AIS vs Broker Statement: What Taxpayers Should Verify Before Filing ITR for AY 2026-27

The Annual Information Statement (AIS) is an important document for taxpayers as it provides a consolidated view of tax-related information, including tax payments, TDS, TCS, and income from various sources. However, taxpayers should not rely solely on the AIS while filing their Income Tax Return (ITR) for Assessment Year (AY) 2026-27. 

According to The Economic Times, tax experts recommend verifying the information available in the AIS with primary records such as bank statements, broker tax P&L statements, and other financial documents before filing the return. 

What Is the Annual Information Statement (AIS)? 

The AIS is a comprehensive statement that captures tax-related information reported to the Income Tax Department by various entities. The data is sourced from: 

The statement provides details of tax payments, TDS, TCS, interest income, securities transactions, and several other financial activities reported during the financial year. 

Why Should Taxpayers Verify AIS Before Filing ITR? 

While AIS serves as a useful reference, it is considered a secondary source of information. There have been instances where incorrect information appeared in the AIS due to reporting errors by financial institutions or other entities. 

Therefore, taxpayers should reconcile the AIS with primary documents, including: 

Cross-verifying these records can help minimise reporting errors while filing the ITR. 

AIS Includes Stock and Mutual Fund Transactions 

The AIS also contains information related to stock market and mutual fund transactions. It generally includes: 

These details may appear in the AIS even if no TDS has been deducted from the transaction. 

The AIS for a financial year is generally updated by May, after transactions executed in March and reported in April have been processed. 

Read More: ITR Filing AY 2026-27: 5 Things Intraday and F&O Traders Should Know Before Filing Returns

What Should Taxpayers Do Before Filing ITR? 

According to The Economic Times, Neeraj Agarwala, Senior Partner at Nangia & Co LLP, advised taxpayers to download the tax P&L statement from their broker's platform and reconcile it with the information available in the AIS. 

He noted that the broker's tax P&L statement includes brokerage charges, which are allowable as a deduction while computing capital gains. 

Agarwala further recommended preparing an independent capital gains computation before filing the ITR to ensure all transactions, deductions, and the set-off of eligible losses are accurately considered. This process can help reduce errors and improve compliance with income tax requirements. 

ITR Filing Due Date 

For AY 2026-27 (FY 2025-26), the due date for filing ITR for taxpayers not subject to a tax audit is July 31, 2026. 

Conclusion 

The AIS provides a consolidated view of financial information reported to the Income Tax Department, but it should not be treated as the sole source for filing an ITR. Reconciling the AIS with broker tax P&L statements, bank records, and other primary documents can help taxpayers report income accurately and avoid errors in their tax returns. 

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.