ITR Filing 2025: If you understand Form 26AS, AIS and TIS well, not only will your return be filed properly, but the fear of getting a notice will also be reduced.
ITR Filing 2025: What is Form 26AS, AIS and TIS: As soon as the time comes to file income tax return, the same question arises in the minds of many people – which documents are important to see and how to understand them? Especially when Form 26AS, AIS and TIS are mentioned, many times people get confused. But the truth is that these three documents are very important to make your tax filing easy and accurate. If you know about these three well and use them correctly, then not only will your return be filed correctly, but the chances of making any kind of mistake or getting a notice later will also be reduced.
What is Form 26AS?
Form 26AS is like a tax passbook, which contains information related to tax for the entire financial year. In this, you will see how much TDS has been deducted on your income, if you have bought property from someone then the TDS deducted on it, TDS deducted on bank interest or if TCS has been levied on any transaction, then its information is also given in it.
Earlier, many other types of information were also included in this form, but from the assessment year 2023-24, now only the data related to TDS and TCS is shown on the TRACES portal. All other information is now given in AIS i.e. Annual Information Statement, which can be seen on the e-filing website of Income Tax.
AIS means a complete picture of your financial transactions
AIS i.e. Annual Information Statement is much more detailed than Form 26AS. It not only contains information related to your tax, but also includes things like your investments, dividends, interest on savings bank account, rental income, mutual funds, shares, purchase and sale of property, even money sent abroad and GST turnover.
The purpose of AIS is to provide the taxpayer with their complete financial profile at one place. The special thing is that it also provides the taxpayer with the facility to give feedback. That is, if you find any mistake in any information, you can get it corrected by giving online feedback.
TIS means Summary of Financial Information
Along with AIS, you are also given TIS i.e. Taxpayer Information Summary. This is a kind of summary of all your financial details. It shows what information the system has processed and what value it has approved after giving your feedback.
The information in TIS is given category wise – like salary, interest, dividend etc. It is designed in such a way that if you want to use pre-filled data while filing your return, then with the help of TIS that data will already be available in the form and your filing will become easier.
What is the difference between AIS and Form 26AS?
Many people wonder that when both have tax related information, then what is the difference between them? The difference is that Form 26AS contains only information related to TDS and TCS, while AIS gives a glimpse of all your financial transactions.
AIS contains details like your salary, bank interest, dividends, property transactions, purchase and sale of shares, foreign transfers and many other details which are not reflected in Form 26AS. That is why it is very important to check AIS and TIS carefully before filing the return.
Correct information for correct tax filing
If you want your income tax return to be filed without any mistake and avoid problems like receiving notices later, it is important to understand and check Form 26AS, AIS and TIS thoroughly. These documents not only give a clear picture of your income and tax, but also make your tax filing more accurate and easy.
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