Income Tax Form 26 AS
Form 26AS is a tax credit statement for tax filing. It is a consolidated statement issued by the income tax department. The statement is issued to individual PAN holders and available at TIN – Tax Information Network.
The form is issued to the taxpayer with respect the tax amounts deposited by him. It is an important document to refer before filing IT returns. The statement can be imported from the official portal of income tax. It contains details of the tax deducted under TDS. It also contains tax collected at source, details of advance tax and refunds. It is an annual statement of a taxpayer with all tax related information. By viewing the form 26AS, the taxpayer gets a clear idea of his tax credits and tax commitments.
We have provided here all information related to your form 26as. It is issued against the PAN number. The structure and the online procedure to view it are shared here in details. Whatever taxes you pay and returns you file, get updated in this statement. The registered users can login and view the form online at any time. This statement contains three parts A, B and C. To download the form, use the link shared further. It will show the statement for a particular financial year selected by you.
Download Form26AS from TDS TRACES
Here is the procedure to get Form 26 AS through the TDS traces website. The TDS TRACES stands for TDS Reconciliation Analysis and Correction Enabling System. It is a portal dedicated to the correction of already filed TDS returns. Among the several facilities available at this portal, viewing form 26A S is an important one.
- Visit the official site of the income tax e-filing: https://incometaxindiaefiling.gov.in/
- At left-hand side, you will find an option for View form 26as.
- Give a click on it and login using your user id and password.
- You will be directed to the TDS traces website.
- Or directly use the traces website: https://www.tdscpc.gov.in/
- You can also login using your netbanking facility.
- After login, you will be able to view the detailed form 26 A S using a password.
- The password to open your form is your date of birth in DDMMYY format.
Compare the details of transactions shown in it with your records. In the case of any discrepancy in the statement, you may contact the authorities.
Form 26AS: Structure and Details
The statement of transactions in this document contain following details. This statement is issued against the particular PAN number.
- TDS – Transaction details of tax deducted on your income by the tax deductors.
- TCS – Details of transactions where the tax is collected by the tax collectors.
- Other tax payment details including advance tax payment, self-assessment, and regular self-assessment tax. It will be as per the challan deposited in the bank.
Form 26AS also contain following additional information:
- Details of the income tax refunds received by you during a particular financial year.
- High-value transaction details in terms of mutual funds, shares etc.
You can view the form using your netbanking login only if your PAN is associated with your bank account.
Why Form 26AS is Important
The online facility of viewing form 26as helps you keeping track of your taxes and IT returns. The details can be tracked by any taxpayer without any paperwork and manual visits to offices. The details uploaded in this statement help you monitor and review your tax liabilities. It also keeps you relaxed about the proper accounting of your tax with the authorities. In the case of any discrepancy and error, you can report it immediately. This will save you from the last minute hassles. You can track any error in the amount of tax and approach the bank. You can save yourself from paying penalties by tracking details of the form 26 AS. The statement is also useful if you are planning to file for income tax returns. Check the outstanding taxes and make sure your tax liabilities are zero.
We all track our bank accounts to view the money debited and credited into it. Once we see the amounts of deposits and debits are as per our record, we feel at peace. Viewing form 26 as is gives the same amount of peace in terms of income tax payments, TDS and returns. Any outstanding tax liability in the form will help you remain on good terms with the tax authorities. The Form 26AS is also known as tax credit statement. Find more information on income tax refund on our TAWP blog. You might be interested in checking details on ITR