By Admin 
If you are a tax payers, then you must have been engaged in completing the process of filing income tax returns for the financial year 2024-25. Before the income tax return, it is important that you are aware of some things, only then you will be able to fill it properly with all the information. Along with this, you should also know about all the forms which are collected by it. In this, detailed information is required in apart from your own salary and income related information. In such a situation, today we are going to tell you about the three forms, whose taxpayers should know, these are Form 16, Annual Information Statement (AIS) and Form 26AS.
First of all, let’s talk about what is Form 16?
Form 16 is given by the employer company after the end of every financial year on or before 15 June. In this, how much amount came into the account as a salary during the entire financial year and how much TDS was detailed, all of them have a detailed details. It is also a kind of evidence that after all, how much money has been given to the government as TDS from the employer company.
Form 16 has two parts, one A and the other b. Only information about TDS is given inside Form A. Whereas in the party B, there is complete detailed information about the complete break up, deduction and net taxable income of Salary. For every salaried, Form 16 is compulsorily taken. In this, you have to ensure that complete information of income is given correctly and there should be no missing while filling the form.
What is Form 26AS
Now let’s talk about Form 26AS. This form is also known as a tax credit statement. With income and expenditure on this firm, the entire details of the bank and the company are given. All the information that is deducted in the form of tax within the form is all. This includes TDS deducted from salary, interest on income, sale of property, advance tax payment and assessment tax. This form helps in calculating 26AS tax. Through this, you can also check whether the tax deducted on your behalf has been deposited in the government account on time.
What is AIS
AIS i.e. Annual statement statement was launched by the Income Tax Department in the year 2021. There is complete information about the whole year’s account activity. It contains information about your various sources like wages, interest, dividends, mutual fund transactions, securities, high transactions etc. It can be done to meet your income properly using the e-filing portal and assist manager of income tax. If any kind of union is not done properly in your ITR and AIS, then you can be asked questions from the Income Tax Department.
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