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

Paying taxes is important, but calculating and filing them can seem tricky. To simplify the process, the Income Tax Department of India provides many helpful online tools for you to use. From viewing your tax-related information to calculating how much tax is due, these options available on the official website of the Income Tax Department are very convenient. One such tool is the 26AS form of income tax.

Form 26AS is a crucial document for anyone dealing with income tax in India. Think of it as your comprehensive tax passbook detailing all the taxes you have paid or deducted on your behalf. Whether it is Tax Collected at Source (TCS), Tax Deducted at Source (TDS), or any other tax payments like advance tax or self-assessment tax, Form 26AS consolidates all this information in one place. Let us understand what is Form 26 AS and how to view Form 26AS.

What is Form 26AS in Income Tax, and Why is it Important?

Form 26AS is a consolidated credit statement that shows all the information regarding your taxes. From Tax Collected at Source (TCS), Regular Assessment Tax, and Tax Deducted at Source (TDS) to Assessment Tax and Advance Tax - there are several different income tax deductions charged on your income.

Form 26AS is used to double-check your tax credits and income calculations. It allows you to verify whether or not the tax deducted or collected by the deductor or collector was deposited on time. Aside from that, Form 26AS includes information from the Annual Information Return (AIR), which various companies file based on what a person has earned or spent, typically in high-value transactions.

How to View Form 26AS from Net Banking Facility?

To view Form 26AS using the net banking facility, follow these steps:

Step 1. Log in to Your Net Banking Account

• Open the official website of your bank.
• Enter your User ID and password to log in to your net banking account.

Step 2. Navigate to Tax Services

• Once logged in, look for a section related to tax services. This may vary depending on the bank, but common labels include “Tax Services,” “Tax Center,” or “Income Tax e-Filing.”

Step 3. Select the Option to View Form 26AS

• You should find an option to view or download Form 26AS within the tax services section.
• This is often labeled as “View Tax Credit Statement (Form 26AS)” or similar.

Step 4. Redirect to the TRACES Website

• Clicking the option to view Form 26AS will redirect you to the TRACES (TDS Reconciliation Analysis and Correction Enabling System) website.

Step 5. View/Download Form 26AS

• You may need to re-enter your PAN and other details on the TRACES website.
• After providing the required information, you can view your Form 26AS for the selected financial year.
• You can also download the form in PDF format.

How to Download Form 26AS from TRACES?

Form 26AS, also known as the Tax Credit Statement, is a crucial document that provides details of all the tax deducted at source (TDS) on your income. It helps you reconcile your TDS payments with your ITR filings. Here is a step-by-step guide to download Form 26AS from TRACES:

Step1: Visit the TRACES Website

Open your web browser and go to the official TRACES website: https://contents.tdscpc.gov.in

Step 2: Log in to Your Account

Click on the “Login” button in the top right corner. Enter your PAN or Aadhaar number and birth date, and click “Continue.”

Step 3: Access the ‘View Tax Credit (Form 26AS)’ Option

Once logged in, you’ll be redirected to the TRACES homepage. Select the “e-file” tab from the top menu bar. Under the “Income Tax Returns” section, choose “View Form 26AS”.

Step 4: Read and Accept the Disclaimer

A disclaimer will appear explaining the purpose and usage of Form 26AS. Click on “Confirm” to proceed.

Step 5: Select the Assessment Year and View Type

A new page will display. Choose the assessment year for which you want to download Form 26AS. Select the desired view type: HTML, Text, or PDF.

Step 6: Click on “View/Download”

Once you’ve selected the assessment year and view type, click the “View/Download” button.

Step 7: Download the Form 26AS

The Form 26AS will be displayed in the selected format. You can either view it online or download it to your computer.

Things to Verify in the TDS Certificate with Form 26AS

When comparing your TDS certificate with Form 26AS, ensure the following details match:

• PAN: Your PAN should be identical on both documents.
• Assessment year: The assessment year should be the same on both documents.
• Deductor’s details: The deductor’s name, address, and TAN (Tax Deduction Account Number) should match.
• TDS amount: The total TDS amount deducted by the source should be consistent on both documents.
• TDS challan details: The TDS challan details, including the challan number and date, should match.

You can contact the deductor or the Income Tax Department for clarification and rectification if there are discrepancies.

Key Takeaways

• Form 26AS is a consolidated credit statement that provides details of all tax deductions and credits.
• It is used to reconcile TDS payments with income tax returns and identify any discrepancies.
• Form 26AS is divided into parts, each containing specific information about TDS, TCS, tax payments, refunds, and high-value transactions.
• Taxpayers can download Form 26AS from the Income Tax Department’s e-filing website.

Conclusion

Form 26AS is an essential document for taxpayers as it consolidates all tax-related information, including TDS, TCS, and high-value transactions. It acts as a verification tool to ensure that the tax credits claimed in your income tax return match the details reported to the tax authorities. Regularly checking Form 26AS can help avoid discrepancies and ensure your tax filings are accurate and up-to-date. This proactive approach simplifies the tax filing process and ensures compliance with income tax regulations.

FAQs on How to View Form 26AS