The Income Tax Department has rolled out Form 168 as part of the Income-tax Rules, 2026, introducing a more detailed annual tax information statement for taxpayers. The move has sparked questions among individuals and businesses alike, particularly around whether the familiar Form 26AS has now been phased out. While Form 26AS has long served as a key document for tracking tax credits and deductions, Form 168 significantly expands the scope of information available to taxpayers by consolidating multiple tax-related records into a single statement.
Form 168 is an annual tax information statement linked to a taxpayer’s Permanent Account Number (PAN). It is designed to provide a comprehensive overview of tax payments, income disclosures, financial transactions, refunds, tax demands and compliance-related information.
The objective is to give taxpayers a clearer picture of their tax profile while enabling the Income Tax Department to cross-verify information submitted through various reporting channels.
The Statement Includes Details Related To:
Tax Deducted at Source (TDS)
Tax Collected at Source (TCS)
Advance tax, self-assessment tax and regular tax payments
Specified Financial Transactions (SFTs)
Tax refunds and outstanding demands
Ongoing and completed tax proceedings
Other information prescribed under Rule 245 of the Income-tax Rules, 2026
Does Form 168 Replace Form 26AS?
Form 168 effectively represents the next stage in the evolution of annual tax reporting. Instead of being limited to tax deductions and collections, it combines a broader set of financial and tax-related information into one consolidated document.
As a result, taxpayers can access a more complete view of their tax records without relying solely on Form 26AS. The new format formalises the expanded Annual Information Statement (AIS) framework under the Income-tax Rules, 2026.
Who Needs To File Form 168?
Taxpayers are not required to file Form 168 themselves.
The document is automatically generated and made available through the taxpayer’s registered e-filing account by:
Principal Director General of Income-tax (Systems)
Director General of Income-tax (Systems)
Any authorised officer designated by them
Since the statement is generated by the department, taxpayers only need to review the information and ensure its accuracy.
Key Components Of Form 168
Form 168 is divided into two major sections.
Part A – Particulars of the Taxpayer
This section contains personal and identification details such as:
Full name
Date of birth or incorporation
Residential or registered address
PAN
Email address
Contact numbers
Part B – Nature of Information
This section captures various tax and financial records, including:
TDS and TCS details
Specified Financial Transactions
Tax payments
Refund and demand information
Pending proceedings
Completed proceedings
Other information covered under Rule 245
How Frequently Is Form 168 Updated?
Unlike tax returns, Form 168 does not have a filing schedule because taxpayers do not submit it.
The statement is updated throughout the year as new information is received and processed by the department. Updates depend on the timely filing of TDS and TCS returns, SFT reports and other statutory disclosures by reporting entities.
The data reflected in Form 168 is compiled from several sources, including:
TDS and TCS returns submitted by deductors and collectors.
Tax payment records generated through challans and online payment systems.
Specified Financial Transaction reports filed by banks, mutual funds, registrars and other institutions.
Refund and demand information maintained through the CPC-ITR system.
Details related to assessments and proceedings from assessment units and faceless assessment centres.
