Form 168 Income Tax: Replaces Form 26AS (2026 Guide)

If you've been filing income tax returns in India for years, Form 26AS has been your trusted companion—the go-to document for verifying TDS credits, advance tax payments, and refunds. But with the implementation of the New Income Tax Act 2025, a significant change has arrived: Form 168 now replaces Form 26AS as the official Annual Information Statement. For Assessment Year 2026-27 (Financial Year 2025-26), every Indian taxpayer must understand what Form 168 is, how it differs from its predecessor, and how to download it from the updated income tax portal.

This comprehensive guide covers everything you need to know about Form 168—from its legal framework under the Income Tax Act 2025 to step-by-step download instructions, key differences from Form 26AS, and practical tips for using it during ITR filing.

What is Form 168 Under the New Income Tax Act 2025?

Form 168 is the Annual Information Statement (AIS) introduced under the Income Tax Act 2025, serving as the official document that consolidates all tax-related information for a taxpayer. It is the statutory replacement for Form 26AS, which was used under the previous Income Tax Act, 1961.

Form 168 is issued by the Income Tax Department and contains comprehensive details including:

• Tax Deducted at Source (TDS) by employers, banks, and other deductors
• Tax Collected at Source (TCS) on specified transactions
• Advance tax and self-assessment tax payments made by the taxpayer
• Refunds received during the financial year
• High-value financial transactions reported by banks, mutual funds, and other institutions
• Details of foreign remittances and specified financial transactions exceeding prescribed limits

The legal basis for Form 168 comes from Section 285 of the Income Tax Act 2025, which mandates the collection and dissemination of tax information to taxpayers. CBDT notifications issued in December 2025 formalized the transition from Form 26AS to Form 168, making it mandatory for all taxpayers filing returns for AY 2026-27 onwards.

Legal Framework and CBDT Notifications

The Central Board of Direct Taxes (CBDT) issued Notification No. 142/2025 dated December 15, 2025, which officially discontinued Form 26AS and introduced Form 168 as its replacement. This notification aligned with the broader implementation of the New Income Tax Act 2025, which came into effect from April 1, 2026 (FY 2026-27 onwards for most provisions, with transitional provisions for AY 2026-27).

The transition reflects the government's push toward enhanced digital tax administration and greater transparency in financial reporting. Form 168 is designed to work seamlessly with the new Form 26AS / TDS Fetch Tool and other tax automation platforms to simplify ITR preparation.

Key Differences Between Form 168 and Form 26AS

While Form 168 retains the core purpose of Form 26AS—providing a consolidated tax credit statement—it introduces several enhancements that make it more comprehensive and user-friendly. Understanding these differences is crucial for taxpayers transitioning to the new system.

Enhanced Information in Form 168

One of the most significant upgrades in Form 168 is the inclusion of Specified Financial Transactions (SFT) data. This includes:

• Cash deposits and withdrawals exceeding ₹10,00,000 in savings accounts
• Credit card payments exceeding ₹1,00,000 in a month or ₹10,00,000 in a year
• Mutual fund purchases and redemptions above ₹10,00,000
• Purchase or sale of immovable property valued at ₹30,00,000 or more
• Foreign currency purchases exceeding ₹10,00,000
• Cryptocurrency transactions reported by exchanges

This comprehensive data capture helps taxpayers ensure complete income disclosure and reduces the risk of receiving tax notices for unreported income. When combined with the Income Tax Calculator, taxpayers can accurately estimate their tax liability based on verified income sources.

How to Download Form 168: Step-by-Step Process

Downloading Form 168 from the new Income Tax Portal is straightforward, though the portal interface has changed significantly from the old system. Here's the complete process for AY 2026-27:

Step 1: Access the New Income Tax Portal

Visit the official Income Tax Portal at www.incometax.gov.in. Ensure you're on the correct portal—the URL and homepage design were updated in April 2026 to align with the New Income Tax Act 2025. The portal features enhanced security with two-factor authentication mandatory for all users.

