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What is Form 26AS?

Form 26AS is an official form that contains details of the tax deducted by the deductor. It also contains details of tax, which is deducted at source and details of advance tax. All this, along with refunds and high-value transactions is deducted on behalf of the taxpayer.

Or, in other words, From 26 AS is an annual consolidated tax statement which contains details of your taxes that have been paid by or on your behalf, by the deductor (could be your employer, bank etc.) to the Government treasury.

Understanding Form 26AS

From 26AS is also known as the annual consolidated statement, which contains all tax related information of the taxpayer. One can access form 26AS from the income tax website by using their PAN (Permanent Account Number). Form 26AS contains the following details:

  • Details of Annual Information Report transactions

  • Details of tax collected by the tax collectors on behalf of the taxpayer

  • Tax deducted by the deductor on behalf of the taxpayer

  • Advance tax, self-assessment tax, and regular assessment tax deposited by PAN holders/taxpayers.

  • Details of tax deducted on your income by deductors

  • Details of refund received by you during the financial year

  • Details of the High-value Transactions in respect of shares, mutual fund etc.

Structure of Form 26AS

Form 26AS consists of the following parts:

  • Part A: Details of Tax Deducted at Source

  • Part A1: Details of Tax Deducted at Source for Form 15G/Form 15H

  • Part A2: Details of Tax Deducted at Source on sale of Immovable Property u/s194(IA) (For seller of Property)

  • Part B: Details of Tax Collected at Source

  • Part C: Details of Tax Paid (Other than TDS or TCS)

  • Part D: Details of Paid Refund

  • Part E: Details of AIR Transaction

  • Part F: Details of Tax Deducted on sale of immovable property u/s194IA (For Buyer of property)

  • Part G: TDS Defaults* (processing of defaults)

Part A: Details of Tax Deducted at Source

The part A of form 26AS consists details of TDS deducted from your salary, interest earned, pension income and prize winnings etc. Tax Deduction and Collection Account Number (TAN) of the deductor and the amount of TDS deducted and deposited are also mentioned. However, this information is provided on a quarterly basis.

Part A1: Details of Tax Deducted at Source for Form 15G/ Form 15H

Part A1 consists of income details where no TDS has been deducted is given, since the taxpayer submitted Form 15G or Form 15H. One can verify the status of TDS deduction if you have submitted Form 15G or Form 15H. However, if have not submitted Form 15G or Form 15H, this section will display ‘No transactions present’.

Details of Tax Deducted at Source on sale a of Immovable Property u/s 194(IA) (For the seller of Property)

This is applicable in case you have sold the property during the year where TDS was deducted from your receipt. One can find all the suitable entries on Details of Tax Deducted at Source on sale a of Immovable Property u/s 194(IA) (For the seller of Property).

Part B: Details of Tax Collected at Source

This part contains details of the (TCS) tax collected at source by the goods seller. You will find the entries present here in case you are a seller and tax is collected by you.

Part C: Details of Tax Paid (Other than TDS or TCS)

Part C consists of any tax deposited by you. Here, the details of advance tax as well as self- assessment tax are also present. Additionally, it also contains details of the challan through which the tax was deposited.

Part D: Details of Paid Refund

Part D consists of the information regarding your refund. It provides information of an assessment year to which the refund pertains, along with the mode of payment, the amount paid, interest paid and the date of payment.

Part E: Details of AIR Transaction

The Annual Information Return (AIR) are high value transactions. Therefore bank and financial institutions must report such high-value transactions to the tax authorities. Also, mutual fund purchases of high value, property purchases, and high-value corporate bonds are all reported here.

Part F: Details of Tax Deducted on Sale of Immovable Property u/s 194IA (For Buyer of Property)

In case you have bought a property, it is vital that you deduct TDS before making payment to the seller. And Part F section of Form 26AS contains details of TDS deducted & deposited by you.

Part G: TDS Defaults*(Processing of Defaults)

In case there are any defaults related to the processing of statements, they are mentioned here. They do not include demands raised by assessing officer.

How to View Form 26AS?

Form 26AS can be viewed in two ways. Both methods use the online facility to display Form 26 AS for the customer. Following are the ways in which one can view their Form 26 AS online.

  • TRACES portal : You can download form AS26 from TRACES. Below is the step-by-step guide on how to download form 26AS.

