You May Receive Income Tax Notice, No Refund if You Skip These 2 Checks Before Filing Your ITR
By Aaerm Law Associates | May 23, 2025
The Income Tax Department has introduced several measures to simplify tax filing, including pre-filling data from Form 26AS and the Annual Information Statement (AIS) on the e-filing portal. Despite this, taxpayers must still verify these forms before submitting their Income Tax Returns (ITR) to avoid potential notices or delayed refunds.
📌 Understanding Form 26AS and AIS
Form 26AS is a consolidated tax statement linked to your Permanent Account Number (PAN). It includes details such as Tax Deducted at Source (TDS), Tax Collected at Source (TCS), advance tax payments, self-assessment tax, and refunds received. This form helps taxpayers reconcile the taxes paid with their actual tax liability.Business Today
Annual Information Statement (AIS) is an extended version of Form 26AS. It provides comprehensive information about various financial transactions, including interest income, dividends, property transactions, and foreign remittances. AIS serves as a detailed financial profile, aiding in accurate tax filing.
🔍 Why Should You Verify These Forms?
Even though the e-filing portal displays pre-filled data from Form 26AS and AIS, discrepancies can occur. If the information in these forms doesn’t align with your records, it could lead to:
- Income Tax Notices: Mismatch between reported income and the data in Form 26AS or AIS may trigger notices from the tax department.
- Delayed Refunds: Inaccurate tax credit details can result in processing delays, affecting the timely receipt of refunds.
To mitigate these issues, it’s crucial to cross-check the information in Form 26AS and AIS before filing your ITR.
✅ Steps to Verify Form 26AS and AIS
- Access the e-Filing Portal: Visit the official Income Tax e-filing website and log in using your credentials.
- Navigate to Form 26AS: Under the ‘My Account’ section, select ‘View Form 26AS’. Review the details of TDS, TCS, and other tax-related information.
- Review AIS: Similarly, access the AIS section to examine comprehensive financial data, including interest, dividends, and property transactions.
- Compare with Personal Records: Match the information in these forms with your own financial records, such as bank statements, Form 16, and investment documents.
- Report Discrepancies: If you identify any inconsistencies, provide feedback through the e-filing portal. For Form 26AS issues, contact the relevant deductor to rectify the errors.@EconomicTimes
⚠️ Common Mistakes to Avoid
- Overlooking Form 26AS and AIS: Neglecting to verify these forms can lead to unintentional errors in your ITR.
- Ignoring Discrepancies: Failing to address mismatches between your records and the forms can result in notices or delayed refunds.
- Incorrect Bank Details: Providing inaccurate bank information can hinder the refund process.
- Not Updating Personal Information: Ensure that your contact details and other personal information are current to receive timely communication from the tax department.
📅 Important Deadlines
For the Assessment Year 2025-26, the last date to file your ITR is July 31, 2025, for individuals not requiring a tax audit. It’s advisable to complete your verification process well in advance to avoid last-minute complications.
🧾 Conclusion
While the pre-filled data on the e-filing portal simplifies the tax filing process, it’s essential to verify the information in Form 26AS and AIS to ensure accuracy. By diligently cross-checking these forms and addressing any discrepancies, you can prevent potential notices and ensure a smooth refund process.
