What is Form 26AS? How to View and Download Form 26AS Online?

What is Form 26AS?

Form 26AS is a consolidated annual statement maintained by the Income Tax Department. It contains the tax credit information of each Taxpayer against his PAN.

If you have paid any tax on your income or tax has been deducted from it, then the Income Tax Department has these details in their Form 26AS database.

For NRIs, if they earn any income in India, such as Interest on an NRO account or any salary income and TDS has been deducted from it, then to claim the tax credit and view Form 26AS, one has to register under the Income Tax Department and should have PAN.

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Information Available on Form 26AS

• Information about Tax Deducted at Source by deductors like employers/contractors; [TDS]
• Information about Tax Collected at Source by collectors; [TCS]
• Advance tax/self-assessment tax paid by the assessee;
• Details of tax refund (if any) made by the department during the last financial year and
• Specified Financial Transactions(SFT) details, mostly high-value transactions regarding shares, mutual funds, etc.
• Interest received from bank & others without deducting TDS in case of Form 15G/H.
• Tax deducted on selling immovable property
• Details of turnover as per GSTR 3b

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What are the New Form 26AS Additions?

• Foreign remittance information reported in Form 15CC
• Information from Annexure-II of the last quarter's Form 24Q related to TDS on salary
• Information from other taxpayers' ITRs.
• Interest on a refund of income tax.
• Information on Form 61/61A that could be used to populate the PAN.
• Depository/Registrar and Transfer Agent report off-market transactions.
• The Registrar and Transfer Agent report information on mutual fund dividends.
• The Registrar and Transfer Agent report mutual fund purchases (RTA) information.

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How to Use Form 26AS for Tax Planning and Compliance

• Regular Review: Check your Form 26AS regularly to ensure it aligns with your income sources and deductions.
• Resolve Discrepancies: If you find any mismatches, promptly contact the deductor or Income Tax Department for rectification. This helps prevent potential tax notices or penalties.
• Accurate Reporting: Accurately declare all income reflected in your Form 26AS while filing your income tax returns to claim correct tax credits and avoid additional tax liabilities.
• Reconcile Deductions: Verify that eligible deductions (e.g., donations, investments under Section 80C to 80U) are correctly reflected in your Form 26AS. If not, contact the relevant entities for updates.
• Track Refunds/Demands: Use your Form 26AS to monitor the status of tax refunds or demands, including assessment year, amount, and payment mode.

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Form 26AS Sample

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Structure and Parts of Form 26AS

Form 26AS is divided into seven parts, which are explained below

Part I: Details of Tax Deducted at Source

It provides you with the details of Tax Deducted at Source (TDS), Interest Income, Pension Income, etc. Also, it mentions the TAN of the deductor, an amount of TDS that has been deducted and deposited with the Government every quarter.

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

It has details about TDS for Form 15G/15H. In case, Form 15G/15H has not been submitted, this section will display “no transactions present”.

PART-III - Details of Transactions under Proviso to section 194B/First Proviso to sub-section (1) of section 194R/ Proviso to sub-section(1) of section 194S

Part IV: Details of Tax Deducted at Source on sale of immovable Property u/s 194IADetails of Tax Deducted at Source on Sale of Immovable Property u/s 194IA/ TDS on Rent of Property u/s 194IB / TDS on payment to resident contractors and professionals u/s 194M (For Seller/Landlord of Property/Payee of resident contractors and professionals) Seller of Virtual Digital Asset U/S194S.

It contains details for

• TDS on the sale of immovable property like land, u/s 194-IA
• TDS on payment to resident contractors and professionals u/s 194M (for a payee of resident contractors and professionals)
• TDS on rent of property u/s 194IB (for the landlord of property)

Part V - Details of Transactions under Proviso to sub-section

Part - VI: PART-VI-Details of Tax Collected at Source

Part VII: Details of Tax Collected at Source

It contains details on Tax Collected at Source (TCS) by a seller of goods.

Part VIII: Details of Tax Deducted at Source u/s 194IA/ 194IB /194M/194S (For Buyer/Tenant of Property /Person making payment to contractors or Professionals / Buyer of Virtual Digital Asset)

Part IX: Details of Transactions/Demand Payments under Proviso to sub-section (1) of section 194S as per Form 26QE (For Buyer of Virtual Digital Asset)

Part X: TDS/TCS Defaults* (Processing of Statements

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How Can I View and Download Form 26AS?

Before filing your income tax return it is advisable always to view 26 AS to check the amount of tax deposited in your account with the income tax department.
Form 26AS can be viewed and downloaded in three ways:-

1). By login into your income tax filing account on the Income Tax department's e-filing website https://www.incometax.gov.in/iec/foportal/

2). Through your net banking account if your PAN is linked to your bank account.

