What is Form 26AS?
Form 26AS includes all the main points concerning the tax deducted at source, information regarding the tax collected by your collectors, the advance tax you’ve got paid, self-assessment tax payments, information regarding the refund you have received over the course of a fiscal year , regular assessment tax that you simply have deposited, and knowledge regarding high-value transactions to date as mutual funds, shares, etc. are concerned.
Learn more about excise duty, tax Return, tax Calculator
Form 26AS has 7 parts, viz. Part A, Part B, Part C, Part D, Part E, Part F, Part G and so on. Here are the different parts of Form 26AS:
- Part A: Information regarding TDS
Part A of your tax liability statement contains information regarding TDS on your salary, pension income, interest income, prize winnings, etc. It also contains the deductor’s tax write-off and Collection Account Number (TAN) also because the amount of TDS that was subtracted and deposited.
- Part A1: Information related to TDS for Form 15G/Form 15H
Part A1 of Form 26AS contains information regarding your income where TDS has not been subtracted once you have submitted Form 15G/Form 15H. The status of TDS deduction have already verified if you’ve got submitted the aforementioned form. ‘No transactions present’ are going to be displayed on this section just in case you’ve got not furnished Form 15G/Form 15H.
- Part B: Information regarding TCS
Part B of Form 26AS contains information concerning the tax collected at source by the vendor . Entries are going to be made partially B as long as you’re a seller who has collected tax at source.
- Part C: Information related to tax paid (apart from TDS and TCS)
In case you had made any tax deposits yourself, details regarding an equivalent will appear partially C of Form 26AS. Information regarding self-assessment tax and advance tax also will be present during this a part of Form 26AS. It will also include details regarding the challan wont to deposit tax.
- Part D: Information regarding paid refund
Part D of Form 26AS it contains details regarding refunds, if any. It will also contain information regarding the assessment year that’s pertinent to the refund, the mode of payment, the quantity also because the interest paid along side the date on which the payment was made.
Learn more about Income Tax Refund, Income Tax Refund Status
- Part E: Information regarding AIR Transaction
High-value purchase are expected to be reported by banks and financial as well as non-financial institutions to the tax authorities. Part E of Form 26AS it contains information regarding purchases of high-value mutual funds, purchase of high-value corporate bonds, property purchases, etc.
- Part F: Information related to tax deduced on the sale of immovable property
Part F of Form 26AS contains information regarding the TDS you’ve got deducted and deposited just in case you’ve got purchased a property.
- Part G: Information regarding TDS defaults
Part G of Form 26AS it contains information regarding the process of statements.
How to View Form 26AS
Form 26AS are often checked on the TRACES portal. It is linked with your PAN, and you can check Form 26AS from FY 2008-09 till the previous financial year, through your netbanking account. The banks that have registered with NSDL to enable users to look at Form 26AS include the following:
- Axis Bank
- Bank of India
- ICICI Bank
- Bank of Baroda
- Corporation Bank
- Bank of Maharashtra
- City Union Bank Limited
- Indian Overseas Bank
- Kotak Mahindra Bank
- IDBI Bank
- Indian Bank
- Oriental Bank of Commerce
- State Bank of Mysore
- Indian Bank
- State Bank of India
- State Bank of Patiala
- UCO Bank
- State Bank of Travancore
- Union Bank of India
- Saraswat Co-operative Bank
- Federal Bank
How to Download Form 26AS
You can visit the TRACES website to upload a Form 26AS. Alternatively, you’ll visit https://incometaxindiaefiling.gov.in, log in together with your user ID and password and download your tax liability system. You can also download Form 26AS using the netbanking facility of the banks mentioned above.
Here there are some step-by-step procedure to download Form 26AS using your tax department account:
- Go to https://incometaxindiaefiling.gov.in and key in your PAN number along side the password before entering the captcha code. Next, click on ‘Login’.
- You will be redirected to a brand new page where you’ll need to drag the cursor to ‘My Account’, and from the menu that appears, select ‘View Form 26AS’.
- Hit ‘Confirm’ on the screen and you’ll be taken to the TRACES website.
- Once you enter the TRACES website, check the small box that appears on your screen before clicking on ‘Proceed’.
- A link called ‘Click View tax liability (Form 26AS) to look at your Form 26AS’ will appear at rock bottom of the page, click thereon to proceed.
- You will be redirected to subsequent page where you’ll need to select the assessment year that you would like to look at your tax liability statement. You will even have to settle on the format during which you would like to look at the statement. ‘HTML’ are often selected if you would like to look at Form 26AS online, and therefore the form are often downloaded as a PDF. Once you create the aforementioned selections, key with the ‘Verification Code’ before clicking on ‘View/Download’.
- Your Form 26AS will be downloaded. To open it, you’ll need to enter a password which is essentially your date of birth within the DD/MM/YYYY format.