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Income Tax Return: What are AIS and Form 26AS? Know here
ITR: If you want to file an income tax return, you should be aware of the difference between 26AS and AIS.
Updated : Jun 22, 2023, 05:10 PM IST | Edited by : Raunak Jain
 "Income Tax Return, ITR filling, AIS and 26AS, Income Tax Return Filling, how to file itr")
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Income Tax Return: Filing your income tax return is an essential task, and the Income Tax Department has issued the necessary form for this purpose. You have until July 31 to file your income tax return without any penalties. However, if you miss this deadline, you may be allowed to file your return with a penalty. If you are planning to file your income tax return, here are some important things you should be aware of.
Annual Information Statement (AIS): The Income Tax Department introduced the Annual Information Statement (AIS) on the compliance portal in 2021. This statement provides taxpayers with detailed information about their financial transactions conducted during a financial year. It simplifies the process of filing tax returns and offers taxpayers insights on various aspects, such as tax refunds, TDS or TCS (Tax Deducted at Source or Tax Collected at Source), interest, mutual fund transactions, tax payments, share transactions, and more. When filing your income tax return, you can access all transaction-related information through AIS, available in PDF, JSON, and CSV formats.
Form 26AS: Form 26AS is another important document that contains comprehensive information about tax deducted, collected, and PAN (Permanent Account Number) details for a specific financial year. While filing your income tax return, it is crucial to have your tax passbook, Form 26AS, and transaction details for the financial year, along with your PAN.
Information included in Form 26AS: Form 26AS provides valuable details such as the source of tax deductions, information about tax collectors, self-assessment tax, advance tax, tax refunds, annual information reports, high-value transactions, tax deductions, and more.
Downloading AIS: To access your AIS data, you need to log in to the Income Tax Portal. From there, navigate to the service section and select AIS. On the homepage, click on the AIS tab and choose the relevant financial year. By clicking on the AIS tile, you will be able to view your Annual Information Statement, available in PDF, JSON, or CSV format.
Obtaining Form 26AS: To download Form 26AS, visit the Income Tax website and select the E-File menu, followed by the Income Tax Return option. Look for 'View Form 26AS' and click to download the form.
These resources, namely the AIS and Form 26AS, provide crucial information that simplifies the income tax return filing process. Make sure to utilize them effectively and meet the deadline for filing your income tax return.
