AIS (Annual Information Statement)

The Annual Information Statement (AIS) is a comprehensive document provided by the Income Tax Department of India that consolidates all the taxpayer’s financial transactions for a given financial year. It is designed to provide taxpayers with a clear view of the information available with the department, including details of income, investments, tax deductions, and other financial activities reported by various entities like banks, employers, and financial institutions. The AIS helps taxpayers ensure accurate filing of their Income Tax Returns (ITR) by verifying and reconciling their financial records with the data maintained by the department.

What is AIS?

Up until now, Form 26AS served as a consolidated annual tax statement which included details of any TDS that might have been deducted and deposited on your behalf, any Advance Tax or Self Assessment Tax paid, as well as records of high-value transactions that you may have made.

The Annual Information Statement is a comprehensive view of taxpayer information. In addition to Form 26AS, Annual Information Statement includes interest, dividends, securities transactions, mutual fund transactions, information on overseas remittances, demand/refunds issued and more.

TIS (Taxpayer Information Summary) is a summary statement aggregated by category. TIS has simplified the submission of returns. Taxpayers can download AIS/TIS in PDF, JSON, and CSV formats.

What are some of the important features of the AIS?

1. AIS is a statement where you can review all the Incomes you have earned during the financial year.
2. If the taxpayer feels that any incorrect information has crept in, they can submit that feedback online. Taxpayers can also submit the feedback offline via the AIS utility.
3. If the taxpayer changes any information on the AIS, the derived information in the TIS will get updated in real-time. With the help of TIS, taxpayers can :
   a. Tally their security transactions with the broker statement.
   b. Cross-verify the dividends that they have received in the bank account with what is mentioned in AIS.
   c. Access information related to refund or demand for the previous year’s ITR.

How to view and download the Annual Information Statement?

What is the password to open AIS?

The PDF of the Annual Information Statement is password-protected. You must enter the PAN in lowercase and either the date of incorporation for non-individual taxpayers or the date of birth for individual taxpayers in the format DDMMYYYY without a space in order to open the file.

For example, if your PAN is ABCDE1235C and your birth date is January 20, 1995, your password will be abcde1235c20011995.

Reasons for Discrepancies in the AIS data and the Trading data:

The trading data being reflected in Annual Information Statement is based on inputs from agencies like depositories, property registrars, and asset management companies. Further, this includes receipt/income from different sources such as salary, interest, etc., or sale or purchase of securities such as equity shares, mutual funds, bonds, etc. Some of the reasons for mismatch are as below:

• The estimated cost of acquisition for the credit is determined on the best possible available price with the reporting entity. As a result of which, data on the sale/purchase of shares is showing the day’s closing prices rather than the prices at which the sale/purchase was executed.
• The estimated cost of acquisition is taken as NIL for OFF Market credits in AIS. This may affect the correct valuation of gift transactions, portfolio transfers etc.
• AIS Data is showing pledged shares as sales of shares.
• AIS is showing only the total purchase & the total sales value of securities. It doesn’t show the previous year’s holding as a result of which capital gains are mismatched.
• The property may be sold by multiple co-owners. However, total sales may be reflected against primary co-owner PAN only.
• Duplication of Entries may happen.
• Source-wise aggregated amounts may vary due to rounding off errors.

How to submit feedback ?

A facility has been provided to submit feedback online.

Feedback can be furnished by submitting multiple pieces of information in bulk. An AIS Utility has also been provided for taxpayers to view this and upload feedback in an offline manner.

The reported value and value after feedback will be shown separately in the AIS. In case the information is modified/denied, the information source may be contacted for confirmation.

FAQs