Rule 245: Annual Information Statement in Form No. 168
Section 510 of the Income-tax Act, 2025 requires the prescribed income-tax authority to upload an annual information statement in the registered account of the assessee. Rule 245 names the Director General of Income-tax (Systems) or any person authorised by him, prescribes Form No. 168, lists the information it contains and sets a ninety-day upload period. It also lets the Board authorise uploading of information received from other sources.
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Rule 245 - Annual Information Statement
(1) The Director General of Income-tax (Systems) or any person authorised by him shall, under section 510, upload in the registered account of the assessee, an annual information system Form No. 168 containing the following information, which is in his possession within ninety days from the end of the month in which the information is received by him: (a) information relating to tax deducted or collected at source; (b) information relating to specified financial transaction; (c) information relating to payment of taxes; (d) information relating to demand and refund; (e) information relating to pending proceedings; (f) information relating to completed proceedings; and (g) any other information authorised under sub-rule (2).
(2) The Board may also authorise the Director General of Income-tax (Systems) or any person authorised by him to upload any information received from any officer, authority or body performing any function under any law in force or the information received under an agreement referred to in section 159 or the information received from any other person to the extent as it may deem fit in the interest of the revenue, in the annual information statement referred to in sub-rule (1).
Rule breakdown
What is uploaded and when: Rule 245(1)
The Director General of Income-tax (Systems) or any person authorised by him uploads Form No. 168 in the registered account of the assessee. It contains the information in his possession within ninety days from the end of the month in which he receives it.
The heads are: (a) tax deducted or collected at source; (b) specified financial transactions; (c) payment of taxes; (d) demand and refund; (e) pending proceedings; (f) completed proceedings; and (g) any other information authorised under sub-rule (2).
Other information: Rule 245(2)
The Board may authorise the upload of information received from any officer, authority or body performing any function under any law in force, information received under an agreement referred to in section 159, or information received from any other person, to the extent it deems fit in the interest of the revenue.
Section 159(1) allows the Central Government to enter into an agreement with the Government of any other country or any specified territory.
Registered account
Section 510(2) defines "registered account" as the electronic filing account registered by the assessee in the web portal designated by the prescribed income-tax authority or the person authorised by it.
Key takeaways
Form No. 168
The Annual Information Statement is uploaded in Form No. 168.
Ninety days
Information is uploaded within ninety days from the end of the month in which it is received.
Wide sources
The Board may authorise information from other authorities, from section 159 agreements and from other persons.
Practical checklist
- Review your Annual Information Statement before filing the return.
- Reconcile the TDS, TCS and specified financial transaction entries with your own records.
- Keep your registered account on the portal active.
Avoid
- Do not assume the statement is complete; information can be uploaded up to ninety days after the month it is received.
- Do not ignore entries you do not recognise; check them against your own records.
FAQs
Where can I see my Annual Information Statement?
In your registered account, that is, the electronic filing account you registered on the designated web portal (section 510(2)).
What information does Form No. 168 contain?
TDS and TCS, specified financial transactions, tax payments, demand and refund, pending and completed proceedings, and any other information authorised under Rule 245(2).
Why might a transaction appear late in the statement?
Rule 245(1) allows upload within ninety days from the end of the month in which the information is received.
Glossary
- Annual Information Statement
- The statement in Form No. 168 uploaded under section 510 and Rule 245.
- Registered account
- The electronic filing account registered by the assessee on the designated web portal (section 510(2)).