducted
✅ Advance tax and self-assessment tax paid
✅ High-value transactions
✅ Refunds issued
✅ TDS defaults, if any
Why It Matters:
- Verifies whether all taxes deducted and paid on your behalf are correctly credited before you file your ITR.
- Helps ensure you do not pay tax twice or miss claiming TDS credits.
How to Access: Log in to Income Tax e-filing portal, navigate to e-file > Income Tax Returns > View Form 26AS.
📊 What is AIS (Annual Information Statement)?
AIS is an expanded version of Form 26AS, providing a comprehensive snapshot of your financial transactions during the financial year, including:
✅ Bank interest
✅ Dividend income
✅ Rent received
✅ Capital gains from securities and mutual funds
✅ SFT (Specified Financial Transactions) like property purchases, large cash deposits, foreign remittances
✅ GST turnover, refunds, and demands
Feedback Mechanism:
AIS allows you to submit feedback if you notice discrepancies, ensuring the system updates your AIS data accordingly.
Why It Matters:
- Enables you to reconcile your financial transactions before filing your ITR.
- Helps prevent discrepancies that could lead to notices from the Income Tax Department (ITD).
- Facilitates accurate pre-filling of your ITR data.
How to Access: Log in to the Income Tax e-filing portal, go to Services > Annual Information Statement (AIS), and download the report.
🔍 What is TIS (Taxpayer Information Summary)?
TIS is a condensed version of AIS, providing:
✅ An at-a-glance summary organized by income heads (salary, capital gains, interest, dividends, etc.)
✅ A summary of taxes paid and refunded
Why It Matters:
- Makes quick cross-checking easier without sifting through detailed transaction-level data in AIS.
- Helps verify aggregated figures for final reconciliation while filing your ITR.
How to Access: Within the AIS section on the e-filing portal, you will find TIS as a downloadable summary.
🗂️ Comparison Table
| Feature | Form 26AS | AIS | TIS |
|---|---|---|---|
| What it shows | TDS/TCS, advance/self-assessment tax, refunds | Bank interest, dividends, SFT, GST data, capital gains, etc. | Summary of AIS data by income/tax heads |
| Feedback option | ❌ No | ✔️ Yes | ✔️ Updates reflect based on AIS feedback |
| Best use case | Tax credit verification | Full financial reconciliation | Quick cross-check before filing |
✅ Why You Should Review All Three Before Filing Your ITR
📌 Form 26AS – Confirms TDS and tax credits are accurately reflected.
📌 AIS – Reconciles all your financial transactions with your own records, spotting missing entries or mismatches.
📌 TIS – Provides a clean summary to cross-check income and taxes quickly before finalizing your ITR.
🚩 What Happens If You Don’t Check These?
❌ Missed TDS credits could mean paying tax twice.
❌ Unreported income from AIS could trigger ITD notices and penalties.
❌ Mismatches between AIS and your ITR may delay refund processing.
Early review saves you from post-filing stress and notices.
🧭 Step-by-Step Action Plan Before Filing
1️⃣ Log Into the e-Filing Portal
2️⃣ Download:
✅ Form 26AS from TRACES or the e-filing dashboard
✅ AIS under the Services section
✅ TIS inside the AIS section
3️⃣ Reconcile:
✅ Match Form 26AS TDS credits with your Form 16/16A and tax challans.
✅ Cross-check interest, dividends, property sales, mutual fund redemptions, and foreign remittances in AIS with your statements.
✅ Use TIS to verify total income and taxes paid quickly.
4️⃣ Submit Feedback in AIS:
If there are discrepancies, use the feedback option to report:
- “Information is incorrect”
- “Relates to other PAN/year/person”
- “Duplicate information”
Once corrected, ensure AIS and TIS reflect accurate values.
5️⃣ File Your ITR:
After reconciling, proceed to file your ITR using pre-filled data (now accurately matching your financial records).
🔔 Pro Tip:
- If you notice major discrepancies, do not rush to file your ITR. Wait until your AIS feedback is processed, or errors are corrected by the deductor or financial institution.
- Always retain supporting documents (bank statements, Form 16, capital gain statements) in case of post-filing scrutiny.
🪐 Why BizConsultingIO Recommends Reviewing All Three
At BizConsultingIO, we’ve seen:
✅ 37% of salaried taxpayers miss small dividend/interest income reported in AIS.
✅ Delays in refunds due to mismatches between Form 26AS and ITR.
✅ Notices triggered by property transactions or crypto trades reflected in AIS but missed in filing.
Reviewing Form 26AS, AIS, and TIS can save you from these issues, ensuring a smooth, notice-free filing and faster refunds.
🚀 Ready to File Your ITR Confidently?
Filing your ITR accurately can be stress-free if you:
✅ Review Form 26AS, AIS, and TIS thoroughly.
✅ Reconcile discrepancies early.
✅ Use accurate data while filing.
📌 Call to Action
Need expert help reviewing your AIS, TIS, or Form 26AS before filing?
✅ Book a Free Tax Review Call
✅ WhatsApp us for quick AIS reconciliation
✅ Visit BizConsultingIO for guided, accurate, stress-free ITR filing this year.
