ITR Filing: Do not forget to check form 26as and annual information statement before filing ITR

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Income Tax Return: The date for filing income tax return is coming closer. 31st July is the last date for filing ITR. Although you can file return even after this date, but you will have to pay penalty or interest on tax.

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Filing ITR is the legal responsibility of every citizen, but it has many other benefits, so it is important to fill it carefully. Do not forget to check Form 26AS and Annual Information Statement (AIS) before filing ITR, otherwise your refund may get stuck.

Form 26AS

Form 26AS is your annual tax statement, which contains complete details of the tax paid by you. It is linked to your PAN number, so you can get it by visiting the Income Tax Department website.

Form 26AS also contains information about TDS deduction, advance tax deposited by you, self-assessment tax, TCS and refund issued by the Income Tax Department. It also mentions the name of the person/institution deducting the tax, the amount of tax, etc.

Apart from this, details of heavy transactions can also be seen in the form such as payment of life insurance premium of more than 50 thousand, payment of health insurance premium of more than 20 thousand, payment of educational fees or donation of more than 1,00,000, payment of property tax of more than 20,000 etc.

While filing the return, the TDS amount mentioned by you should match with the TDS mentioned in 26AS. Even a slight difference in this can bring you under the scanner of the Income Tax Department. If your return matches with the details shown in 26AS, then the Income Tax Department processes it quickly and it becomes easy for you to get the refund quickly.

Annual Information Statement

Many times while filing Income Tax Return (ITR), we do not remember the previous details. To solve this problem, AIS was introduced in November 2021. You can download it from the official website of Income Tax www.incometax.gov.in . It contains all the information of taxpayers, which the Income Tax Department already has. These are in two parts-

Part A: It contains the general information of the taxpayer such as PAN, Aadhaar number, mobile number, email ID, address, name and date of birth. If there is a company instead of an individual, then the date of establishment of the company is mentioned instead of birth.

Part B: It contains technical information related to your tax.

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