Step 2: Login Using Your Credentials

Click on the 'Login' button and enter your credentials. You have three login options:

• PAN-based login: Enter your PAN and password
• Aadhaar-based login: Use Aadhaar OTP authentication
• Digital Signature Certificate (DSC): For corporate taxpayers and tax professionals

For first-time users under the new system, you may need to reset your password and complete a one-time verification using Aadhaar OTP or mobile number linked with your PAN.

Step 3: Navigate to Form 168 Section

After successful login, go to the 'Services' tab in the main navigation menu. From the dropdown, select 'Annual Information Statement (Form 168)'. This replaces the old 'View Form 26AS' option from the previous portal.

Step 4: Select Financial Year and View Type

You'll be prompted to select:

• Financial Year: Choose FY 2025-26 for AY 2026-27 returns
• View Type: Select between 'Summary View' or 'Detailed View'

The Summary View provides an overview of total TDS, TCS, and tax payments, while the Detailed View shows transaction-level information with deductor details, TAN numbers, and dates of deduction. For ITR filing purposes, always download the Detailed View.

Step 5: Review and Verify Information

Form 168 will display on-screen with multiple parts:

• Part A: TDS deducted by deductors (salary, interest, professional fees, etc.)
• Part B: TCS collected by sellers
• Part C: Advance tax and self-assessment tax paid
• Part D: Refunds received
• Part E: High-value transactions and SFT data
• Part F: Pending and completed proceedings

Review each section carefully. If you notice any discrepancies—such as TDS deducted by your employer not appearing, or incorrect PAN details—note them for reconciliation. The portal now includes an 'Online Rectification Request' feature directly within Form 168 view.

Step 6: Download Form 168

Click the 'Download' button at the top right corner of the Form 168 page. You'll have format options:

• PDF format: For printing and record-keeping
• JSON format: For importing into tax software and automated ITR filing tools
• Excel format: For manual reconciliation and calculation

The PDF download is password-protected. The password is your PAN in lowercase followed by your date of birth in DDMMYYYY format. For example, if your PAN is ABCDE1234F and DOB is January 15, 1985, the password would be: abcde1234f15011985

Save the downloaded Form 168 securely as it contains sensitive financial information. You can use the Form 26AS / TDS Fetch Tool on TaxFetch to automatically import and analyze this data for quick ITR preparation.

When Should You Download Form 168 for AY 2026-27?

Timing is crucial when downloading Form 168, as it's updated continuously throughout the financial year and even into the subsequent assessment year as deductors file their returns.

Recommended Download Timeline

First Download - Early May 2026: Download a preliminary version of Form 168 for FY 2025-26 in early May. This gives you an initial picture of your TDS credits, especially if you're planning to file an early return. However, be aware that Q4 (January-March 2026) TDS may not be fully updated yet, as deductors have until May 31, 2026, to file their quarterly TDS returns.

Second Download - Mid-July 2026: This is the optimal time for most salaried taxpayers. By mid-July, employers have typically issued Form 16, and all quarterly TDS returns for FY 2025-26 should be reflected in Form 168. This version will be the most complete for ITR filing purposes.

Final Download - Before ITR Submission: Always download Form 168 one final time immediately before submitting your ITR, especially if you're filing close to the July 31, 2027 deadline (the due date for non-audit cases for AY 2026-27). This ensures you capture any late TDS entries or corrections filed by deductors.

Quarterly vs. Real-Time Updates

Unlike Form 26AS which updated quarterly, Form 168 reflects TDS entries within 7-10 days of the deductor filing their TDS return. This means:

• Salary TDS appears almost immediately after your employer files the monthly/quarterly TDS return
• Bank interest TDS shows up shortly after quarter-end when banks file bulk TDS returns
• Professional fees TDS reflects as soon as clients file their TDS returns

For taxpayers with income from multiple sources, this real-time visibility is invaluable for tax planning. You can calculate your tax liability progressively using the Income Tax Calculator and adjust your advance tax payments accordingly.

Using Form 168 for ITR Filing: Practical Tips

Form 168 is not just a verification document—it's a comprehensive tool that can significantly streamline your ITR filing process for AY 2026-27. Here's how to leverage it effectively:

1. Reconcile TDS Credits Systematically

Create a reconciliation worksheet comparing:

• TDS amounts shown in Form 168 Part A
• TDS amounts mentioned in your Form 16 (for salary income)
• TDS certificates (Form 16A) issued by banks and other deductors
• Your own records of income received

Any mismatch needs investigation. Common issues include incorrect PAN quoted by deductor, TDS deducted but return not filed by deductor, or wrong financial year selection. The new portal allows you to raise grievances directly through the 'Report Issue' feature in Form 168.

