What is an Annual Information Statement (AIS)?

The Annual Information Statement (AIS) is a consolidated financial report available on the Income Tax Department’s e-filing portal. It contains a detailed summary of your financial transactions recorded against your PAN for a specific financial year.

The AIS includes information related to:

• Capital market transactions (equity, derivatives, mutual funds, etc.)
  
  

• Interest income
  
  

• Dividend income
  
  

• Corporate action benefits
  
  

• Other financial transactions reported by banks, brokers, depositories, and other reporting entities
  
  

You can access your AIS by logging in to the income tax portal. The portal also provides FAQs and guidance to help you understand the statement.

Why is AIS important?

The AIS acts as a cross-verification tool for the Income Tax Department and taxpayers. It helps ensure that all income and transactions are correctly reported while filing your Income Tax Return (ITR).

You should always review your AIS before filing returns to:

• Verify that all transactions are correctly reflected
  
  

• Identify missing or incorrect entries
  
  

• Reconcile differences between broker reports and AIS data
  
  

• Avoid mismatches that may lead to notices or scrutiny
  
  

Why AIS data may differ from Allvest reports

It is common to see differences between your AIS and the trading or P&L reports available on Allvest. These differences usually arise due to the following reasons:

• Estimated acquisition price
   The reporting entity may use the best available estimated price for cost of acquisition instead of your actual executed trade price.
  
  

• Use of closing prices
   Purchase and sale transactions in AIS may reflect the day’s closing price, not the actual price at which you executed the trade.
  
  

• Timing differences
   Some transactions may appear in AIS based on reporting timelines, while Allvest reports are generated strictly based on trade execution and settlement data.
  
  

Because of these differences, AIS should be used as a reference document, while broker-generated reports like contract notes, trade books, and tax P&L should be used for precise calculations.

What should you do if you find discrepancies in AIS?

If you notice incorrect or missing entries in your AIS:

• Cross-check the transaction with your Allvest contract notes and tax P&L
  
  

• Use the feedback or correction options available on the income tax portal
  
  

Consult a Chartered Accountant (CA) if the discrepancy affects tax computation