Form 26AS, referred to as part of the Annual Information Statement (AIS) framework, is one of the most important tax documents for salaried employees, freelancers, investors and business owners while filing income tax returns (ITRs).
The statement gives taxpayers a consolidated view of taxes deducted, high-value financial transactions, refunds and other tax-related information linked to their Permanent Account Number (PAN).
Under the new Income Tax Act, 2025, Form 26AS has been replaced by Form 168, but taxpayers continue to refer to it as Form 26AS or AIS.
What is Form 26AS or AIS?
Form 26AS is essentially a tax passbook maintained by the Income Tax department. It contains details of tax deducted at source (TDS), tax collected at source (TCS), advance tax payments and certain specified financial transactions reported against a taxpayer’s PAN.
The statement also captures information such as:
· Refunds issued by the Income Tax department
· Pending and completed tax proceedings
· Self-assessment tax paid
· High-value financial transactions reported by banks and institutions
· TDS deducted on property transactions under Section 194-IA
· Defaults in TDS, if any
The AIS system was introduced to improve transparency and reduce errors during tax filing. It also allows taxpayers to provide online feedback if any information appears incorrect or duplicated.
Tax experts say taxpayers should review AIS carefully before filing returns because banks, employers, mutual funds, registrars and other reporting entities regularly share financial information with the tax department.
Why Form 26AS matters during ITR filing
For many taxpayers, Form 26AS acts as the first checkpoint before filing returns. It helps verify whether the TDS deducted by employers, banks or clients has actually been deposited with the government.
If there is a mismatch between TDS claimed in the ITR and data available in AIS, the taxpayer may receive a notice from the Income Tax department or may face delays in refunds.
The statement is also increasingly relevant because the tax department now tracks a wide range of transactions, including:
· Large bank deposits
· Credit card payments
· Purchase and sale of property
· Mutual fund and securities transactions
· Foreign remittances
As a result, experts advise taxpayers not to ignore AIS entries even if they believe a transaction is exempt or non-taxable.
When is Form 26AS updated?
The statement is updated after deductors such as employers, banks or companies file their TDS returns with the Income Tax department.
Typically, deductors are required to file TDS returns by the end of May for the relevant cycle. Once processed, the updated details usually reflect in Form 26AS or AIS within about a week.
Taxpayers are advised to wait until all TDS entries are updated before filing returns, especially salaried employees and fixed deposit holders whose banks deduct TDS on interest income.
How to download Form 26AS online
Taxpayers can access Form 26AS through the Income Tax Department’s e-filing portal or through the TRACES platform.
Step-by-step process to download Form 26AS
1. Visit the official Income Tax e-filing portal at Income Tax e-Filing portal
2. Log in using PAN, Aadhaar-linked credentials or user ID and password.
3. After login, click on ‘e-file’.
4. Select ‘Income Tax Returns’ and then choose ‘View Form 26AS’.
5. The portal redirects users to the TRACES website. Click on ‘Proceed’.
6. Select ‘View Tax Credit (Form 26AS)’.
7. Choose the relevant assessment year.
8. Select the preferred viewing format, such as HTML or PDF.
9. Click on ‘View/Download’ and export the file as PDF if needed.
The downloaded file can be viewed directly without requiring a password in most cases.
Can taxpayers access Form 26AS without logging into the tax portal?
Yes. Many banks allow customers to access Form 26AS directly through net banking facilities, provided the PAN is linked to the bank account.
In such cases, taxpayers can:
· Log in to their net banking account
· Navigate to the tax services or tax credit section
· Select Form 26AS or AIS
· Access or download the statement
This option is often used by taxpayers who want quick access without separately logging into the income tax portal.
What taxpayers should check before filing returns
Before submitting an ITR, taxpayers should carefully cross-check:
· Salary income details
· Interest income from bank deposits
· TDS deducted by employers or banks
· Capital gains entries
· Mutual fund transactions
· Refund details
· High-value transaction reporting
If any discrepancy appears in AIS or Form 26AS, taxpayers can submit online feedback through the portal. Experts say this step is important because incorrect entries may lead to scrutiny later.