26AS helps in checking Income tax deducted and tax deposited against your pan

Form 26AS is statement of Income tax deducted by your employers, Banks , other financial institutions. Form 26AS also shows details of Advance tax and Self Assessment Tax paid against by you against your PAN. This form can be viewed online by entering your PAN No.

Form 26AS is a  consolidated tax statement and contain details of tax deposited or credited in following heads:

1 Part A: Tax Deducted at Source (TDS) : Displays details of tax which has been deducted at source (TDS) by each person (deductor) who made a specified kind of payment to you. Details of the deductor (name & TAN) along with details of tax deducted like section under which deduction was made (e.g. section 192 for salary), date on which payment was effected, amount paid/credited, tax deducted from payments and deposited in the bank are included in this part.

2 Part B: Tax Collected at source (TCS) : This is amount of tax that seller of specified goods  have deducted tax while selling goods to you. Details similar to those displayed in Part A in respect of the seller and the tax collected will also be available.

3. Part B Other Payment: Details of income tax directly paid by you (like advance tax, self assessment tax) and details of the challan through which you have deposited this tax in the bank.

4. Details of Refund : It reflects the refund credited in your bank account, also shows for which assessment year this tax is refunded.

5 Annual Information Report (AIR): Contain details of high value transaction done by individual as reported in Annual Information Report

Also Visit How to verify PAN

Benefit and purpose of form 26AS

With the help of form 26AS, every Tax payer can keep track record of :

  • Actual tax deposited by his employer / Banks/ Financial Instituions and whether the same has actually been deposited with the Income tax Authority.
  • Check whether self assessment tax and advance tax you have deposited is correctly reflected against your PAN.
  • Refund issued for any Assessment Year.

Note: You should always view form 26AS before filing your Income tax Return. This will help you reconcile whether the TDS as shown in your form 16 or form 16A is tallying with form 26AS.

What to do in case of Variation in tax amount as shown in Form 26 AS and form 16?

Contact your employer: In case, the tax amount does not tally between your form 26 AS and form 16 / Form 16A, then you need to to contact your employer/or bank / or contractor who has deducted and deposited tax.

Revised TDS Return: Please wait till your employer files revised TDS return and is correctly reflected in your form 26AS. Otherwise, there may be demand from income tax department for shortfall on tax deposited.

Possible reason for mismatch in form 26 AS and form 16/ form 16A?

Mismatch between your form 16 / form 16 A and form 26AS could be due to following reason:

  • PAN no is not updated in his record
  • Your employer / Bank by mistake has deposited tax in wrong PAN number.
  • He has not filed his quaterly TDS return.

How to view Form 26AS Online ?

There are three ways that you can view your form 26AS.

Option 1: Income Tax Website

Option 2: Online Bank Account

Option 3: TIN Website

Option A: Download form 26AS from Income Tax Website follow simple steps:

  1. Go to this website : https://incometaxindiaefiling.gov.in/portal/index.do
  2. Register your PAN Card and password (search for REGISTER)
  3. Once you are registered , go to Login page (Search for LOGIN)
  4. Go to “My Account” section (at the top) and sub section - “View Tax Credit Statement (Form 26AS)”
  5. Choose assessment year , date of birth and click SUBMIT
  6. It will ask you for confirmation to redirect to NSDL website to view your form 26AS
  7. Click on the bottom button which says “View Form 26AS“
  8. You can now see your Form 26AS
Form 26AS

Form 26AS


Option 2: Online Bank Account 

All banks offer facility to view your Income Tax credit statement form 26AS. Just login in your bank account using your user id and password and there is link to “view your form 26AS”. Just click on it and you can view your form 26AS.

Option 3: TIN Website

 Through registration with NSDL

 

 

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