Form 26AS is an annual consolidated credit statement issued under Section 203AA of the Income-tax Act, 1961. It is an important document for verifying all taxes paid or deducted and collected by deductors and collectors. You can directly download 26as information into the Income tax returns while filing.
Form 26AS Contains details of
- Tax deducted on behalf of the taxpayer by deductors.
- Details of NO/Low tax deduction
- Tax deducted on sale of Immovable property (for seller of Property).
- Tax collected on behalf of the taxpayer by collectors.
- Advance tax/self assessment tax/regular assessment tax, etc. deposited by the taxpayers (PAN holders)
- Refund received by the taxpayer during the financial year.
- The high value transactions in respect of shares, mutual funds etc. (as reported by AIR filer).
- Tax deducted on sale of Immovable property (for buyer of property).
- Comprehensive view of TDS defaults relating to all TAN’s associated with a PAN
Note: Form 26AS can be viewed for assessment year 2009- 10 onwards. Form 26AS also shows current status of PAN (active/inactive/deleted).
How to view /Download your Form 26AS.
Tax Credit Statement (Form 26AS) can be viewed/accessed in three ways:
View Tax Credit from https://www.incometaxindia efiling.gov.in
Taxpayers who are registered at the above portal viz https://incometaxindiaefiling.gov.in can view 26AS by
Login using username and password.
In My Account; Click on ‘View Form 26AS (Tax Credit) and then filling in required details like assessment year, date of birth/incorporation and verification code, the same can be viewed.
The facility is available free of cost and registered user may use the link https://incometax indiaefiling.gov.in for this purpose.
View Form 26AS from bank site through net banking facility
The facility is available to PAN holder having net bank account with any of authorized banks .View of tax credit statements ( Form 26AS) is available only if the PAN is mapped to that particular account. The facility is available free of cost.
List of banks registered for providing view of Form 26AS.
- Allahabad Bank
- Axis Bank
- Bank of Baroda
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Citibank N.A.
- City Union Bank Ltd.
- Corporation Bank
- ICICI Bank Ltd.
- IDBI Bank Ltd.
- Indian Overseas Bank
- Indian Bank
- Jammu & Kashmir Bank Ltd.
- Karnataka Bank Ltd
- Kotak Mahindra Bank Ltd.
- Punjab and Sind Bank
- Oriental Bank of Commerce
- State Bank of India
- Syndicate Bank
- The Federal Bank Ltd.
- The Karur Vysya Bank Ltd.
- The Saraswat Co-operative Bank Ltd.
- UCO Bank
- Union Bank of India
- Vijaya Bank
- HDFC Bank Limited
- Central Bank of India
- Andhra Bank
- United Bank of India
- Dena Bank
- Punjab National Bank
- IndusInd Bank
Note: This option does not require any separate registration as the KYC of the tax payer has already been done by the concerned bank.
View Form 26AS from https://www.tdscpc.gov.in
For resident Tax payers
A resident taxpayer first need to register on TRACES (https://tdscpc.gov.in). After registering, Form 26AS, can be viewed by clicking on ‘View Tax Credit Statement (Form 26AS) after login as “Taxpayer” and filing in required details like password and relevant assessment year.
For Non-Resident Taxpayers
An NRI taxpayer can view tax credit from https://www.nri services.tdscpc.gov.in. NRI taxpayers first need to register at TRACES Portal. A request can be raised to view/download Form 26AS by clicking on ‘View Tax Credit Statement (Form 26AS(‘ after login as “Taxpayer” and filing in required details like password and relevant assessment year. Form 26AS statement can be downloaded either as PDF/text/excel file could be viewed as HTML.
All these three links can also be accessed on national website of Income Tax Department (www.incometax.india.gov.in). There is an option to view the tax credit wherein the user is taken to e-filing website, internet banking or TRACES website based on the choice of the taxpayers to As his tax credit.
Note:- For records greater than 1,000 a download request for Form 26AS as text file needs to be submitted at TRACES by its registered users.
For any clarification regarding Form 26AS, contact authorities as mentioned below:
|Part of Form 26AS||Contact in case of any clarification|
|C||Assessing Officer /Bank|
|D||Assessing Officer /ITR-CPC|
|E||Concerned AIR Filer|
|F||NSDL/Concerned Bank Branch|
|G||Respective TAN Holder|
Usefulness of tax credit statement (Form 26AS)
- 26AS enables view of all financial transaction involving TDS/TCS during the relevant Financail Year at one place.
- Give details of NO/Low deductions claimed by the taxpayer.
- Helps in claim of other taxes paid by the taxpayer and computation of income at the time of Filing of return of income.
- Helps in Seamless processing of Income Tax Return and Speedy issue of refunds.
- Verification of Refunds encashed during the financial year.
- Verification of CIN in non-TDS payments.
- Help taxpayer to view the tax demand created by the Income Tax Department for his necessary follow up.
- Facility to download the TDS certificate (Form 16A) after entering the unique seven character TDS certificate number.
- Status of PAN.
- Comprehensive view of TDS defaults relating to all the TANS associated with a PAN.
- Helps . compliance of Section 40(a)(ia) of Income Tax Act and preparation of Audit Reports in Form 3CD.
Missing credits in 26AS
There might be situations where tax deducted or collected missing in the Form 26 AS.
The possible reasons for no credit being displayed in your Form 26AS can be
- Deductor/collector has not filed his TDS/TCS statement.
- You have not provided PAN to the deductor/ collector.
- You have provided incorrect PAN to the deductor/ collector.
- The deductor/collector has made an error in quoting your PAN in the TDS/TCS return;
- The deductor/collector has not quoted your PAN;
To rectify these errors you may request the deductor/Bank
- To file a TDS/TCS statement if it has not been filed;
- To rectify the PAN using a PAN correction statement in the TDS/TCS statement that has been already uploaded if it has made an error in the PAN quoted;
- To furnish a correction statement if the deductor had filed a TDS/TCS statement and had inadvertently missed providing your details or you had not given your PAN to him before he filed the TDS/TCS return;
Things to be careful While using ITNS 280 Tax payment challan
- Head of payment, i.e. corporation Tax/Income-tax (other than companies).
- Amount and mode of payment of tax.
- Type of payment (i.e. Advance tax/ Self assessment tax / Tax on regular assessment / tax on Dividend / tax on distributed Income to Unit holders/Surtax).
- Assessment year.
- PAN (Permanent Account Number) allotted by the Income Tax Department.
- For proof of payment from your bank please insist that,
- The filled-up taxpayer’s counter foil must be stamped and returned to you by the bank.
- The bank’s stamp contains Challan identification Number (CIN) [BSR(Banker’s Serial Number) code, Date of Deposit, Challan Serial Number].
- In case of e-payment a computer generated copy will be issued.
- The NSDL Website [http://www.tin-nsdl.com] provides online services called Challan Status Enquiry. You can also check your tax credit by viewing your form 26AS from your e-filing account at www.incometaxindiaefiling.gov.in
- Form 26AS will also disclose the credit of TDS/TCS in your account.
- You are therefore responsible for ensuring that tax credits available in your tax credit statement and TDS/TCS certificates received by you and that full particulars of income and tax department in the form of return of Income which is to be filled before the due date in this regard.
- Taxpayer can use “View TDS/TCS credit” facility using the link https://www.tdscpc.gov.in/app/tapn/tdstcscredit.xhtml to know whether the deductor/collector has filed quarterly TDS/TCS statement provided the PAN and the count on records present.
- Taxpayer can also raise a grievance at “Taxpayer Grievance Module” on TRACES.