Explaining : Form 26AS, AIS and TIS in income tax

• by Vaibhav
• Updated: July 15th, 2025

Understanding AIS, TIS, and Form 26AS Before Filing ITR
Before filing income tax returns, it is essential for taxpayers to review key documents such as Form 26AS, the Annual Information Statement (AIS), and the Taxpayer Information Summary (TIS). Together, these statements offer a consolidated view of an individual's income, taxes paid, investments, and high-value financial transactions, ensuring accurate and compliant tax filing.

What is the Annual Information Statement (AIS)?
The Annual Information Statement (AIS) offers taxpayers a more comprehensive and detailed overview of their financial transactions compared to the information available in Form 26AS. It allows taxpayers to review and submit feedback on the data reflected. The AIS displays both the originally reported values and the modified values, which are updated after incorporating the taxpayer’s feedback. These details are organized under various categories such as TDS, SFT, and other financial information, as outlined in the FAQs provided by the Income Tax Department.

Objectives of the AIS (Annual Information Statement):
The AIS aims to present a comprehensive summary of a taxpayer’s financial transactions, as available with the Income Tax Department. It provides an online platform for submitting feedback, encourages voluntary compliance, facilitates seamless pre-filling of income tax returns, and acts as a deterrent against non-compliance.

What is Form 26AS?
Form 26AS is a comprehensive tax statement issued annually that consolidates all tax-related information pertaining to a taxpayer for a specific financial year. It includes details such as Tax Deducted at Source (TDS), Tax Collected at Source (TCS), and TDS on property transactions, among other related entries.

According to the TRACES portal, starting from Assessment Year (AY) 2023–24, the Annual Tax Statement available on TRACES will exclusively display information related to TDS (Tax Deducted at Source) and TCS (Tax Collected at Source).

For all other financial details, taxpayers are required to refer to the Annual Information Statement (AIS) available on the Income Tax Department’s e-filing portal:
https://www.incometax.gov.in/iec/foportal

It is also noted that for years prior to AY 2023–24, the format and scope of the Annual Tax Statement on TRACES will remain unchanged.
 

Difference Between AIS and Form 26AS

The Annual Information Statement (AIS) and Form 26AS are both tools provided by the Income Tax Department to help taxpayers track their financial information. However, AIS offers a significantly broader and more detailed overview compared to Form 26AS.

Key Differences:

• Form 26AS primarily reflects:
  • Tax Deducted at Source (TDS)
  • Tax Collected at Source (TCS)
  • Advance tax payments
  • Refunds issued by the department
  • High-value transactions reported by institutions
• Annual Information Statement (AIS) includes everything covered under Form 26AS, plus a wider array of financial data, such as:
  • Interest earned on savings accounts and fixed deposits
  • Dividends received
  • Rental income
  • Sale and purchase of securities or immovable property
  • Foreign remittances
  • GST turnover (where applicable)

According to the Income Tax Department’s FAQs:

“AIS includes additional details such as savings account interest, dividend, rent received, purchase and sale of securities or immovable property, foreign remittances, interest on deposits, GST turnover, etc.”

Summary:

• Form 26AS focuses mainly on taxes deducted or collected and reported by deductors.
• AIS provides a comprehensive financial profile, making it a valuable tool for accurate tax return preparation and verification.

What is the Taxpayer Information Summary (TIS) and What Does It Contain?

The Taxpayer Information Summary (TIS) is a consolidated, category-wise summary of a taxpayer’s financial transactions, as reflected in the Annual Information Statement (AIS). It provides a comparison between two sets of values:

1. System-Processed Values – These are values automatically generated by the Income Tax Department after removing duplicate entries using predefined rules.
2. Values Accepted by the Taxpayer – These are the final figures confirmed or corrected by the taxpayer based on the available data and feedback provided.

According to the official FAQs on the Income Tax Department’s website:

“TIS is an aggregated summary of information for a taxpayer under each information category, such as Salary, Interest, Dividend, etc. It shows both the system-processed value and the value accepted by the taxpayer. The value accepted in TIS will be used for pre-filling the income tax return, where applicable.”

TIS Contains the Following Key Elements:

• Information Category – Type of income or transaction (e.g., salary, interest, dividend)
• Value Processed by System – Auto-processed figures after de-duplication
• Value Accepted by Taxpayer – Final values reviewed and accepted by the taxpayer

This summary helps taxpayers ensure accuracy in their Income Tax Returns by cross-verifying data already collected by the government from various financial entities.