Here’s a deep dive into what the Form 26AS, AIS and TIS are and how to use them for filing taxes. However, in order to promote transparency and simplifying the tax return filing process, the Central Board of Direct Taxes (CBDT) expanded the scope of Form 26AS by way of introducing AIS and Taxpayer Information Summary (TIS) to help provide a complete profile of the taxpayer for a particular year. Taxpayers initially referred to Form 26AS for reconciling their tax details, especially tax deducted at source (“TDS”) and tax collected at source (“TCS”) credits, etc. It is important that before furnishing their tax returns, the tax filers review the same and reconcile their financial data to avoid unwarranted notices and tax demands. Form 26AS and Annual Information Statement (AIS) are important documents which are made available by the income tax authorities to the tax filers using technology and the information collated from the above. Over the past few years, the tax filings in India have become digital and due to the requirement of furnishing a permanent account number (PAN) for any major financial transaction, the tax authorities have access to a lot of information regarding the tax filers.

26as download