Filing your income tax return can feel confusing, especially with so many documents to check. Three important statements you should always review before filing are Form 26AS, the Annual Information Statement (AIS), and the Taxpayer Information Summary (TIS). These documents help you see all your income, taxes paid, investments, and major transactions in one place.
What is Form 26AS?
Form 26AS gives a summary of all tax-related activities linked to your PAN (Permanent Account Number) for a financial year. It is a key document for anyone filing taxes, as it shows:
- Tax Deducted at Source (TDS) from your salary, interest, pension, or winnings
- Tax Collected at Source (TCS) by sellers when you buy certain goods
- Advance tax or self-assessment tax you have paid directly
- Refunds paid to you by the tax department
- High-value transactions like property or mutual fund purchases
You can download Form 26AS from the income tax portal. It is useful to check that the TDS deducted from your income has actually been deposited with the government. If there are any differences between your TDS certificates and Form 26AS, you can get them corrected before filing your return.
What is the Annual Information Statement (AIS)?
AIS is a newer and more detailed statement that shows a complete picture of your financial activities. It includes everything in Form 26AS and much more. AIS covers:
- All sources of income, such as salary, interest, rent, and dividends
- Stock market and mutual fund transactions
- Property purchases and sales
- Foreign remittances
- GST turnover, if any
AIS also allows you to give feedback if you spot any mistakes in the information shown. The statement displays both the original value reported by banks or companies and the modified value after your feedback. This helps make sure your tax records are accurate.
Key features of AIS:
- Detailed view of all your financial transactions
- Option to provide feedback and correct errors
- Helps with easy and accurate filing of your tax return
What is the Taxpayer Information Summary (TIS)?
TIS is a summary that groups all your financial information into categories. It is generated from the data in AIS. TIS shows:
- Income from salary, interest, rent, and other sources
- System-processed values (after removing duplicate entries)
- Values accepted by you as a taxpayer
TIS is used to pre-fill your income tax return, making the process faster and reducing errors. If you notice any mistakes in TIS, you can correct them through the AIS feedback option.
Why Should You Check These Documents?
- To make sure all your income and taxes paid are correctly reported
- To spot any missing or incorrect entries and get them fixed
- To avoid notices or problems from the tax department later
- To file your tax return smoothly and accurately
Steps Before Filing Your Tax Return
- Download Form 26AS, AIS, and TIS from the income tax portal
- Compare the details with your own records and TDS certificates
- Report any errors in AIS and provide feedback
- Use the corrected information to fill your tax return