3) View tax credit from the traces site

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View Form 26AS by PAN

You can't directly view Form 26AS with your PAN number by just entering it on a website. However, you can access it through two main methods: either logging through the Income Tax Department e-filing portal or through the TRACES portal.

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How to Download Form 26AS from Income Tax Website?

You can download & view your income tax Form 26AS through the income tax website. Simply follow the steps given below. If you haven’t registered on the income tax website, visit our page & register yourself within minutes.

• Step 1:

  a) Go to the e-filing website “https://www.incometax.gov.in/iec/foportal/”

  b) On the top-right side, you will find the “Login option. Click on it.

  
• Step 2:

  a) Enter the required details like your PAN Number, Password,

  b) Click on Continue

  
• Step 3:

  a) Once you log in to your account. Take the cursor to the e-file tab.

  b) Click on “Income Tax Returns,” and you will get a drop-down list.

  c) From the menu, select “View Form 26AS

  d) Click on “Confirm.” This will take you to the Traces website.

  
  
• Step 4:

  Now you are at Traces' Website. Select the checkbox & click on the “Proceed” button.

  
• Step 5:

  Click on “View Tax Credit (Form 26AS)” to view your Form 26AS.

  
• Step 6:

  Select “Assessment Year” and “View As” from the drop-down list.

  If you want to see your 26AS Form online, you can view it by clicking on the “View/Download” button.

  If you want to download a PDF file, click “View/ Download” and then “Export as PDF”.

  
• Step 7:

  Your Form 26AS is successfully generated, and you can check 26AS by opening your PDF file without password protection. And you can verify tax details that you paid or on your behalf.

How to View 26AS Form Using Internet Banking Facility

Form 26AS can also be viewed by using the Internet banking facility. This facility can be availed only if you have an account in a bank approved by the Income Tax Department. We have provided a list below of approved banks for your convenience.

• Allahabad Bank Internet Banking
• ICICI Bank 26AS
• State Bank of Travancore Net Banking
• IDBI Bank Ltd Net Banking
• Axis Bank Net Banking
• Indian Bank Net Banking
• The Federal Bank Net Banking
• Bank of Baroda Net Banking
• Bank of India Net Banking
• Karnataka Bank Limited Net Banking
• The Saraswat Co-operative Bank
• Bank of Maharashtra Online Banking
• Kotak Mahindra Bank Limited Net Banking
• UCO Bank Online Banking
• Oriental Bank Net Banking
• Union Bank Net Banking
• CitiBank India Netbanking
• State Bank of India Net Banking
• City Union Bank Net Banking
• Corporation Bank Net Banking
• State Bank Of India Net Banking
• State Bank of Mysore Net Banking
• HDFC Bank Net Banking
• State Bank of Patiala

Step 1: Visit http://contents.tdscpc.gov.in/en/netbanking.html
Or log in to your bank's Internet banking website using your Internet banking login credentials.

Step 2: Click on the option "Tax Credit Statement" or “TRACES (26AS) Services” to view your Form 26AS.

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How to View & Download Form 26AS from TRACES Online?

Given below are the steps that you need to follow to view and download Form 26AS from the TRACES online website -

• Step 1: Visit the e-filing website.
• Step 2: Enter your user ID, which can be either your PAN or Aadhaar number. If the user ID is invalid, an error message will be displayed. Proceed with valid user ID details.
• Step 3: Enter the password and continue.
• Step 4: After logging in, you'll see the dashboard. Navigate to 'e-file,' then click on 'Income Tax Returns,' and select 'View Form 26AS' from the drop-down menu.
• Step 5: Click 'Confirm' to accept the disclaimer and proceed to the TRACES website. Rest assured, this redirection is necessary and safe as it's a government website.
• Step 6: On the TRACES (TDS-CPC) website, select the box on the screen and click 'Proceed.'
• Step 7: At the bottom of the page, click on the link labeled 'View Tax Credit (Form 26AS)' to access your Form 26AS.
• Step 8: Choose the Assessment Year and the format in which you wish to view Form 26AS. If you prefer to view it online, leave the format as HTML. Alternatively, you can opt to download it as a PDF. Once you've made your selection, enter the verification code and click 'View/Download.'
• Step 9: Once downloaded, you can view Form 26AS by opening the file.

