Annual Information Statement (AIS)

Introduction

Annual Information Statement is a tax passbook of the assessee which will provide an assessee with the information about the prepaid taxes and prescribed financial transactions entered into during the relevant tax year.

1. About

1.1. What is Annual Information Statement?

This provision provides that the Income-tax authority or any other person authorised in this behalf shall make available an Annual Information Statement to the assessee containing informations of various financial transactions made by him during the year.

1.2. Status of Form 168

Form 168 is a tax passbook which contains information of all taxes paid by or on behalf of an assessee, being TDS, TCS, Advance-tax, Self-assessment tax, etc. The Government is planning to enlarge the scope of Form 168 to cover information regarding various transactions made by a person such as transactions in securities market. These information on one hand will be useful for the Assessing Officers to cross check the details furnished in return of income by taxpayers. On the other hand, taxpayer would be able to easily compute his tax liability and file return as all information would be pre-filled on basis of Form 168.

Rule 245 provides that the Director General of Income-tax (Systems) or any person authorised by him shall, upload such annual information statement in Form No. 168 in the registered account of the assessee within 90 days from the end of the month in which the information is received. Such form shall consist of the following information:

(a) Relating to TDS and TCS;

(b) Relating to Specified Financial Transactions (SFT);

(c) Relating to payment of taxes;

(d) Relating to demand and refund;

(e) Relating to pending proceedings;

(f) Relating to completed proceedings;

(g) Information received from any officer, authority or body performing any functions under any law or information received under an agreement referred under section 159;

(h) Relating to GST return

(i) Foreign remittance reported in Form 147

(j) Information in Annexure-II of the Form 138 of the last quarter;

(k) Information in ITR of another taxpayer (like, HRA);

(l) Interest on Income Tax Refund;

(m) Information in Form 98/165;

(n) Off Market Transactions Reported by Depository/ Registrar and Transfer Agent (RTA);

(o) Information about dividend reported by Registrar and Transfer Agent (RTA);

(p) Information about purchase of mutual fund reported by Registrar and Transfer Agent (RTA); and

(q) Information received from any other person to the extent it may be deemed fit in the interest of the revenue.

The CBDT

References

Order F. NO. 225/155/2020/ITA.II, dated 29-9-2020

Point No. (i) to (p) has been notified Vide Order F.NO.225/155/2020/ITA-II, dated 26-10-2021

Order F. NO. 225/155/2020/ITA.II, dated 29-9-2020 and F.NO.225/155/2020/ITA-II, dated 26-10-2021.

As per Rule 245 of the IT Rules, 2026, the time limit for uploading information in AIS has been changed from 3 months to 90 days from the end of the month in which the information was received. However, in the relevant notifications, there is still no change, so the 90-days period shall be considered for the points referred to in (h) to (p).

This article is general information and not tax advice. Provisions change. Confirm your position with a qualified professional before acting.