AIS
What AIS means, how it works, a worked example, the mistakes we see and the questions founders ask.
DefinitionThe Annual Information Statement (AIS) is the income tax department's record of your financial transactions for the year, including interest, dividends, share sales, TDS and high-value spending.
AIS sits in your income tax portal login and pulls data from banks, employers, mutual funds, registrars, property registrars and GST. It goes beyond Form 26AS by showing income the department already knows about, such as savings interest, dividends, mutual fund redemptions and property purchases, along with the TDS deducted on them. You meet it every time you file a return: the pre-filled ITR draws from the AIS, and the department compares what you declare against it. What it means for you is simple: reconcile before you file. If the AIS shows income you did not report, expect a notice; if it shows something wrong, submit feedback on the portal so the record is corrected. Check it in June, before the ITR deadline, when most data has arrived.
How AIS works
The AIS was introduced in November 2021 and sits under the Services menu of the income tax portal. It compiles the statements that third parties file with the department: TDS and TCS returns from deductors, the statement of financial transactions (SFT) from banks, mutual funds, registrars, depositories and property registrars, GST turnover from GSTR-3B, foreign remittances reported by banks, and interest and dividend data. Each entry carries the reporting entity, the amount and the date.
Two views sit side by side. The AIS itself shows every reported transaction; the Taxpayer Information Summary (TIS) aggregates them into the figures the department expects to see in the return, such as total interest income or total dividend. The pre-filled ITR draws from the TIS, so an inflated or duplicated AIS entry can inflate the draft return before you touch it.
Every AIS line accepts feedback: information is correct, income is not taxable, income relates to another PAN or year, the amount is wrong, or it is a duplicate. From 2024 the department forwards feedback to the reporting entity for confirmation, and the status shows whether it was accepted. The AIS keeps updating after 31 March as late filers report, so the view in June is fuller than the one in April.
A Bengaluru founder sells listed shares worth ₹8 lakh in February 2026 and earns ₹42,000 of savings interest across two banks. Her AIS for 2025-26, checked on 20 June, shows both, plus a ₹12 lakh credit card spend reported under SFT and a mutual fund redemption she had forgotten. She reports the capital gains and the full interest in ITR-2, submits feedback marking a duplicate dividend entry, and files with figures that match the TIS, so the return is processed without a notice.
Mistakes we see with AIS
- Filing from last year's numbers without opening the AIS, so interest or a share sale the department already knows about is left out and a Section 143(1) adjustment or notice follows.
- Treating every AIS line as taxable income, including gross sale consideration of shares or a matured fixed deposit, and overpaying rather than reporting the gain or interest correctly.
- Ignoring a wrong entry instead of submitting feedback, which leaves the mismatch on record even after the correct return is filed.
Last updated 19 October 2026. Checked against the MCA, GST, Income-tax and Trade Marks rules in force for October 2026.
Where you will meet this term
Questions founders ask about AIS
What is the difference between AIS and Form 26AS?
Form 26AS is the tax credit statement: TDS, TCS, advance tax and refunds against your PAN. The AIS is broader and shows the underlying financial transactions the department has collected, whether or not tax was deducted on them. Check 26AS for credits and the AIS for income you may have missed.
Does the AIS show income that is not mine?
It can, when a bank or registrar reports a joint account or a transaction under the wrong PAN. Submit feedback on that line choosing the option that fits (relates to another PAN, duplicate, or amount incorrect), keep the proof, and report only the income that is yours. The feedback trail is what protects you if a notice arrives.
When should I check the AIS before filing?
Mid-June is the practical date for a 31 July return, because fourth-quarter TDS returns are filed by 31 May and most SFT reporting is in by then. Check once more on the day you file, and again if a client or bank tells you they revised a return.