How to Compare AIS With Bank Statements?
To compare AIS with bank statements, match reported interest, dividends, tax deducted, and other relevant transactions with the corresponding bank records. Investigate differences before preparing the ITR.
Quick Answer
Use bank statements to verify interest, dividends, TDS/TCS and other relevant amounts shown in AIS. Investigate differences rather than forcing the two sources to match.
Start With All Relevant Bank Accounts
Collect statements for the accounts relevant to the tax year. Do not rely on a single account if you have multiple savings, current, deposit, or other accounts.
Compare Interest and Dividend Information
Match interest and dividend amounts shown in AIS with the corresponding bank or investment records. Check whether amounts relate to the same period and whether any entries have been reported more than once.
Compare TDS Information
Where tax has been deducted, compare the relevant TDS information with the tax statement and supporting certificate or account statement available to you.
Investigate Differences
A difference may result from timing, reporting periods, duplicate information, or differences between transaction and tax reporting dates. Identify the reason rather than simply forcing the figures to match.
Create a Reconciliation Record
For material differences, maintain a simple reconciliation showing the AIS amount, your record, the difference, the reason, and the action taken.
Frequently Asked Questions
Should every bank transaction appear in AIS?
No. AIS should not be treated as a complete bank ledger. Use your bank statements and other records to identify the full income relevant to the ITR.
What if AIS interest is different from my bank statement?
Check the reporting period, account, amount, and tax information. Investigate the reason before deciding how the amount should be reported.
Can EZTax reconcile AIS and bank-related tax information?
EZTax can assist with reconciliation of available tax information and taxpayer-provided records as part of the ITR preparation workflow.
Related EZTax Resources
- What Is AIS (Annual Information Statement) in Income Tax?
- AIS vs Form 26AS: What Is the Difference?
- How to Correct Incorrect Information in AIS
- How to Check AIS Before Filing Your ITR
- AIS Reconciliation and AI-Powered Income Tax Filing with EZTax
Official Source
For current AIS information and taxpayer guidance, refer to the Income Tax Department's AIS resources and FAQ.