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Importance & Benefits of Form 26AS

Form 26AS is an essential document for taxpayers in India. It is a consolidated statement that provides a summary of all tax-related information available to the Income Tax Department. The form is important and offers several benefits to taxpayers. Here are some of them:

• Verification of Tax Deductions: Form 26AS helps taxpayers verify whether the tax deducted by their employers or other deductors has been correctly deposited with the tax authorities. It includes details of tax deducted at source (TDS) on salary, interest, rent, etc. This allows taxpayers to ensure that the tax deductions made by the deductors are in line with the actual payments made to them.
• Facilitates Income Tax Return (ITR) Filing: Form 26AS provides taxpayers with a consolidated view of their tax payments, including TDS, advance tax, self-assessment tax, etc. This information is crucial while filing income tax returns as it helps in accurately reporting the tax payments made during the financial year. Taxpayers can cross-verify the details in Form 26AS with their own records before filing their returns, minimizing the chances of errors or discrepancies.
• Avoidance of Double Taxation: In cases where individuals have income from multiple sources or have paid taxes in multiple jurisdictions, Form 26AS plays a vital role in avoiding double taxation. By providing a comprehensive view of the taxes paid, it helps taxpayers claim tax credits or exemptions for taxes already paid in another country or for income that is subject to double taxation avoidance agreements.
• Financial Record-Keeping: Form 26AS serves as an important financial record for taxpayers. It provides a consolidated statement of all tax-related transactions, including tax credits, refunds, and any outstanding demand. This makes it easier for taxpayers to maintain their financial records and track their tax liabilities and refunds over time.
• Resolving Tax Discrepancies: In case of any discrepancies or mismatches between the tax credits claimed by taxpayers and the tax deductions reported by deductors, Form 26AS acts as a reference document. Taxpayers can identify the discrepancies and take appropriate steps to rectify them by communicating with the deductors or contacting the tax authorities if required.
• Transparency and Compliance: Form 26AS promotes transparency in the tax system by providing taxpayers with a consolidated view of their tax-related information. It helps individuals stay updated on their tax obligations, encourages timely filing of tax returns, and promotes compliance with tax laws.

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Things to Verify in Your TDS Certificate with Form 26AS

Form 26AS must be verified with the details of the TDS certificate, i.e., Form 16 (for salaried individuals) and Form 16A (for non-salaried individuals), to ensure that the right TDS is deducted from the payee’s income and deposited with the income tax department.

Here’s an overview of what other things need to be verified in your TDS certificate and Form 26AS:-

1. Your Personal Information: The certificate should include your full name and Permanent Account Number (PAN). This ensures the deducted tax is correctly attributed to you.
2. Deductor's Details: The deductor's Tax Deduction and Collection Account Number (TAN) should be mentioned. This ties the certificate to the source of the deduction.
3. Payment Information: The certificate should clearly state the amount paid to you and the TDS amount that was deducted from it. This helps verify that the correct tax amount has been deducted and reported.
4. Financial and Assessment Years: The certificate should specify the financial year (April 1 to March 31) and the assessment year (the year immediately following the financial year) for which the tax is deducted. This helps in correlating the tax deduction with your tax filing.
5. Quarterly Details: If the TDS certificate is issued quarterly, it will indicate the specific quarter (Q1, Q2, Q3, or Q4) for which the tax has been deducted. This can assist in tracking the frequency and timing of payments and tax deductions.

When you receive a TDS certificate from your bank or another deductor, it’s essential to review it carefully to ensure that all the information is accurate and matches your records. In the case of any discrepancy between the TDS certificate and Form 26AS, inform your deductor and get it corrected immediately.

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Introduction of Annual Information Statement (AIS)

The tax department has introduced an Annual Information Statement (AIS) incorporating new details to enhance the information available for tax assessment and compliance purposes. The AIS now includes several additional components such as foreign remittances, off-market transactions, interest on income tax refunds, mutual fund purchases, dividend details, and the break-up details of salary and information from another person's income tax return (ITR).

Previously, the tax department would obtain these records from authorized entities. For example, authorized dealers such as banks submit Form 15CC for every payment made to non-residents. Transfer agents and depositories report off-market transactions, including gift transfers, legacy transfers, and transfers between two Demat accounts. Additionally, employers upload salary break-up details on the TRACES portal, which can be accessed through Form 16.

Furthermore, the tax department can gather information related to certain transactions from other taxpayers' ITR filings. For instance, property sellers report buyers' details in their ITR, allowing the tax department to cross-reference this information.

Including these new details in the AIS strengthens the tax department's ability to verify and validate taxpayers' income, deductions, and other financial transactions. By consolidating information from various sources, the AIS provides a comprehensive overview of an individual's financial activities, enabling the tax department to ensure greater tax compliance and assessment accuracy. You can read more about AIS here.

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TDS Certificate (Form 16/16A) vs. Form 26AS

TDS Certificates (Form 16/16A) and Form 26AS are both important documents for taxpayers in India that relate to tax deducted at source (TDS). However, they serve different purposes and contain different types of information.

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