2. Verify High-Value Transaction Data

Part E of Form 168 contains high-value transaction data reported by banks and financial institutions. Cross-verify this with your records:

• Ensure all large deposits have legitimate sources (salary credit, business receipts, loan proceeds, etc.)
• Match mutual fund transactions with your investment statements
• Verify property transactions if you bought or sold real estate during FY 2025-26

If legitimate transactions are flagged, ensure you have supporting documentation ready in case of scrutiny. For property transactions, capital gains should be calculated using the Capital Gain Calculator to determine the correct tax liability.

3. Leverage Auto-Population Features

When you start filling your ITR for AY 2026-27 on the new portal, Form 168 data automatically pre-fills relevant fields in your return. This includes:

• Salary income details in ITR-1 or ITR-2
• Interest income from banks
• Dividend income with TDS details
• Capital gains from securities

Review the auto-populated data carefully. While the accuracy rate has improved to over 95% with Form 168, you're ultimately responsible for the correctness of your return. Make manual corrections where necessary.

4. Track Refund Status

Part D of Form 168 shows refunds issued by the Income Tax Department. If you filed returns for previous years and were expecting refunds, verify:

• Refund amount matches your ITR calculation
• Refund has been credited to your bank account
• Interest on delayed refund (if applicable) is correctly calculated

For salaried employees with straightforward tax situations, combining Form 168 verification with TaxFetch's Form 26AS / TDS Fetch Tool can reduce ITR preparation time from hours to minutes.

Common Issues and Troubleshooting

Missing TDS Entries in Form 168

If you know TDS was deducted but it doesn't appear in Form 168:

• Wait for deductor to file return: TDS shows up only after the deductor files their TDS return with correct details
• Check PAN details: Ensure the deductor used your correct PAN. Even a small error prevents credit
• Contact the deductor: Request them to file a correction statement if wrong PAN or amount was reported
• File a grievance: Use the 'Report Issue' feature on the portal if the deductor has filed correctly but credit still doesn't appear

Incorrect or Duplicate Entries

Sometimes Form 168 shows duplicate TDS entries or incorrect amounts. This typically happens when:

• Deductor filed an original return and then a correction, both showing up separately
• TDS was deducted in one quarter but reported in another
• Clerical errors by the deductor in their TDS return

Don't panic—during ITR filing, claim only the correct TDS amount based on your actual certificates and Form 16. Include an explanation in the 'Additional Information' field of your ITR. The Centralized Processing Center (CPC) will verify during processing.

Portal Access Issues

If you're unable to log in or access Form 168:

• Ensure your PAN is linked with Aadhaar—this is mandatory from FY 2025-26
• Clear browser cache or try a different browser (Chrome and Edge work best with the new portal)
• Reset your password using the 'Forgot Password' option
• Contact the helpdesk at 1800-180-1961 (toll-free) for technical support

Implications for Different Taxpayer Categories

Salaried Employees

For salaried individuals, Form 168 consolidates TDS from employers with other income sources like bank interest, freelance income, or rental income. Key advantages:

• Easy verification of employer TDS against Form 16
• Automatic capture of bank interest TDS
• Visibility of any other TDS deducted during the year

Most salaried taxpayers with income up to ₹15,00,000 can complete their ITR-1 filing in under 30 minutes by downloading Form 168 and using the auto-fill feature on the portal.

Freelancers and Professionals

For professionals receiving income from multiple clients, Form 168 Part A becomes crucial. It shows:

• TDS deducted by each client under Section 194J (professional fees)
• Client's TAN and PAN for identification
• Date and amount of each TDS deduction

Cross-verify this with your invoices and Form 16A certificates. Any missing TDS should be followed up with clients immediately, as you can claim credit only for TDS actually deposited with the government. Calculate your total tax liability using the Income Tax Calculator to ensure adequate advance tax payment.

