Form 26AS is a consolidated tax statement which has all tax related information such as TDS, TCS Refund etc associated with a PAN.
It is also called annual statement. It shows how much of your tax is collected by government.
It is a consolidated statement from multiple sources like your salary/ pension/ interest income etc. This form contains the annual tax statement under section 203AA. This form is issued under rule 31AB.
In other words, you can say form 26AS is a tax credit statement with respect to a financial year which includes the following details:
a) Tax deducted at source (TDS)
b) Tax collected at source (TCS)
c) Advance tax/self- assessment tax/regular assessment tax, etc., deposited in the bank by the taxpayers (PAN holders)
d) Refund details, if issued by the Income Tax Department.
e) Details of AIR (Annual Information Report) Transactions.
f) TDS on sale of immovable Property (both for buyer & seller)
Various Ways to View & Download Form 26AS
- Income tax India e-filing website
- Net banking of Authorized Banks
- The TRACES website
#1 View or Download Form 26AS on Income Tax India e-filing website
To view your Form 26AS online, you have to visit https://incometaxindiaefiling.gov.in/
- Login to your account or register for free on the website (https://incometaxindiaefiling.gov.in/e-Filing/Registration/RegistrationControl.html ).
- After logging in, Click on My Account on the dashboard.
- Then from the drop down menu, click on View Form 26AS
- You have to enter Date of Birth, verification code and assessment year.
- The Form will be displayed and can be downloaded.
The following image represents the sample of Form 26AS.
#2 View or Download Form 26AS through Net Banking
The facility is available to a taxpayer having access to Internet banking with a bank which is authorized by Income tax department to show tax credit. You can view Tax credit statement (Form 26AS) only when your PAN is mapped with particular account. The facility is free at all.
List of banks registered with TRACES for providing view of Tax Credit Statement (Form 26AS)
- Allahabad Bank
- Andhra Bank
- Axis Bank Limited
- Bank of Baroda
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- Citibank India
- City Union Bank Limited
- Corporation Bank
- Dena Bank
- HDFC Bank Limited
- ICICI Bank Limited
- IDBI Bank Limited
- Indian Bank
- Indian Overseas Bank
- Karnataka Bank Limited
- Kotak Mahindra Bank Limited
- Oriental Bank of Commerce
- Punjab National Bank
- State Bank of Bikaner & Jaipur
- State Bank of Hyderabad
- State Bank of India
- State Bank of Mysore
- State Bank of Patiala
- State Bank of Travancore
- Syndicate Bank
- The Federal Bank Limited
- The Karur Vysya Bank Limited
- The Saraswat Co-operative Bank Limited
- UCO Bank
- Union Bank of India
- United Bank of India
- Vijaya Bank
- Jammu & Kashmir Bank Ltd
- Punjab And Sind Bank
#3 View or Download Form 26AS through TRACES website
- Login to https://incometaxindiaefiling.gov.in/ or if you do not have account, then register an account first.
Click on ‘View Form 26AS (Tax Credit) on the left side of the displayed screen.
About Form 26AS
- Form 26AS is generated annually, for a financial year.
- Form 26AS is generated whenever tax related transaction (TDS, advance tax paid) happens in relation to the taxpayer. It is the real time based document i.e. it is updated as the transactions are reported/ processed for the given FY.
- Only a registered PAN holder can view their Form 26AS on TRACES. Taxpayer can view Form 26AS in TRACES from AY 2009-10 onwards or from FY 2008-09 onwards.
- The address reflecting in Annual tax statement (Form 26AS) is picked up from Income tax department’s PAN database with the details of latest PAN issued to taxpayer.
- The password for opening Form 26AS will be your Date of Birth (in DDMMYYYY format)g. if your date of birth is 09-Oct-1982, your password will be 09101982.
Information Given in Form 26AS
- Details of tax deducted on your income by deductors
- Advance tax paid by the taxpayer
- Details of tax collected by collectors
- Regular assessment tax deposited by the taxpayers ( person who holds PAN)
- Self assessment tax payments
- Details of refund received by the taxpayer during the financial year
- Details of High value Transaction in respect of shares, mutual funds etc…
Architecture of Form 26AS
The Form 26AS (Annual tax statement) is divided into different parts as described below:
- Part A– Details of Tax deducted at source (amounts in INR)
This part will show the TDS deducted from salary/ pension income and TDS deducted on interest income deducted by banks. TDS deducted is shown in separate table for every source.
- Part A1– Details of Tax deducted at source for 15G/ 15H
This part will show transaction in those financial institutions such as banks where the individuals has submitted Form 15G/ 15H. TDS in these cases would be zero (because you have submitted 15G/ 15H). This section helps to keep a check on all interest gains which are not taxed.
- Part B– Details of Tax collected at source.
Tax Collected at Source (TCS) is collected by the seller from the buyer at the time of sale of specified category of goods such as Alcoholic liquor for human consumption. The TCS rate varies from one category of goods. The TCS is deposited with the govt.
- Part C– Details of Tax paid (other than TDS or TCS)
Self assessment tax or Advance tax paid by the taxpayer will be shown in this part of the Form. Whenever you deposit advance tax/ self assessment tax directly to bank, the bank will upload that information after three days of the clearing of the cheque.
- Part D– Details of refund received
If you have received ant tax refunds during the financial year that would be listed under this part.
- Part E– Details of AIR Transactions
If taxpayer makes some high value transactions such as investment in property and mutual funds, that will be automatically reported to the income tax department by banks and other respective authorities through Annual Information Return (AIR).
- Part F- Details of tax deducted on sale of immovable property (for buyer of the property)
- Part G- Comprehensive view of TDS defaults relating to all TAN’s associated with PAN
About the Author
Arpit Goyal is pursuing CA and B.com & also working as an article assistant in Gurgaon. He has an immense interest in Taxation. He loves to use technology to spread knowledge about taxation & accounts.