Form 26AS shows the tax deducted or collected at source against your PAN, while the Annual Information Statement (AIS) adds what banks, fund registrars and depositories reported about you: FD interest, dividends, and sales of shares and mutual fund units. If you have investments, AIS is the one to read before 15 December, because a large interest line or a fund sale can push the tax left after TDS past ₹10,000, and then 75% of it, including tax on gains already made, is due by that date. At a ₹32 lakh salary, ₹1,20,000 of FD interest alone leaves ₹25,440 to pay after the bank's TDS.

What does each statement show?

Form 26AS, on TRACES, has shown only TDS and TCS since AY 2023-24: your employer's salary TDS, the 10% a bank deducts (20% without a PAN) once your FD interest with it crosses ₹50,000 in a year, TDS on dividends, and any TCS collected when you send money abroad. US stocks from India and TCS shows how to claim that TCS back.

AIS, under your login on the income tax e-filing portal, carries those TDS lines plus what reporting entities send in: interest, dividends, sales of shares and fund units, property deals, and the advance tax you have paid. Its Taxpayer Information Summary (TIS) adds these up into totals for salary, interest, dividends and capital gains.

For a salary-only filer, both statements match Form 16 (Form No. 130 from FY 2026-27). With investments, AIS holds lines no employer's TDS has covered.

What did Kiran's AIS show in November?

Kiran earns a gross salary of ₹32 lakh under the new regime, which puts her in the 30% slab. Her employer's TDS covers her salary and nothing else.

Once her bank's TDS statement for July to September, due by 31 October, is loaded, her AIS for FY 2026-27 shows FD interest of ₹60,000 from April to September, with ₹6,000 of TDS. Her deposits will pay about ₹1,20,000 for the year, with ₹12,000 of TDS. At 31.2% (30% plus 4% cess) the tax on that interest is ₹37,440, so ₹25,440 is still due.

The second line is a ₹4,00,000 redemption in July from a debt fund she bought in May 2024 for ₹3,50,000. It reaches AIS once the registrar's 31 October statement is loaded, at the ₹4,00,000 sale value with an estimated cost beside it. No tax was deducted on it. The tax is on the ₹50,000 gain, at her slab, because the units were bought on or after 1 April 2023: ₹15,600, as mutual fund capital gains tax works out. If her return leaves it out, AIS still shows a ₹4,00,000 sale that nothing in the return matches, though only the ₹50,000 gain is taxed.

₹25,440 plus ₹15,600 makes ₹41,040 after TDS, past the ₹10,000 line. Tax on a gain made after an instalment date can wait for the instalments still to come, or 31 March. Her July gain counts from the September instalment, so paying ₹30,780 by 15 December, 75% of ₹41,040, avoids ₹921 under section 425 of the Income-tax Act, 2025 (section 234C of the 1961 Act). That charge is 1% a month for three months on ₹30,780 rounded down to ₹30,700. What missing the June and September instalments costs is worked in advance tax for salaried.

How much tax is left at other salaries?

The same ₹1,20,000 of FD interest, with ₹12,000 of TDS, under the new regime for FY 2026-27:

Gross salary Slab on the interest Tax with cess Left after TDS
₹15 lakh 15% ₹18,720 ₹6,720
₹18 lakh 20% ₹24,960 ₹12,960
₹22 lakh 25% ₹31,200 ₹19,200
₹32 lakh 30% ₹37,440 ₹25,440

At ₹15 lakh the interest alone stays under ₹10,000; from ₹18 lakh it crosses on its own. The 10% TDS is about a third of what the 30% slab charges, as the FD vs mutual funds guide shows.

How do you give AIS feedback on a wrong line?

Open AIS, select the line and choose Give Feedback. You can mark it incorrect and enter the right figure, mark it a duplicate, or say it is not yours. If the same fund sale appears twice, once from the registrar and once from your depository, mark one copy as a duplicate so TIS does not count it twice.

For a fund sale, check the estimated cost, because the gain is worked out from it; you can change it in the return, using your account statement.

When does AIS update with new lines?

TDS lines arrive each quarter, after your bank and employer file their TDS statements. Registrars and depositories report fund and share sales twice a year: April to September sales by 31 October, and October to March sales by 30 April. A line can take up to three months more to show in AIS. So work each sale's tax from your account statement: a sale on or before 15 December belongs in the 15 December instalment even if AIS does not show it yet, and a later one in the 15 March instalment, or by 31 March.

Check the full year's AIS before filing by 31 July 2027. If you changed jobs, match each employer's TDS line too, as two Form 16s in one year explains.

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Frequently asked questions

Under a new number: from tax year 2026-27 (FY 2026-27) the Income-tax Rules, 2026 prescribe the statement as Form 168, which the tax department's own FAQ heads "Earlier Form No. 26 AS" and describes as the Annual Information Statement. Statements for FY 2025-26 and earlier keep the old names, and what you check in them is the same.
No. Feedback tells the department that a line is wrong, duplicated or not yours, and the Taxpayer Information Summary is updated once the department processes it. Your tax is still worked out in your return, on your actual income.
Yes. AIS shows only what others have reported so far, so interest or a fund sale not yet reported, or rent from a tenant, can be missing. All actual income goes in the return whether or not AIS shows it.

This is general information for salaried individuals in India, not personalised financial advice.