The Annual Information Statement — AIS — is arguably the most powerful pre-filing document available to Indian taxpayers today. Introduced in November 2021 and progressively expanded, the AIS now captures over 50 categories of financial transactions reported to the Income Tax Department by banks, brokers, registrars, mutual fund houses, crypto exchanges, and government agencies. For AY 2026–27 (FY 2025–26), the AIS is the Income Tax Department's primary tool for detecting under-reporting — and if your ITR does not match its entries, an automated mismatch notice under Section 143(1)(a) is virtually guaranteed. As a CA in Mumbai running pre-filing reconciliations for all our clients, we treat the AIS review as non-negotiable before anyone files ITR online. This step-by-step guide explains exactly how to read, verify, and reconcile your AIS before hitting the submit button.
AIS vs Form 26AS vs TIS — What Is the Difference?
Taxpayers often confuse these three documents. Understanding each one helps you know where to look for what:
| Document | What It Contains | When to Use It |
|---|---|---|
| Form 26AS | TDS/TCS deducted and deposited by deductors (employers, banks, tenants, etc.) against your PAN. Also shows advance tax and self-assessment tax paid. | To verify TDS credits before claiming them in your ITR. |
| AIS (Annual Information Statement) | All financial transactions linked to your PAN — TDS, SFT (Specified Financial Transactions), interest, dividends, MF redemptions, property sales, crypto, foreign remittances, rent received, and more. | To cross-check all income sources before filing. The master document. |
| TIS (Taxpayer Information Summary) | A processed summary of AIS with aggregated values — net income after feedback adjustments. Used by the CPC to compare with your ITR. | The version the IT Department actually uses for mismatch detection. |
All three documents are available on the income tax portal (incometax.gov.in) under the e-File → Income Tax Returns → View AIS section.
How to Download Your AIS — Step by Step
Log in to the Income Tax Portal
Go to incometax.gov.in and log in using your PAN + password (or Aadhaar OTP login). If you have not registered, create your account using PAN as user ID — registration is instant via Aadhaar-based verification.
Navigate to AIS
On the dashboard, go to e-File → Income Tax Returns → View AIS. Click on "AIS" to proceed. The portal will display the current AY — ensure AY 2026–27 is selected before downloading.
Download in PDF or JSON Format
You can download the AIS as a PDF (for reading) or JSON (for importing into tax filing software). The PDF is password-protected — the password is your date of birth in DDMMYYYY format (e.g., 15081990). Download both AIS and TIS for a complete picture.
Review the AIS Summary Screen First
Before opening the detailed PDF, review the AIS summary on the portal. It shows total TDS reported, interest income, dividend income, SFT transactions, and other information at a glance. Any unfamiliar large entry here warrants immediate investigation.
Understanding the Key Sections of Your AIS
The AIS is divided into two main parts — Part A (General Information) and Part B (Tax Information). Part B is what matters for ITR filing and contains the following key sections:
TDS / TCS Information
This mirrors Form 26AS and shows tax deducted at source by your employer (Section 192), bank (Section 194A on FD interest), mutual fund house (Section 194K on MF income), broker (Section 194S on crypto), and any other deductor. Each entry shows the deductor name, PAN, amount paid, and TDS deducted. Cross-check every entry against your actual income documents — salary slips, FD certificates, broker statements.
SFT (Specified Financial Transactions)
SFT entries come from banks, registrars, mutual fund registrars (CAMS/KFintech), post offices, and other reporting entities. They capture high-value transactions regardless of TDS. For AY 2026–27, watch for these common SFT entries:
- SFT-001: Cash deposits in savings account exceeding ₹10 lakh in a year
- SFT-003: Credit card payments above ₹1 lakh (cash) or ₹10 lakh (non-cash) in a year
- SFT-011: Mutual fund purchase above ₹10 lakh in a year
- SFT-012: Equity share purchase above ₹10 lakh in a year
- SFT-013: Property purchase above ₹30 lakh (from the registrar)
- SFT-016: Cash deposits in current accounts above ₹50 lakh
Interest, Dividend & Other Income
Banks report all interest credited to your savings and fixed deposit accounts. Dividend income from listed companies is reported by RTA (Registrar and Transfer Agents). Mutual fund dividends are reported by AMCs. For AY 2026–27, the AIS includes even small savings account interest payments — the IT Department has expanded reporting thresholds significantly. Every rupee of interest and dividend in your AIS must be reported in Schedule OS (Other Sources) of your ITR.
