Form 26AS

About:

Form 26AS includes information regarding tax deducted at Source(TDS) on income by deductors, details of tax collected at source(TCS) by collectors, Advance tax paid by the assessee, Self-assessment tax payments, Regular assessment tax deposited by the assessee (PAN holders), Details of the refund received by the assessee during the financial year, Details of the High-value Transactions in respect of shares, mutual fund, etc.

Parts of Form 26AS?

Part A: Details of Tax Deducted at Source(TDS)

  1. Details of Tax Deducted at Source(TDS) for Form 15G/Form 15H
  2. Details of Tax Deducted at Source(TDS) on sale of Immovable Property u/s194(IA).

Part A of Form 26AS contains details of Tax Deducted at Source(TDS) deducted on salary, interest income, pension income, and prize winnings, etc. Tax Deduction and Collection Account Number (TAN) of the deductor and the amount of Tax Deducted at Source(TDS) deducted and deposited are also mentioned. This information is provided on a quarterly basis.  

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

Details of income where no Tax Deducted at Source(TDS) has been deducted is given since the taxpayer submitted Form 15G or Form 15H. Assessee can verify the status of TDS deduction if an assessee has submitted Form 15G or Form 15H. If the assessee has not submitted Form 15G or Form 15H, this section will display ‘No transactions present’. 

Details of Tax Deducted at Source(TDS) on sale of Immovable Property under Section 194(IA)

This is applicable if the assessee has sold the property during the year and Tax Deducted at Source(TDS) was deducted from the receipts. 

Part B: Details of Tax Collected at Source(TCS)

It contains the details of the tax collected at source (TCS) by the seller of goods.  

Part C: Details of Tax Paid other than TDS or TCS

If an assessee has deposited any tax by himself, that information will appear here. It contains the details of advance tax paid and self-assessment tax, also the details of the challan through which the tax was deposited.

Part D: Details of Paid Refund

Information regarding refund, if any, will be present in this section. Assessment year(AY) to which the refund is due, along with the mode of payment, the amount paid and interest paid, and also the date of payment is mentioned.  

Part E: Details of AIR Transaction

Banks and other financial institutions shall report high-value transactions to the Income-tax department. Property purchases, high-value corporate bonds are reported here.  

Part F: Details of Tax Deducted on sale of immovable property u/s194IA

If an assessee has bought a property, he has to deduct Tax Deducted at Source(TDS) before making payment to the seller. This section has details of TDS deducted & deposited by the assessee.  

Part G: Tax Deducted at Source(TDS) Defaults

Defaults related to the processing are mentioned here. They do not include demands raised by assessing officers.  

How to view Form 26AS?

An assessee can view Form 26AS on the TRACES portal and download it. Income tax Form 26AS is linked with the assesseePermanent Account Number(PAN), an assessee can view Form 26AS from FY 2008-09 onwards through net banking of your bank account. The facility is available to a Permanent Account Number(PAN) holder having a net banking account with any bank. This facility is available for free. 

How to Download Form 26AS?

Form 26AS can be downloaded on the TRACES website Or Net Banking Facility of a bank.

Step 1

Go to the income tax e-filing website and log in using the income tax department login ID & password. In the case of new users, you’ll need to Register first.  

Step 2

Enter Permanent Account Number(PAN), password And enter the captcha code in DD/MM/YYYY format. Now click on log in.

Step 3

After login to the portal, go to ‘My Account’. Click on  ‘View Form 26AS’ in the drop-down

Step 4

Click on ‘Confirm’ to redirect to the TRACES website.

Step 5

Select the box on the screen and click on ‘Proceed’ on the TRACES (TDS-CPC) website.

Step 6

Click on the link at the bottom of the page ‘Click View Tax Credit (Form 26AS) to view Form 26AS’.

Step 7

Select the Assessment Year(AY) and the format to see the Form 26AS. To see Form 26AS online, select the format as HTML and to download the Form 26AS select as a PDF. Enter the ‘Verification Code’ and click on ‘View/Download’.

Step 8 

To open the document you have to enter a password. Form 26AS password is your DOB in DD/MM/YYYY format.

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