The concept of Form 168 of Income Tax Act Explained

The Form 168 of Income Tax Act is the Annual Information Statement prescribed under the Income-tax Rules, 2026. It provides taxpayers with a consolidated view of TDS, TCS, tax payments, specified financial transactions, refunds, demands and certain tax proceedings.

In this blog, you will learn the legal basis of the Form 168 of Income Tax Act, its applicability from Tax Year 2026-27, its connection with the earlier Form 26AS and AIS, the information it contains, and how taxpayers can access and verify it.

What Is Form 168 of Income Tax Act?

The Form 168 of Income Tax Act is an Annual Information Statement uploaded electronically to the registered income tax account of an assessee. It provides a consolidated record of specified tax and financial information available with the Income Tax Department.

The statement may contain information received from:

• Employers and other tax deductors;
• Banks and financial institutions;
• Tax collectors;
• Government departments and authorities;
• Entities reporting specified financial transactions; and
• Other persons required to furnish information under the applicable law.

This list is illustrative and not exhaustive. Rule 245(2) allows the Central Board of Direct Taxes to authorise the inclusion of information received from an officer, authority or body performing a function under any law. It can also cover information received under an international agreement referred to in Section 159 or from another person, where considered appropriate in the interest of revenue.

The Form 168 of Income Tax Act is not an income tax return, TDS certificate or declaration that must be prepared by a taxpayer. It is generated and uploaded by the prescribed income tax authority.

Legal Framework of Form 168

The legal basis of the Form 168 of Income Tax Act is found in Section 510 of the Income-tax Act, 2025, read with Rule 245 of the Income-tax Rules, 2026.

Under Rule 245, the Director General of Income-tax (Systems), or a person authorised by them, must upload Form 168 in the registered account of the assessee.

The relevant information must be uploaded within 90 days from the end of the month in which such information is received by the prescribed authority. This means that the 90-day period is connected to the receipt of information and is not one fixed annual issuance date for the complete statement.

The notified Form 168 contains two broad parts:

• Part A: Particulars of the person, including name, date of birth or incorporation, address, PAN, email address and contact number.
• Part B: Nature of the tax and financial information available for the Tax Year.

The complete legal provisions and prescribed format are available in the official Income-tax Rules, 2026.

When Does Form 168 Become Applicable?

The Form 168 of Income Tax Act applies from Tax Year 2026–27, beginning on 1 April 2026.

The Income-tax Act, 2025 replaced the earlier concepts of “previous year” and “assessment year” with the term “Tax Year” for periods governed by the new Act. Accordingly, income earned from 1 April 2026 to 31 March 2027 falls under Tax Year 2026–27. For a detailed explanation of the change from “Previous Year” and “Assessment Year” to “Tax Year,” refer to the Income Tax Department’s official guidance on the Tax Year concept under the Income-tax Act, 2025.

However, income earned during Financial Year 2025–26 continues to be governed by the Income-tax Act, 1961. The return for that period will be filed for Assessment Year 2026–27 under the old Act, even if it is filed after 1 April 2026.

The transition can be understood as follows:

For most non-salary payments, the applicable TDS law depends on whether the earlier event of credit or payment occurred on or before 31 March 2026 or on or after 1 April 2026. In the case of salary, TDS is generally triggered at the time of payment.

The Income Tax Department has explained this transition in its official TDS Compliance FAQs.

Was Form 168 Previously Form 26AS?

Under the Income-tax Act, 1961, Section 285BB required the prescribed authority to upload an Annual Information Statement in the registered account of the assessee. Rule 114-I prescribed Form 26AS for this purpose. To understand the information covered under the earlier framework, read our detailed guide on Form 26AS under the Income-tax Act, 1961

Therefore, Form 26AS can be described as the statutory predecessor of the Form 168 of Income Tax Act. However, it would not be completely accurate to state that Form 168 is merely the renamed version of Form 26AS.