Capital Gains Information
Brokers and depositories report mutual fund redemptions and equity share sales. The AIS shows sale consideration and cost of acquisition for listed securities — though you should always verify against your broker's capital gain statement (which has accurate purchase prices, especially for pre-2018 grandfathered cost calculations). For AY 2026–27, the AIS now captures crypto/VDA transactions separately under the Virtual Digital Assets section.
Rent Received and Other Sources
If your tenant pays you rent above ₹50,000/month, they are required to deduct TDS at 31.2% under Section 194-IB and report it. This will appear in your AIS. Similarly, professional fees received, commission income, and other sources of income reported by deductors appear here.
"The AIS is the IT Department's version of your financial life. If it is in there and not in your ITR, expect a notice. The fix is simple — reconcile first, file after."
How to Submit Feedback on Incorrect AIS Entries
The AIS sometimes contains errors — transactions belonging to someone else with the same PAN (rare but happens), amounts reported incorrectly by the deductor, or duplicate entries. If you find an incorrect entry, do not ignore it and do not simply exclude it from your ITR without addressing it — the TIS will still show the value and trigger a mismatch. Instead, use the feedback mechanism:
Note: Submitting AIS feedback does not automatically correct the original reporter's records. If a bank reported the wrong FD interest, you should also ask the bank to file a TDS correction return (revised Form 26Q) separately.
AIS Reconciliation Checklist — Before You File ITR Online
- Salary income: TDS per AIS matches Form 16 Part A? Salary figure matches Form 16 Part B?
- FD / savings interest: All bank interest entries in AIS accounted for in Schedule OS?
- Dividend income: All dividends in AIS (from shares and mutual funds) included in Schedule OS?
- Mutual fund redemptions: AIS capital gain figures verified against broker's CAS / CAMS / KFintech statement?
- Equity share sales: Broker's capital gain statement reconciled with AIS equity entries?
- Crypto / VDA: Exchange transaction history downloaded and Schedule VDA filled for all transactions in AIS?
- Property sale: SFT-013 entry (if any) matches your actual property sale value? Form 26QB TDS deducted by buyer reflected?
- Rental income: TDS deducted by tenant (Section 194-IB) matches rent received?
- Foreign remittances: Any LRS (Liberalised Remittance Scheme) transactions in AIS — foreign assets to be disclosed in Schedule FA?
- SFT entries: All high-value SFT transactions explainable from your actual financial activity?
- TDS credit: All TDS in AIS / Form 26AS claimed in Schedule TDS of your ITR?
What Happens If You Ignore AIS Mismatches?
The Centralised Processing Centre (CPC) in Bengaluru processes all e-filed ITRs and automatically compares them against the TIS. If your ITR shows lower income than the TIS for the same category, you will receive an intimation under Section 143(1)(a) with an adjustment to your income and a tax demand. You then have 30 days to respond — either accept the adjustment and pay additional tax, or dispute it by providing documentary evidence. The entire process takes months and delays any refund you may be expecting. AIS reconciliation before filing prevents this entirely.
Get Your AIS Reconciled by a CA Before Filing
Our CA team in Mumbai performs a complete AIS, TIS, and Form 26AS reconciliation for every client before the ITR is filed — ensuring zero mismatch and maximum TDS credit utilisation.
Book a Free ConsultationHow a CA in Mumbai Uses AIS as a Pre-Filing Audit Tool
At KC Shah & Associates, the AIS review is the first step in our individual ITR filing process — before we even open the filing portal. We download the AIS, compare it line by line against the client's income documents, identify discrepancies, submit feedback where needed, and then build the ITR around the reconciled figures. This approach means our clients' returns are CPC-ready from day one — no mismatch notices, no demand letters, and no delayed refunds. For clients on our outsourced accounting services, their bank interest, dividend, and investment transaction data is tracked throughout the year, making the AIS reconciliation a matter of minutes rather than days.
Conclusion
The AIS is not optional reading — it is the benchmark the Income Tax Department uses to assess your ITR for AY 2026–27. Download it the moment you start your filing process, cross-check every section against your actual income documents, submit feedback on any incorrect entries, and only then proceed to fill and file your ITR online. Given the July 31, 2026 deadline for most individual taxpayers, starting the AIS reconciliation process in May or June gives you adequate time to address discrepancies with deductors before the rush. If you need help, KC Shah & Associates provides complete AIS reconciliation and individual ITR filing services for salaried employees, investors, freelancers, and business owners across India.
Written by CA Karan Shah
Founder of KC Shah & Associates. With over 5 years of experience in income tax, GST, and virtual CFO services, Karan helps startups and SMEs across India achieve financial clarity and stay audit-ready.