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AIS — Annual Information Statement Explained

AIS is the Income Tax Department's comprehensive record of your financial transactions. Here is what AIS contains, how it differs from Form 26AS, and how to use it to file your ITR accurately.

Introduction

The Annual Information Statement (AIS) is the Income Tax Department's complete picture of your financial life. It pulls data from banks, stock exchanges, mutual funds, employers, property registrars, and other entities to show every financial transaction you made during the year. AIS gives the department the information it needs to verify that your ITR is accurate and complete.

For you, AIS is useful in two ways: it prefills your ITR with income you might otherwise forget to declare, and it shows you what the department already knows about your finances — so you can file accurately and avoid notices.

Key facts

AIS vs Form 26AS

Form 26AS covers only TDS, TCS, and tax payments. AIS adds financial transaction data: bank interest, dividends, share transactions, mutual fund investments, foreign remittances, GST data, and more. AIS is the broader, more complete view of your financial profile as known to the IT department.

Information in AIS

AIS contains over 500 data points including salary income (from 26AS), interest income from all banks, dividend income from companies, share transactions from stock exchanges, mutual fund transactions, foreign remittances, property transactions, and GST turnover reported by businesses.

Prefilled in ITR

The Income Tax e-filing portal prefills AIS data directly into your ITR. Salary, interest, and dividend data are auto-populated. You must verify the prefilled data and add any missing income — AIS data that does not match your ITR triggers a CPC notice.

TIS (Tax Information Summary)

The Tax Information Summary (TIS) is a summary derived from AIS. It shows the IT department's computation of your tax based on the information it has. You can view TIS on the e-filing portal under 'Services > Tax Information Summary'. TIS is informational — it is not the final tax demand.

Frequently asked questions

Where do I view AIS?
Log in to incometax.gov.in, go to 'My Account > Annual Information Statement (AIS)' or 'Services > Tax Information Summary (TIS)'. You can download AIS as a PDF or view it online. The AIS page shows all information the IT department has received about you from various reporting entities.

A transaction in AIS is wrong — how do I correct it?
If AIS shows incorrect information, you have two options. First, approach the reporting entity (bank, stock broker, mutual fund) and ask them to file a correction with the Income Tax Department. Second, on the AIS page in incometax.gov.in, you can submit a feedback response to correct or dispute the information — provide supporting documents such as a bank statement or contract note.

Does AIS mean my ITR will be scrutinised?
Not necessarily. AIS is a comprehensive information database — it helps the IT department verify that income reported in ITRs matches the actual transactions. If AIS shows income that does not appear in your ITR, the CPC may issue a notice. Honest discrepancies (a bank missed reporting interest) are resolved by filing a correction. Intentional omission of income can lead to scrutiny.

Is AIS available for HUFs and companies?
AIS is available for individuals and HUFs through the incometax.gov.in portal. For companies and firms, the equivalent statement is the Annual Information Statement (AIS) which is part of the statutory audit and tax filing process. The data points are similar but the portal access differs.

How does AIS help me at filing time?
AIS prefills your ITR with salary, interest, dividend, and other income data received from reporting entities. This reduces errors in ITR filing — you do not need to manually enter every interest certificate amount. However, you must review the prefilled data: AIS may miss some income or include transactions that are not yours (someone else's transactions with a similar PAN can appear in AIS if there is a deductor error).

Sources

Last reviewed by FinWiz24 Research Desk.