ITR filing 2026: Don’t submit your income tax return before checking these key details in AIS

The biggest risk now is rushing to file your return in a hurry; many taxpayers skip checking their Annual Information Statement (AIS) carefully, which can lead to income mismatches, missed disclosures, and even tax notices later.

Before filing, it’s a good idea to check the AIS. It brings together all the details of your financial transactions reported to the Income Tax Department by banks, employers, stock exchanges, mutual funds, registrars, and other entities. 

Since the department increasingly relies on AIS for scrutiny and verification, taxpayers should carefully reconcile it with their books and supporting documents before filing the ITR.

Some of the AIS checks that every taxpayer should complete before submitting the ITR:

Verify salary and TDS details: Ensure that the salary reported in AIS matches your Form 16 and payroll records. Also verify that the tax deducted at source (TDS) reflected in AIS corresponds with Form 26AS and the TDS claimed in the return. Any mismatch may result in a reduced refund.

Match interest income from all bank accounts: AIS captures interest reported by banks on savings accounts, fixed deposits, and recurring deposits. Taxpayers should verify that interest from all bank accounts has been disclosed, including accounts that may no longer be actively used. Even small amounts of omitted interest can trigger notices.

Reconcile capital market transactions: Review the details of sale and purchase of shares, mutual funds, bonds, and other securities appearing in AIS. 

“While AIS reports transaction values, it may not compute the correct taxable capital gain. Taxpayers should independently compute gains after considering cost of acquisition, holding period, grandfathering provisions wherever applicable, and eligible exemptions based on their demat statements,” said CA (Dr.) Suresh Surana. 

Check high-value financial transactions: AIS reports various specified financial transactions such as purchase or sale of immovable property, large cash deposits, credit card payments, investments in mutual funds, purchase of securities and other reportable transactions. Ensure these transactions are correctly disclosed and appropriately explained in the return wherever required.

Verify dividend and other investment income: Dividend income, interest from bonds, income from mutual funds and other investment receipts reflected in AIS should be reconciled with actual records. Taxpayers should also verify whether the corresponding TDS has been correctly reported and claimed.

Review foreign income and overseas assets (where applicable): Residents required to disclose foreign assets should carefully verify any foreign income or overseas financial information reflected in AIS. Cross-check the details with financial records and ensure that the disclosures made in the relevant schedules of the return are complete and accurate. Where foreign taxes have been paid, verify that the foreign tax credit claim is supported by the necessary documentation.

Examine every mismatch or incorrect entry: AIS is prepared based on information furnished by reporting entities and therefore may occasionally contain incorrect, duplicate or incomplete entries. Taxpayers should not ignore such discrepancies. If any information is inaccurate, appropriate feedback should be submitted through the AIS portal.

Don’t Forget These Additional Checks: Before hitting the final submit button, taxpayers should also verify their personal details, including email address, mobile number and address, as reflected in AIS. In addition, the Taxpayer Information Summary (TIS) should be reviewed carefully because the processed values in TIS are often used for pre-filling income tax returns. Taxpayers must reconcile AIS and TIS information with bank statements, investment records, and other supporting documents to ensure complete and accurate reporting.

Disclaimer: This article is for informational purposes only and does not constitute professional tax advice. Tax laws and regimes are subject to frequent changes by the government. Readers should verify details with official Income Tax Department notifications or consult a Chartered Accountant before making any financial decisions.  

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