AIS vs Form 26AS: What Is the Difference?
Reconciling your income statements is vital before submitting your ITR.
Comparison: - **Form 26AS**: Primarily tracks taxes deducted at source (TDS), tax collected at source (TCS), and self-assessment tax paid. - **AIS (Annual Information Statement)**: Contains everything in Form 26AS, plus details of savings interest, mutual fund purchases, stock transactions, and credit card expenses.
> Always verify that your declared income in ITR matches both AIS and Form 26AS to avoid receiving automated tax mismatch notices under Section 143(1).
Disclaimer
Tax rules, thresholds, and calculations are estimates subject to regulatory changes. Always verify information on the official Income Tax or GST portals, or consult a qualified Chartered Accountant before final filing or payment.