Form 26AS and AIS documents are required to file an ITR.
Filing the Income Tax Return requires authentic documents, which include salary slips, AIS, and Form 26 AS.
With the deadline for Income Tax Return (ITR) filing approaching on July 31st, it is essential to gather the required documents, including Form 16 and income/investment-related records. Among these documents, two crucial forms, namely Form 26AS and Annual Information Statement (AIS), play a significant role in the ITR filing process. Users can access AIS by logging into the Income Tax Department website at https://www.incometax.gov.in/iec/foportal/.
Form 26AS serves as a consolidated tax statement containing details of tax deductions from various sources of income. It includes information about tax deduction sources (TDS), advance tax or self-assessment tax payments, refunds, regular tax payments, and tax collection at source (TCS). On the other hand, AIS, set to be launched by ITR in November 2021, provides insights into earnings from different avenues, such as interest on savings accounts, dividends, income from recurring or fixed deposits (FDs), mutual fund securities, and foreign income.
Both AIS and Form 26AS are essential for filing an income tax return. Form 26AS outlines deducted TCS and TDS details, while AIS encompasses information on taxes deposited by the taxpayer, including advance tax and self-assessment tax. To ensure accurate ITR filing, individuals should refer to both Form 26AS and AIS, as they contain distinct details vital for the process.
There are chances of errors in both AIS and Form 26AS. In such cases, individuals should maintain accurate documentation and transaction records to facilitate any necessary corrections. If the tax department declines or cannot rectify the mistake, having proper documentation is crucial in case proof is required during the ITR filing process.
Users can conveniently check AIS and download Form 26AS by following these steps:
To Download Form 26AS:
Visit the official ITR website at https://www.incometax.gov.in/iec/foportal/.
Select the e-file menu and choose ITR.
Click on “View Form 26AS” to access the form.
Review the information displayed on the screen.
To Check AIS:
Log in to the official website at https://www.incometax.gov.in/iec/foportal/.
Access the e-filing portal and click on the service category, then proceed to AIS.
On the homepage, navigate to the AIS tab.
Select the fiscal year, click on the AIS bar, and view the statement.
By following these steps, individuals can conveniently review and download both AIS and Form 26AS, ensuring accurate and complete information for a seamless ITR filing experience.
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