ITR Filing: The deadline for filing income tax returns for the financial year 2024-25 is 15 September 2025. As this deadline is approaching, experts are advising taxpayers to be careful while filing ITR (ITR Filing 2025).
Anyway, many times while filing Income Tax Return (ITR), taxpayers often get confused about dividend income. Many times the amount shown in the bank account and the amount recorded in the Annual Information Statement (AIS) or Form 26AS of the Income Tax Department do not match. In such a situation, the biggest problem is that who should be considered correct in ITR. If caution is not taken, then a notice can also be received from the Income Tax Department for filling the wrong information.
Let us tell you that it is necessary for taxpayers to give complete information about their income in income tax return filing. Those who invest in the stock market also earn from dividends, which should be given in ITR filing. Dividend income is taxable and is reported under “income from other sources” in the ITR form. Many investors often keep a record of their dividends through Excel sheet or bank statement. But when they match these figures with the AIS/TIS downloaded from the income tax portal, these figures do not always match. In such a situation, the question arises that which data should be entered in ITR?
Why does this mismatch occur?
According to a Moneycontrol report, this mismatch mostly happens because the net dividend is shown in the bank account, that is, the amount after tax deduction. Whereas in AIS and 26AS, the entire gross income and the TDS deducted are recorded separately. Sometimes this difference can also occur due to the dividend being deposited in the account on a holiday or coming into a less used account. In such a situation, if care is not taken, then filling the wrong information can even lead to a notice from the tax department. Therefore, it is important to understand how to file ITR correctly in this situation , so that any kind of notice or trouble from the tax department can be avoided.
Who is right to show in ITR?
While filing ITR, you should always include gross dividend income. That is, the entire amount declared by the company or mutual fund. You have to enter it in “Income from Other Sources” (Schedule OS). At the same time, you should enter the TDS shown in Form 26AS or AIS in the TDS schedule and claim credit. If you have taken a loan to invest in shares or mutual funds, then the interest paid on it can be shown as a deduction up to 20 percent. But, bank commission or other expenses cannot be included for deduction.
Why is correct information important?
Showing correct dividend income not only makes ITR filing easier and gets refund on time, but also avoids future scrutiny or notices from the tax department. So do not ignore this information while filing ITR.
Know what is AIS
Annual Information Statement – Through this form, there is complete information about the transactions of the financial year. This means that where and how much you have done the transaction or spent throughout the year. Complete information is available under this. AIS is very useful in filing ITR. Information about salary, interest, dividend, rental income, TDS, TCS details, shares, mutual funds, transactions like property purchase and sale, foreign remittance and GST turnover, tax payment, refund, and demand etc. is included. To make income tax return filing easier, taxpayers are given a record of all their financial activities at one place. AIS has started from the year 2019. Before the arrival of AIS, taxpayers used to get all the details related to their tax in Form 26AS. This included the details of TDS, TCS, advance tax and self-assessment tax of that taxpayer.
How to download AIS?
1 – To view AIS, visit the Income Tax website and log in to your e-filing account.
2 – To log in you will need your PAN or Aadhaar number and password.
3 – After logging in, you can view your statement by visiting the AIS portal.
4 – You can also download your AIS in PDF, JSON or CSV file format.
5 – Apart from this, the Income Tax Department has also launched a free mobile app AIS for Taxpayers.
6 – Through this app you can view AIS on your mobile phone itself.
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