AIS & Form 26AS Explained — What Each Entry Means

What it shows: Salary paid by each employer in the year, as reported in their TDS returns.

In your ITR: Income from salary — match the total with every Form 16.

Watch out: Two employers? Both must appear in your return. If an entry is wrong, ask the employer to correct their TDS return.

What it shows: Interest credited to your savings accounts by each bank.

In your ITR: Income from other sources (deduction 80TTA up to ₹10,000, or 80TTB for seniors, in the old regime).

Watch out: Many people forget this small income; it is the most common reason for a mismatch notice.

What it shows: Interest on FDs and RDs, even if not yet paid out (accrued interest is also reported).

In your ITR: Income from other sources, year by year.

Watch out: Show it every year even if the FD matures later. TDS on it is claimed from 26AS.

What it shows: Dividends paid by companies and mutual funds.

In your ITR: Income from other sources, taxed at your slab.

Watch out: Include even small amounts. TDS (10% above ₹10,000) is claimed as credit.

What it shows: Every sale of shares, ETFs or MF units, with sale value and date reported by brokers and registrars.

In your ITR: Capital gains schedule — this needs ITR-2 (or ITR-3 with trading).

Watch out: AIS shows the sale value, not your profit. Use the broker or CAMS/KFintech capital gains statement to report purchase cost too.

What it shows: Property bought or sold above ₹30 lakh, reported by the registrar.

In your ITR: Sale: capital gains. Purchase: not income, but the source of money must be explainable.

Watch out: A property entry without a matching explanation often leads to a 148A notice — keep the sale deed and payment trail ready.

What it shows: Rent on which the tenant deducted TDS.

In your ITR: Income from house property (30% standard deduction allowed).

Watch out: Rent in AIS but not in the return is a mismatch; report it even if the TDS is small.

What it shows: Payments received as a professional or business (TDS under 194C/194J etc.).

In your ITR: Business/profession income — ITR-3 or ITR-4 (presumptive).

Watch out: Total receipts in the return should be at least the AIS total.

What it shows: Turnover you declared in GST returns.

In your ITR: Should match the turnover in your ITR.

Watch out: A GST–ITR difference is a common scrutiny trigger; explain differences like exempt supplies.

What it shows: Money sent abroad or received from abroad through banks.

In your ITR: Not income by itself; foreign investments go in Schedule FA.

Watch out: Foreign shares or RSUs must be reported in Schedule FA even without income.

What it shows: Cash deposits of ₹10 lakh or more in a year in savings accounts.

In your ITR: Not income by itself — but the source must be explainable.

Watch out: Keep proof of the source (sale of jewellery, business receipts, withdrawals redeposited).

What it shows: Credit card bills paid above reporting limits.

In your ITR: Not income — shows spending.

Watch out: Very high spending compared to declared income can attract questions; ensure income shown supports it.

What it shows: Tax deducted or collected on your income or purchases, by each deductor.

In your ITR: Claimed as tax paid in the return (from 26AS).

Watch out: If TDS is missing, ask the deductor to file/correct their TDS return — otherwise the credit is lost.

What it shows: Refunds issued and outstanding demands for earlier years.

In your ITR: Not income (interest on refund is income).

Watch out: Interest received on an income tax refund is taxable — include it.