The Income-tax Department has significantly enhanced transparency and compliance by introducing the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS). These features give taxpayers a consolidated view of all financial information reported to the department, helping them file accurate Income Tax Returns and avoid future discrepancies.
The Annual Information Statement (AIS) is a comprehensive report that brings together all major financial transactions carried out by a taxpayer during a particular financial year.
Introduced under Section 285BB of the Income-tax Act, AIS is made available to every taxpayer and includes far more information than what is reflected in the traditional Form 26AS.
It captures details related to:
Taxes paid (Advance tax, TDS, TCS)
High-value or Specified Financial Transactions (SFT)
Income from various sources
Investment activities
GST-linked information
Compliance history such as demands or refund status
AIS makes the tax system more transparent by enabling taxpayers to cross-check every transaction reported to the Income-tax Department.
While AIS offers exhaustive data, the Taxpayer Information Summary (TIS) provides a simplified category-wise summary.
TIS shows the following:
Processed values (information considered by Income-tax systems)
Reported values (data received from various sources)
This helps taxpayers quickly verify whether the department’s data matches their own records before filing their Income Tax Return.
AIS consolidates information from multiple sources as per Rule 114-I of the Income-tax Rules, including.
Details of tax deducted or collected from salary, interest, rent, professional fees, etc.
Reported by banks, financial institutions, stock brokers, NBFCs, and mutual fund companies.
These include:
High-value bank deposits or withdrawals
Credit card spending above thresholds
Mutual fund purchases and redemptions
Property transactions
Share trading and off-market transfers
All taxes paid under the PAN—advance tax, self-assessment tax, and refunds issued by the department.
Information on pending or completed assessment proceedings.
AIS also reflects details from:
GST returns
Foreign remittances (Form 15CC)
Form 61/61A (PAN-related transactions)
Registrar & Transfer Agents (RTA)
Dividends
Mutual fund purchases
Off-market share transactions
Interest on Income Tax refund
Ultimately, AIS offers a 360-degree financial profile of a taxpayer.
These statements are available in two convenient ways:
Login to your account on www.incometax.gov.in and navigate to the AIS section to view or download both AIS and TIS.
A dedicated mobile application allows taxpayers to view information, download statements and submit feedback from their phones.
Since AIS collects data from multiple reporting entities, errors or mismatches may occur—such as transactions reported twice, incorrect amounts, or even data belonging to another PAN.
To resolve this, the AIS system allows taxpayers to submit feedback directly:
Online through the e-filing portal
Using an offline utility
Once feedback is submitted, the system updates the TIS immediately and may also revise the AIS after verification.
These tools create a more accurate and transparent tax ecosystem:
✅ Helps ensure error-free ITR filing
✅ Reduces chances of tax notices
✅ Allows taxpayers to verify reported transactions
✅ Increases financial transparency and compliance
With continuous integration of banking, investment, and GST systems, AIS is becoming one of the most important parts of modern tax compliance in India.
The Annual Information Statement (AIS) and Taxpayer Information Summary (TIS) are powerful tools for taxpayers to verify financial data before filing returns. By reviewing these statements and submitting corrections where needed, taxpayers can file confidently and avoid future complications.
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