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This paper analyzes the performance of multiple- input multiple-output (MIMO) systems with transmit and receive antenna selection (T-RAS). The average bit error rate (BER), average symbol error rata (SER), outage probability and ergodic capacity are derived by utilizing the characteristic function (CF) of the joint output signal-to-noise ratios (SNR). Our approach can be used over not only independent but also arbitrary correlated Rayleigh,Nakagami-m and Rician fading channels. Simulation results are provided to validate our numerical calculations. We also illustrate the effect of antenna array configuration and the operating environment (fading, angular spread, mean angle-of- arrival(AOA), mean angle-of-departure (AOD)) on the average BER performance.