In recent years, taxpayers accessed two related statements:

• Form 26AS, which primarily displayed TDS, TCS and other tax-related information; and
• AIS, which provided a wider view of financial information and allowed taxpayers to submit feedback.

The earlier annual-information framework was also expanded to include additional data, such as GST-related information. Read how GST return information was reflected in Form 26AS under the old framework.

The Income Tax Department has officially stated that AIS will continue for periods governed by the Income-tax Act, 1961, up to Assessment Year 2026–27. From Tax Year 2026–27, it stands replaced by Form 168 as the evolved Annual Information Statement.

Thus, the legally accurate position is that the Form 168 of Income Tax Act corresponds to the earlier statutory Form 26AS while replacing AIS under the Income-tax Act, 2025 framework. The old legal framework can be verified through the Department’s official explanation of Section 285BB.

Information Available in Form 168

Rule 245 specifies seven categories of information that may appear in the Form 168 of Income Tax Act.

1. Tax Deducted or Collected at Source

Form 168 may display information relating to TDS and TCS reported against the taxpayer’s PAN. This can include tax deducted by employers, banks, tenants, property buyers, customers and other deductors.

Taxpayers should compare these entries with the relevant TDS or TCS certificates issued by the deductor or collector.

2. Specified Financial Transactions

The Form 168 of Income Tax Act may contain information relating to specified financial transactions reported by banks, financial institutions and other prescribed reporting entities.

Depending on the applicable reporting requirements, these may include high-value deposits, investments, purchase or sale of property, securities transactions and other prescribed transactions.

The amount appearing in Form 168 is not necessarily the taxpayer’s taxable income. The tax treatment will depend on the nature of the transaction and the applicable provisions.

3. Payment of Taxes

The statement may contain details of taxes paid by the taxpayer, including applicable advance tax and self-assessment tax payments.

Taxpayers should verify:

• PAN against which tax was paid;
• Tax Year selected;
• Amount and date of payment;
• Nature of tax payment; and
• Challan or payment reference details.

4. Demand and Refund

The Form 168 of Income Tax Act may include details of tax demands raised and refunds issued by the Income Tax Department.

A demand appearing in the statement should be compared with the relevant intimation, assessment order or demand notice. Similarly, the taxpayer should confirm whether the reported refund was received in the registered bank account.

5. Pending Proceedings

The statement may show information relating to pending income tax proceedings. However, such an entry does not replace the notice or official communication issued for that proceeding.

Taxpayers should refer to the relevant notice for the applicable requirement, response deadline and legal consequences.

6. Completed Proceedings

Information relating to completed proceedings may also appear in the Form 168 of Income Tax Act. The relevant assessment order, appellate order or intimation should be referred to for the final result.

7. Other Authorised Information

The CBDT may authorise the inclusion of other information received from a government officer, authority, statutory body, foreign jurisdiction or another reporting person.

This gives the Department the ability to present a wider view of tax-related information available from authorised sources.

Form 168 vs Form 26AS vs AIS

The Form 168 of Income Tax Act should not be treated as identical to either AIS or Form 26AS. The three statements are connected, but their legal framework, period of applicability and presentation differ.

How to Access Form 168

The Form 168 of Income Tax Act will be made available in the taxpayer’s registered account on the official income tax e-filing portal. The Income Tax Department has confirmed that AIS for Assessment Year 2026–27 and Form 168 for Tax Year 2026–27 will be available separately.

A taxpayer may generally follow these steps:

• Visit the official income tax e-filing portal.
• Log in using the registered user ID and password.
• Open the Annual Information Statement facility available in the account.
• Select Tax Year 2026–27 or the relevant subsequent Tax Year.
• View or download Form 168 in the format provided on the portal.

The menu names and navigation may be updated by the Income Tax Department. Taxpayers should follow the options displayed on the portal when accessing the statement.

How to Verify Form 168?

After accessing the Form 168 of Income Tax Act, taxpayers should compare its entries with their records before filing the income tax return.

