TDS · Glossary
AIS (Annual Information Statement)
Comprehensive annual statement showing all financial transactions reported to the IT department.
Updated 2026-10-08Source: Income-tax Act · CGST Act · CBDT/CBIC
What it means
AIS, launched by CBDT in November 2021 under Section 285BB of the Income Tax Act, 1961, is a wider statement than Form 26AS — it includes TDS/TCS information plus reporting from banks, registrars, depositories, mutual funds, and other reporting entities. Covers SFT (Specified Financial Transactions per Rule 114E) like large bank deposits, mutual fund purchases, foreign remittances.
For freelancers, AIS often shows information that 26AS does not — high-value bank credits, deposits above Rs. 10 lakh, mutual fund SIPs above Rs. 10 lakh per year. Always cross-check AIS before filing ITR.
From Tax Year 2026-27, AIS is issued as **Form 168** under Rule 245 of the Income-tax Rules 2026 (Section 510 of the Income-tax Act 2025), replacing Section 285BB. CBDT's own note lists the predecessor as "26AS (AIS)" — the two statements converge under one form number. Income earned before 1 April 2026 is unaffected.
A worked example
Priya’s AIS shows a Rs. 12,00,000 wire credit from a US client that her 26AS doesn’t (no Indian TDS deducted on a payment from abroad). She reports it as professional (business) receipts in her return — AIS is how the department knows about it. Whether ITR-4 is open to her with a foreign client is a question for her CA; ITR-3 is the safe alternative.
Reconcile AIS against your bank book before filing. Use the AIS feedback feature to flag any incorrect entry (e.g., a credit wrongly attributed to your PAN) — unfiled feedback creates audit-trail risk.
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Sources
Income-tax entries cite the Income-tax Act 1961, which governs FY 2025–26 (the return filed in 2026); from tax year 2026–27 the Income-tax Act 2025 applies, with new section numbers shown where we give them. GST law is unchanged. General information, not tax advice; verify with your CA before you file.
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