Filing income tax returns can sometimes get tricky, especially when your own records do not match the figures shown in the Annual Information Statement (AIS) or the Total Income Summary (TIS).
One common area of confusion for many taxpayers is dividend income from shares and mutual funds.
Many investors maintain their own records of dividends received, often in an Excel sheet or through bank statements. But when they try to reconcile these figures with the AIS/TIS downloaded from the Income Tax portal, the numbers do not always match. The question then arises:
WHAT THE EXPERTS SAY
According to tax experts, the correct amount to be reported in your ITR is the gross dividend declared by the company or mutual fund during the financial year, reported Money Control. This is the amount before tax is deducted at source (TDS).
The confusion usually comes from the fact that the bank account shows the net dividend, i.e., the amount after TDS, while the AIS/TIS may show both gross dividend and TDS deducted under Section 194 or other provisions. Meanwhile, the TDS/TCS entry only shows the tax deducted, not the full income.
WHY MISMATCHES HAPPEN
Dividend details in the AIS are compiled from data shared by companies, registrars, or depositories.
At times, the timing of credit or classification of dividends may vary, which leads to a mismatch with your personal records.
HOW TO REPORT CORRECTLY
For ITR filing, you must report the gross dividend income declared/credited during the year and claim TDS credit separately, as reflected in Form 26AS or AIS/TIS.
Thereafter, reconcile figures with your own records and the statements issued by companies or mutual funds.
WHAT IF THE MISMATCH CONTINUES?
If you still find a discrepancy even after checking your records and statements, you can use the feedback option on the AIS portal.
This allows you to mark the entry as incorrect or not matching, and the system lets you correct multiple transactions in one go.