Avoid Income Tax Notices: Anushka Rathod Shares Key AIS Verification Tip

Finance influencer Anushka Rathod has shared an important reminder for salaried employees ahead of the Income Tax Return (ITR) filing season. According to her, taxpayers should verify their details on the Income Tax portal before filing returns to avoid future issues with the tax department.

She explained that many people file their returns without checking their Annual Information Statement (AIS), which can lead to mismatches and potential notices from the Income Tax Department.

What Is AIS?

AIS, or Annual Information Statement, is a detailed record of your financial transactions during the financial year. It includes information reported by:

• Employers
• Banks
• Mutual fund companies
• Financial institutions
• Other reporting entities

You can think of AIS as a complete financial report card that helps the government track your income and tax-related transactions.

Why Checking AIS Is Important

Even if you file your ITR correctly, a mismatch between the information in your return and your AIS can create problems later.

Possible consequences include:

• Income Tax notices
• Refund delays
• Additional verification requests
• Requirement to revise your tax return

Since most employers, banks, mutual funds, and other institutions submit FY 2025-26 data during May and June, AIS records may take some time to be fully updated.

Documents You Should Collect Before Filing ITR

Before downloading and checking your AIS, gather the following documents:

• Form 16 from your employer
• Bank statements
• Mutual fund statements
• Fixed Deposit (FD) interest details
• TDS certificates
• TCS receipts
• Other investment-related documents

Having these documents ready will help you compare the information accurately.

How to Verify Your AIS

Follow these simple steps:

Step 1: Download Your AIS

Log in to the Income Tax portal and download your Annual Information Statement.

Step 2: Match the Details

Compare the AIS data with:

• Form 16
• Bank statements
• Investment records
• TDS and TCS documents

Step 3: Check for Errors

Look for:

• Duplicate transactions
• Missing transactions
• Incorrect amounts
• Missing TDS or TCS entries

Step 4: Submit Feedback

If you find any discrepancy, submit feedback through the AIS portal. You may be asked to provide supporting documents and additional information for verification.

Don't Ignore TDS and TCS Entries

Many taxpayers assume TDS is deducted only from salary, but that is not true.

Examples include:

• 10% TDS on FD interest above ₹50,000 for non-senior citizens
• 2% TCS on overseas tour packages
• 1% TCS on purchase of cars worth more than ₹10 lakh

Make sure these deductions are reflected correctly in your tax records.

Form 26AS and AIS Update

For previous financial years, taxpayers could use Form 26AS to view TDS, TCS, and advance tax details.

From the current financial year onwards, the government has consolidated Form 26AS and AIS into Form 168, making tax information easier to access and verify in one place.

Before filing your ITR, take a few minutes to review your AIS carefully. Matching your Form 16, bank statements, investment records, and tax deduction details with the information available on the Income Tax portal can help you avoid notices, refund delays, and unnecessary corrections later. A simple verification today can save significant trouble in the future.

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