Income Tax Return: Know difference between AIS and 26as before filling ITR


ITR: If you are going to file income tax return then you should know the difference between AIS and 26AS. Let us know for what purpose they come.

he Income Tax Department has issued the form for filing the return. You have time till July 31 to file income tax return. After this, permission will be given to file ITR with penalty. On the other hand, if you are going to file ITR, then you should know some basic things.

What is AIS

The IT department launched a new Annual Information Fee (AIS) on the compliance portal in 2021, which provides taxpayers with information about their financial transactions made during a financial year.

What kind of information is there in AIS

It makes it easy for taxpayers to file their returns. Apart from this, it also provides information to taxpayers like tax refund, TDS or TCS, interest, mutual fund transaction, tax payment, share transaction etc. This means that you will get all the transaction information under AIS while filing ITR. Taxpayers can access AIS data in PDF, JSON and CSV form.

What is Form 26AS?

Under this, there is complete information about tax deducted, collected and PAN during the financial year. While filing ITR, a taxpayer should have tax passbook, 26AS form and details of transactions during the financial year along with PAN.

In which manner information under 26AS

Under 26AS, there is information about the source of tax deduction, tax collector’s information along with self-assessment tax, advance tax, tax refund, annual information report, high value transaction, tax deduction etc.

How to download AIS

To get AIS data, first login to Income Tax Portal. After this, select AIS under the service section. Now click on the AIS tab on the homepage. Now select the financial year and click on the AIS tile to view the Annual Information Statement.

How to get Form 26AS

First of all go to the Income Tax website. After that select the E-File menu and select Income Tax Return. Download the form by clicking on ‘View Form 26AS’.