The statement can be checked against:

• Salary statements and payslips;
• TDS and TCS certificates;
• Bank statements;
• Interest certificates;
• Tax payment challans;
• Capital gains statements;
• Property transaction documents;
• Dividend and investment statements; and
• Tax notices, intimations and assessment orders.

A review may help identify missing TDS, duplicate income, incorrect transaction values, wrong Tax Year selection or entries that belong to another person.

Relationship Between Form 168 and TDS Certificates

The Form 168 of Income Tax Act is a consolidated information statement, while a TDS certificate is issued by a deductor for a particular deduction.

Under Rule 215 of the Income-tax Rules, 2026, the prescribed certificates include:

• Form 130 for salary TDS and other specified cases covered by Rule 215;
• Form 131 for non-salary deductions other than the cases assigned to Forms 130 and 132;
• Form 132 for specified challan-cum-statement transactions reported through Form 141; and
• Form 133 for tax collected at source.

For a detailed explanation of the non-salary TDS certificate, readers can refer to our related blog on Form 131 of Income Tax Act.

Taxpayers should compare the TDS entries in Form 168 with the applicable certificate. However, Form 168 does not replace the certificate issued by the deductor.

What to Do If Form 168 Contains Incorrect Information?

If the Form 168 of Income Tax Act contains an error, the taxpayer should first identify the source that reported the information.

For example, if a TDS amount is incorrect, the taxpayer should contact the relevant employer, bank or deductor and request correction of the underlying TDS statement.

The taxpayer may also use the feedback or correction facility available on the portal, if such a facility is enabled for Form 168. Supporting documents should be preserved to establish the correct amount and nature of the transaction.

Merely entering a different figure in the income tax return may not correct the information reported to the Department. Where required, the reporting entity must revise or correct its original statement. For discrepancies relating to periods governed by the Income-tax Act, 1961, taxpayers may refer to the process for correcting errors in Form 26AS.

Importance of Form 168 While Filing an ITR

Reviewing the Form 168 of Income Tax Act before filing the return may help taxpayers:

• Claim the correct TDS and TCS credit;
• Report taxable income accurately;
• Identify missing or duplicate information;
• Verify advance tax and self-assessment tax;
• Reconcile refunds and outstanding demands; and
• Reduce avoidable mismatches during return processing.

However, taxpayers should not prepare their returns solely based on Form 168. The taxable amount must be calculated according to the applicable law and supporting records.

Does Form 168 Replace Supporting Documents?

The Form 168 of Income Tax Act does not replace books of account, bank statements, tax certificates, invoices, capital gains calculations, tax challans or assessment orders.

A transaction value displayed in the statement may be different from the amount that is taxable. For example, the gross value of a securities or property transaction may appear in the statement, but the taxable capital gain must be calculated after applying the relevant cost and deduction provisions.

Need Professional Assistance with Form 168?

Reviewing the Form 168 of Income Tax Act can become difficult when information is received from multiple deductors or reporting entities.

Ebizfiling can assist individuals and businesses with:

• Reviewing tax and financial information;
• Reconciling TDS, TCS and tax payments;
• Identifying mismatches in reported information;
• Coordinating corrections with the relevant reporting entity; and
• Preparing and filing the applicable income tax return.

Need help reviewing Form 168 or filing your income tax return? Contact Ebizfiling and speak to our tax professionals.

Conclusion

The Form 168 of Income Tax Act is the prescribed Annual Information Statement under Section 510 read with Rule 245 of the Income-tax Rules, 2026. It applies from Tax Year 2026–27 and is described by the Income Tax Department as the evolved version of AIS.

For periods governed by the Income-tax Act, 1961, taxpayers should continue referring to AIS and Form 26AS, as applicable. Before filing a return under the new Act, taxpayers should access the Form 168 of Income Tax Act, reconcile its entries with supporting records and take appropriate action where any information is incorrect or incomplete.

Frequently Asked Questions