TDS · Glossary
AIS (Annual Information Statement)
Comprehensive annual statement showing all financial transactions reported to the IT department.
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.
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 foreign-source payment). She has to declare this in her ITR-4 under "Income from other sources / business receipts" — AIS is how the department knows about it.
Practitioner tip
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.
Related Tool
Free TDS Calculator →TDS rates & sections
Browse all TDS rates & sections →Related glossary terms
- Form 26AS — Consolidated annual tax statement showing all TDS, advance tax, and refunds.
- Form 16A — TDS certificate issued by deductors for non-salary TDS (e.g., 194J, 194C).
Sources
More in TDS
These definitions are educational. Tax laws change annually — verify with a Chartered Accountant before making GST or income-tax decisions.