Business Owners and Traders

For business taxpayers, Form 168 provides both TDS (Part A) and TCS (Part B) information. Additionally, Part E shows high-value transactions that may require explanation:

• Large cash deposits should match business receipts
• Credit card payments for business expenses should be documented
• GST turnover and income tax turnover should be reasonably correlated

Business owners should download Form 168 quarterly for proactive tax planning rather than waiting until year-end. If you're trading in equity markets, use the Stock Profit Calculator to determine capital gains accurately.

Privacy and Data Security in Form 168

Given the expanded scope of information in Form 168, data security is paramount. The Income Tax Department has implemented several measures:

• Two-factor authentication: Mandatory for all portal logins
• Password-protected downloads: All PDF files are encrypted
• Session timeout: Automatic logout after 15 minutes of inactivity
• Audit trail: All download activities are logged and monitored
• Data encryption: End-to-end encryption for data transmission

As a taxpayer, you should:

• Never share your portal credentials with anyone, including tax consultants (use the 'Authorize CA' feature instead)
• Download Form 168 only on secure, private networks—avoid public Wi-Fi
• Store downloaded files in password-protected folders
• Regularly update your registered mobile number and email for security alerts

Frequently Asked Questions About Form 168

Is Form 26AS still valid after the introduction of Form 168?

No, Form 26AS is no longer issued under the New Income Tax Act 2025. From FY 2025-26 (AY 2026-27) onwards, Form 168 has completely replaced Form 26AS as the official Annual Information Statement. All taxpayers must use Form 168 to verify their tax credits, TDS deductions, and advance tax payments for ITR filing. The transition was mandated through CBDT notifications issued in late 2025.

Can I download Form 168 from the old income tax portal?

No, Form 168 is available only on the new Income Tax Portal aligned with the Income Tax Act 2025. The portal has been redesigned with enhanced security features and improved user interface. Taxpayers must log in using their PAN, Aadhaar-based authentication, or digital signature to access Form 168. The old portal for the previous tax regime has been archived and does not provide access to Form 168.

What additional information does Form 168 contain compared to Form 26AS?

Form 168 includes all information from Form 26AS plus additional data such as high-value transactions reported by banks and financial institutions, detailed mutual fund transactions, foreign remittances, dividend income with source details, and cryptocurrency transaction summaries. It provides a more comprehensive view of financial activities, helping taxpayers reconcile their income sources more accurately. This enhanced disclosure reduces ITR processing time and minimizes tax notices.

How often is Form 168 updated on the income tax portal?

Form 168 is updated in near real-time, typically within 7-10 days of tax deduction or collection by the deductor. This is a significant improvement over Form 26AS, which had quarterly update cycles. Taxpayers can view provisional entries as soon as deductors file their TDS returns. The final version for the financial year is locked after July 31st of the assessment year, allowing time for all deductors to file their annual TDS statements.

Do I need to download Form 168 before filing my ITR for AY 2026-27?

Yes, downloading and reviewing Form 168 is essential before filing your Income Tax Return for AY 2026-27. It helps verify that all TDS deductions, advance tax payments, and self-assessment tax are correctly reflected in your tax credit ledger. Any mismatches between your records and Form 168 should be reconciled before ITR submission. Many tax professionals recommend downloading Form 168 at least twice—once in May and again in July—to ensure all quarterly TDS entries are captured.

Conclusion: Embracing the Form 168 Era

The transition from Form 26AS to Form 168 represents more than just a name change—it's a fundamental upgrade in how Indian taxpayers access and utilize their tax information. With real-time updates, comprehensive transaction data, and seamless integration with ITR forms, Form 168 makes tax compliance more transparent and efficient for AY 2026-27 and beyond.

Whether you're a salaried employee, freelancer, or business owner, understanding how to download and interpret Form 168 is essential for accurate ITR filing. Take advantage of the enhanced features, reconcile your data carefully, and leverage the automated tools available on the new Income Tax Portal.

Ready to simplify your tax filing for AY 2026-27? Explore TaxFetch's comprehensive suite of tax tools including automated Form 168 analysis, ITR pre-filling, and instant tax calculations. Make this tax season your smoothest yet with TaxFetch India—your partner in stress-free tax compliance.