ITR Filing 2026: The ITR filing season has begun. Don’t make the mistake of filing your return immediately after receiving Form 16. According to tax experts, it’s important to reconcile your AIS, TIS, and Form 26AS before filing your ITR.
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ITR Filing 2026: Let’s get ready. It’s that time of year for working people when companies start issuing them Form 16. Once they have Form 16 in hand, people rush to file their Income Tax Return (ITR). If you’re thinking the same, wait a minute. Tax experts say that relying solely on Form 16 could land you in trouble. Failure to check your AIS (Annual Information Statement), TIS (Taxpayer Information Summary), and Form 26AS before submitting your return could result in a mismatch notice from the tax department. In this article, let’s understand why these three documents are essential.
Isn’t just Form 16 enough?
Form 16 is a certificate from your employer that details your salary and the TDS deducted. However, it doesn’t include information about interest earned on your bank accounts, earnings from the stock market or mutual funds, or the purchase or sale of any property. This is where the AIS and Form 26AS are entered.
What are AIS, TIS and Form 26AS?
Let’s first discuss Form 26AS. It can be called your tax passbook. It contains complete details of how much TDS or TCS your company or bank has deducted or deposited against your PAN. The Annual Information Statement goes a step further. It includes every small and large amount earned throughout the year, such as interest on savings accounts, fixed deposit earnings, dividends from shares and mutual funds, and profits from their sales. Finally, the Taxpayer Information Summary provides information on your total taxable income.
What will happen if you don’t follow the rules?
Suppose your company listed your total income in Form 16, but it didn’t include the ₹15,000 interest earned on your bank account. The bank, on the other hand, sent this information directly to the Income Tax Department (AIS). If you don’t show this ₹15,000 interest in your ITR, the tax department’s system will detect a mismatch. Consequently, the department will consider this a tax evasion tactic and issue you a notice under Section 143(1).
What to do before filing ITR?
- Upon receiving Form 16, first log in to the Income Tax e-filing portal. From there, download your AIS, TIS, and Form 26AS.
- Check that the tax deducted in Form 16 is reflected in Form 26AS and AIS.
- If any entry in AIS appears that is not yours, such as someone else’s transaction appearing on your PAN, you can report it on the portal.
Additionally, tax experts say it’s best to wait until the end of June, as it takes some time for banks to process TDS returns. Once the AIS and Form 26AS are fully updated, file your ITR with a calm mind, so your refund isn’t stuck and you avoid the hassle of notices.
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