As tax compliance becomes more technology-driven, the Income Tax Department has introduced tools such as the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS). These tools aim to make tax return filing more transparent and accurate by auto-populating taxpayer data from multiple sources.
However, mismatches or inaccuracies in AIS and TIS are common and, if left unresolved, can lead to incorrect tax filings, notices, or penalties. This article explains what AIS and TIS are, why mismatches occur, and how to correct them before filing your ITR.
Understanding AIS and TIS
✅ Annual Information Statement (AIS)
AIS provides a comprehensive record of your financial transactions, compiled from sources like banks, mutual fund companies, employers, and other reporting entities. It includes:
- Salary and pension income
- Interest on savings and fixed deposits
- Dividends
- Stock and mutual fund transactions
- Property transactions
- Foreign remittances
- TDS/TCS details
- GST turnover (in some cases)
✅ Taxpayer Information Summary (TIS)
TIS offers a summary of the data in AIS. It presents both processed and derived values that may be used to auto-fill your ITR.
Why Do AIS-TIS Mismatches Occur?
A mismatch happens when AIS or TIS shows incorrect, duplicate, or unrelated data compared to your actual income records. Common mismatch issues include:
- Excess interest income reported
- TDS credited to the wrong PAN
- Duplicate entries for the same transaction
- Incorrect capital gains data
- Transactions belonging to another taxpayer
Filing ITR without resolving these mismatches may result in:
- Income tax demand
- Notices under Section 143(1)(a) or 139(9)
- Scrutiny or reassessment proceedings
Steps to Correct AIS & TIS Mismatches
✅ Step 1: Access the AIS Portal
- Visit www.incometax.gov.in
- Login using your PAN and password
- Go to Services →Annual Information Statement (AIS)
- You will be redirected to the AIS portal
✅ Step 2: Download AIS and TIS
- View and download the AIS and TIS in HTML or PDF
- Compare the information with your Form 16, Form 16A, bank statements, and broker reports
✅ Step 3: Identify Discrepancies
Look out for:
- Duplicate or extra entries
- Incorrect amounts
- Missing TDS credits
- Transactions unrelated to your PAN
✅ Step 4: Submit Feedback
- Click “Submit Feedback”next to the incorrect entry
- Choose the applicable reason (e.g., “Information is not fully correct,” “Duplicate,” etc.)
- Enter the correct amount and explanation
- Submit and save the acknowledgment
✅ Step 5: Wait for Update
The AIS will be updated if the feedback is accepted. You can file your ITR after correction or proceed with an explanation if the correction isn’t reflected in time.
Points to Remember
- Always verify AIS and TIS before filing your ITR
- Compare with Form 26AS and give feedback if differences exist
- Mismatches can delay refunds or trigger unnecessary scrutiny
- Particularly important for salaried individuals, NRIs, and senior citizens
Conclusion
AIS and TIS are useful tools for streamlining income tax filing, but discrepancies in the data are not uncommon. As a responsible taxpayer, it’s important to verify all entries, submit corrections where needed, and file your return only after confirming accuracy.
If you have any further questions or need assistance, feel free to reach out to us at admin@ushmaassociates.com or info@nricaservices.com, or contact us via call/WhatsApp at +91 9910075924.
Stay Updated, Stay Compliant!
Disclaimer: Aim of this article is to give basic knowledge about the topic to people who are not in touch with Indian tax norms. When anybody is dealing with these kinds of cases practically, he shall consider all relevant provisions of all applicable Laws like FEMA/Income Tax/RBI /Companies Act etc.