Form 168 (AIS) for Tax Year 2026-27 is Now Available

Form 168 (Annual Information Statement) for Tax Year 2026-27 is Now Available

The Income Tax Department has made Form 168 (Annual Information Statement) available on the Compliance Portal for Tax Year 2026-27. This marks the transition from the erstwhile Form 26AS/Annual Information Statement framework to Form 168 under the Income Tax Act, 2025.

What is Form 168?

Form 168 is a comprehensive tax information statement containing TDS/TCS details, Advance tax and self-assessment tax payments, Specified Financial Transactions (SFT), High-value financial transactions, Refunds and tax demands, Pending and completed proceedings and other information available with the Income Tax Department

What Taxpayers Should Do

• Log in to the Income-tax e-Filing/Compliance Portal.
• Select Tax Year 2026-27.
• Download and review Annual Information Statement (Form 168).
• Compare the information with Books of account, Form 16/Form 16A, Bank interest certificates, Capital gains statements, dividend statements, and Foreign income/assets disclosures, if applicable
• Verify Tax Deducted at Source / Tax Collected at Source credits and specified financial transactions before filing the return.

Information Available in Form 168

• Form 168 contains comprehensive financial and tax information such as Tax Deducted at Source / Tax Collected at Source details, advance tax and self-assessment tax payments, high-value financial transactions, refunds and tax demands, pending and completed proceedings, and other information available with the Income Tax Dept.
• Form 168 has become the central tax information statement under the Income Tax Act, 2025, and careful reconciliation of AIS before filing the return is now more important than ever.

Transition from the Income Tax Act, 1961, to the Income Tax Act, 2025

Particulars	Income Tax Act, 1961	Income Tax Act, 2025
Nomenclature	Form 26AS & Annual Information Statement	Form 168 (Annual Information Statement)
Governing Section	Section 285BB	Section 510/606*
Relevant Rule	Rule 114-I	Rule 245
Reference Period	Financial Year (FY) & Assessment Year (AY)	Tax Year

* Taxpayers should refer to the latest official notifications and rules issued under the Income Tax Act, 2025 for the applicable section numbering.

Why AIS (Form 168) is Important

Form 168 contains information received from various reporting entities such as Banks, employers, mutual fund companies, stockbrokers, property registrars, and other government and financial institutions.

The statement generally includes Tax Deducted at Source / Tax Collected at Source details, interest income, dividend income, capital gains transactions, specified financial transactions (SFT), tax payments, refunds and demands, and information relating to proceedings and compliance matters.

Although Form 168 has been introduced, for the current return filing cycle relating to FY 2025-26 / AY 2026-27, taxpayers must continue to review the information available in AIS relating to income earned from 1 April 2025 to 31 March 2026, since this information remains crucial for filing the income tax return accurately.

What If There Is an Error in the Annual Information Statement?

• AIS may sometimes contain missing transactions, duplicate entries, incorrect amounts, incorrect classification of income, and delayed reporting by reporting entities.
• Therefore, taxpayers should not rely solely on the Annual Information Statement while preparing the ITR. The responsibility to disclose correct income remains with the taxpayer irrespective of whether the information appears in AIS or not.

How to Submit Feedback in an Annual Information Statement?

If any information is incorrect:

1. Login to the Income-tax Portal.
2. Open the Annual Information Statement (Form 168) section.
3. Select the relevant information category.
4. Expand the transaction.
5. Click “Optional” / Feedback.
6. Select the appropriate feedback type.
7. Submit the correction request.

Once feedback is submitted:

• The original reported value remains visible.
• Modified value appears after considering taxpayer feedback.
• Revised figures are reflected in the Taxpayer Information Summary.
• TIS values are used for income tax return pre-filling.

New Annual Information Statement Feedback Confirmation Status

The income tax department now displays the status of feedback shared with the reporting source.

Field	Meaning
Whether Feedback is Shared	Whether the reporting entity has received the feedback
Feedback Shared On	Date of communication
Source Responded On	Date of response by reporting entity
Source Response	Accepted / Partially Accepted / Rejected / Correction Required

This increases transparency and allows taxpayers to track the progress of AIS corrections.

Taxpayers Should Review Before Filing ITR

Before filing the income tax return, taxpayers should download Form 168 (Annual Information Statement), reconcile all tax deducted at Source / tax collected at source entries, verify interest income and dividend income, check capital gains reporting, review high-value / statement of financial transaction transactions, and verify foreign income and foreign assets information, wherever applicable, and submit feedback immediately for any incorrect information appearing in the Annual Information Statement.

Why is annual information statement reconciliation important? 

Form 168 (Annual Information Statement) is now the primary annual tax information statement under the Income Tax Act, 2025. Taxpayers should carefully review and reconcile Form 168 before filing their income tax return. Accurate reconciliation and prompt feedback on discrepancies are essential for smooth and compliant income tax return filing.

Annual Information Statement data is increasingly being used by the Income Tax Department for ITR pre-filling, risk assessment, mismatch detection, and compliance monitoring. The revised figures after taxpayer feedback are reflected in the Taxpayer Information Summary and are considered while filing the return.

AIS data is increasingly being used by the Income Tax Department for income tax return pre-filling, Risk assessment, mismatch detection, and Compliance monitoring. Any feedback provided by taxpayers is reflected in the Taxpayer Information Summary, and the revised figures may be considered while filing the return.

Before Filing Income Tax Returns, Taxpayers Should:

• Download Form 168 (Annual Information Statement).
• Verify all TDS/TCS entries.
• Check interest and dividend income.
• Reconcile capital gains transactions.
• Review high-value transactions reported under Statement of Financial Transactions.
• Verify foreign income and foreign asset information, wherever applicable.
• Submit feedback immediately for any incorrect information appearing in AIS.

Annual Information Statement AIS Mobile App

The Income Tax Department also provides an AIS Mobile App, enabling taxpayers to view Annual Information Statement information, access Taxpayer Information Summary summaries, verify reported transactions, and submit feedback directly through mobile devices.

Consequences of Ignoring Annual Information Statement Mismatches

Failure to reconcile the Annual Information Statement may result in mismatch notices, additional tax demands, interest liability, and penalty proceedings for under-reporting of income. However, taxpayers must disclose all taxable income in their Input tax return even if such income is not reflected in the annual information statement. Taxpayers should compare annual information statement data with books of account, bank statements, Form 16/Form 16A, capital gains statements, and other financial records.

Timely review and reconciliation of Form 168 (Annual Information Statement) can help avoid notices, mismatches, and delays in processing of income tax returns. Accurate reconciliation and prompt feedback on discrepancies are essential for smooth and compliant income tax return filing.

Taxpayers should carefully compare Annual Information Statement data with their books of account, bank statements, Form 16/Form 16A, capital gains statements, and other financial records before filing the return. Timely reconciliation of Annual Information Statement (Form 168) can help avoid notices, mismatches, and delays in processing of returns

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