AIS v/s 26AS

The Income Tax Department has made available a new statement for taxpayers, which contains more information regarding financial transactions of taxpayers than the existing Form 26AS which can significantly ease the income tax return (ITR) filing process for them. 

The new statement known as Annual Information Statement (AIS) is a comprehensive statement and provides additional information linked to interest, dividend, securities transactions, mutual fund transactions, foreign remittance information and other such transactions so that the taxpayer does not miss out on reporting any such transaction in his/her ITR. 

AIS is divided into two parts; Part A and Part B:

Part A contains general information such as PAN, masked Aadhaar number, name of taxpayer, date of birth etc.

Part B contains comprehensive information of TDS, TCS, Specified financial transactions, payment of taxes, tax demand and refund and other information.

AIS can be downloaded in three formats i.e. PDF, JSON and CSV

The new AIS provides a simplified Taxpayer Information Summary (TIS), showing the aggregated value to help the taxpayer in filing the ITR.

If the taxpayer finds any discrepancy in the information captured in the AIS, he/she can submit online feedback. If the user submits any feedback, the derived information in the TIS will be automatically updated on a real-time basis.

TIS will show the processed value (i.e. the value generated after duplication of information based on pre-defined rules) and derived value (i.e. the value derived after considering the taxpayer feedback and processed value). The derived information in TIS will be used for pre-filling of Return (pre-filling will be enabled in a phased manner).

If you have already filed your ITR, then you can file a revised return if you have missed out on reporting any financial transaction.

Here is how to access and download the AIS and TIS from the e-filing website:

Log into the e-filing portal using your PAN and your password.

Go to the ‘Services’ section at the top menu and click on ‘Annual Information Statement (AIS)’.

Now, click on ‘Proceed’.

Then, click on the download button in the AIS tab.

Select either the PDF or the JSON option and click on ‘Download’.

Click on the PDF and enter password to open the document

The password will be your PAN and your date of birth. For example, if your PAN is ABCDE1234F and your DoB id 01/01/2000, then the password to open the document will be ABCDE1234F01012000.

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