1) Visit page www.incometaxindiaefiling.gov.in of Income Tax and locate the form 26AS which is available on the website.

2) Using PAN, you can login into the account. In case you don’t have an account, you will have to register first.

3) The password for opening Form 26AS is your Date of Birth (in DDMMYYYY format)

4) Post which, you can view Form 26AS from FY 2008-09 onwards.

  • Through NET Banking facility : This facility is available to a PAN card holder having a net banking account with any authorized bank.

Please note: You can view Form 26AS only if your PAN number is linked to that particular account.

Below is the list of banks registered with NDSL for providing a view of Tax Credit Statement (Form 26AS)

  • Axis Bank Limited

  • Bank of India

  • Bank of Maharashtra

  • Bank of Baroda

  • Citibank N.A.

  • Corporation Bank

  • City Union Bank Limited

  • ICICI Bank Limited

  • IDBI Bank Limited

  • Indian Overseas Bank

  • Indian Bank

  • Kotak Mahindra Bank Limited

  • Karnataka Bank

  • Oriental Bank of Commerce

  • State Bank of India

  • State Bank of Mysore

  • State Bank of Travancore

  • State Bank of Patiala

  • The Federal Bank Limited

  • The Saraswat Co-operative Bank Limited

  • UCO Bank

  • Union Bank of India

How to view the Form 26AS without registering

In case you are browsing from 26AS from an authenticated source, then you can access the same on the TRACES website. However, registering is not required unless you wish.

Takeaways:

  • The Form 26AS can be downloaded from TRACES website.

  • Form 26AS is linked to the Permanent Account Number

  • You can view your Form 26AS on and from Financial Year 2008-2009

  • Form 26AS is very essential as it is the passbook in relation to the income tax credit and debit.

How to download Form 26AS?

You can download Form 26AS by simply following the steps mentioned below:

  • Step 1: Log on to incometaxindiaefiling.gov.in and Login using your income tax department login & password. In case you don’t have an account, you first need to register yourself.

  • Step 2:

    • Enter your PAN number, password and date of birth or date of incorporation in DD/MM/YYYY format. Enter the captcha code. Now click on LOGIN.

    • Enter PAN e filing website.

  • Step 3:

  • The web screen will appear, where you need to click on ‘My Account’. Click on ‘View Form 26AS’ in the available drop down.

  • View Form 26AS.

  • Step 4:

    • Click on ‘Confirm’ and you will be redirected to the TRACES website. (Fret not, this is a necessary step and is completely safe since it is a government website).

    • TRACES Website will open.

  • Step 5: a. You are now on the TRACES (TDS-CPC) website. Select the box on the screen and click on ‘Proceed’.

    • TRACES TDS-CPC Website will appear.
  • Step 6:

    • Click on the link– ‘Click View Tax Credit (Form 26AS) to view your Form 26AS’.- which is at the bottom of the page.

    • View Tax Credit Traces.

  • Step 7:

    • Choose the Assessment Year and the format in which you want to see the Form 26-AS. If you want to see it online, leave the format as HTML. You can also download the same as a PDF. After you have made your choice, enter the ‘Verification Code’ and click on ‘View/Download’.

    • TRACES Verification code will be generated.

  • Step 8: To open the document you have to enter a password. Form 26AS password is your DOB in DDMMYYY format. Your Income Tax Form 26AS will open.

Therefore, it is important to keep a track on Form 26AS so as to be on the right side of the law.

FAQs

What is the period for which Form 26AS is generated?

The period for form 26AS is for a financial year.

What is the benefit of having Form 26AS to the taxpayers?

Form 26AS is considered to be very helpful as it confirms the following to the taxpayers:

  • The tax deducted by the deductor has been deposited to the account of government.

  • The bank has furnished the details of tax deposited by you.

From which Assessment Year (AY) can I view my Form 26AS on TRACES?

You can view your Form 26AS in traces from assessment year 2009-10 onwards.

What should I do in case there are entries in my Form 26AS that do not pertain to me?

If you come across a scenario where some entries do not pertain to your Form 26AS, you can intimate the deductor/collector or your assessing officer.

Can I make changes to the name and address of the PAN holder displayed in Form 26AS?

Yes, changes can be made by making an application using the ‘Request for new PAN card or/and changes or correction in PAN data’. You can make this request either online or through the existing network of TIN-FCs. Details are available at the TIN website.

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