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

E-filing website of the Income Tax Department, TRACES, allows you to file Form 26AS online. It helps you fill and download the form, track your tax receipt, and access various other tax-related services.

  • 23,527 Views | Updated on: Mar 12, 2024

The introduction of Form 26AS by the Income-tax department is a positive move that eliminates the requirement to produce several TDS certifications (Form 16 or 16A) when filing your tax return.

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 different parts, each containing specific information about TDS, TCS, tax payments, refunds, and high-value transactions.
  • Taxpayers can view and download Form 26AS from the Income Tax Department’s e-filing website.
  • Form 26AS is an essential tool for tax planning, ensuring compliance, and avoiding potential penalties.

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.

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.

Information from Form 26AS that can be Interpreted

The amount of tax withheld from your income:

  • Information about the tax revenue
  • Information about any prepaid taxes
  • Tax payment through self-assessment
  • Periodic evaluation of the deposited tax
  • Specifics regarding stocks, mutual funds, high-value transactions, etc.
  • Tax deduction on the sale of real estate
  • Information about annual revenue
  • Details about the income tax refund received

How to View Form 26AS Online?

If you are wondering how to view Form 26AS online, you will be happy to know that the process is rather simple. The form is available on the official website of the Income Tax Department of India. If you want to find out how to view Form 26A, you must register on the official website of the Income Tax Department. After registering on the website, you can view the form. You can also log in by using your net banking account.

Below are the banks that are registered with NSDL (National Securities Depository Limited) to view Form 26AS online:

  1. Kotak Mahindra Bank Limited
  2. Axis Bank Limited
  3. Bank of India
  4. Bank of Maharashtra
  5. Bank of Baroda
  6. Citibank N.A. Corporation Bank
  7. City Union Bank Limited
  8. ICICI Bank Limited
  9. IDBI Bank Limited
  10. Indian Overseas Bank
  11. Indian Bank
  12. Karnataka Bank
  13. Oriental Bank of Commerce
  14. State Bank of India
  15. State Bank of Mysore
  16. State Bank of Travancore
  17. State Bank of Patiala
  18. The Federal Bank Limited
  19. The Saraswat Co-operative Bank Limited
  20. UCO Bank
  21. Union Bank of India

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 income tax return. 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 date of birth, and click on “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 on 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.

Benefits of Form 26AS

Form 26AS offers several benefits, including:

Reconciliation of TDS

It helps you reconcile TDS payments with your income tax return, ensuring that all TDS deducted from your income is accounted for.

Tracking TDS credits

It allows you to track the TDS credits received from various sources, helping you plan your tax payments accurately.

Identifying Discrepancies

It helps identify any discrepancies or errors in TDS deductions, enabling you to take corrective actions promptly.

Tax Planning and Compliance

It serves as a valuable tool for tax planning and ensuring tax compliance.

Structure and Parts of Form 26AS

Form 26AS has several components, as listed below:

Part A – TDS

This section offers information about tax deductions at source, such as those made by your employer on your salary, by your bank on interest income, on your pension, or on the rent you pay. It also includes the deductors’ information, such as their TAN and the amount deducted and deposited.

Part A1 - Form 15G/15H

Form 15G or 15H is submitted to avoid TDS deductions, and these details are captured in part A1 of Form 26AS.

Part A2 - Immovable Property Under Section 194

This part records those details wherein TDS is deducted for sales of a house or plot of land.

Part B – TCS

Tax collected at the source is detailed in this section and is collected at the point of sale by the product vendor. It includes the seller’s TAN as well.

Part C - Tax Paid Other Than TDS

If you have completed tax payments in the form of advance taxes in addition to TDS or TCS, those details will show up here.

Part D – Refunds

All the tax refunds that you receive will be shown under this section of Form 26AS.

Part E - Annual Information Returns

This section contains information about all high-value transactions conducted through banks. It includes details about mutual fund investments, the acquisition or sale of real estate, and the purchase of high-yield corporate bonds and debentures.

Part F - Tax Deducted On Immovable Property Sale For Buyers

TDS must be deducted before paying your seller, and this section records such details.

Part G – Defaults

This part contains details regarding the processing of the default tax statement.

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.

If any discrepancies exist, contact the deductor or the Income Tax Department for clarification and rectification.

What is the New Form 26AS?

The income tax agency has introduced a new annual information statement for taxpayers to the filing portal 2.0, which offers much more information than the 26AS form. The new order U/S 285BB from the IT department expands the scope of certain other details in Form 26AS, such as international transfers, IT return details, etc. All GST-related information will be included in the form.

There are now two parts to the New Form 26AS, which is now an Annual Information Statement (AIS).

PART A

Basic details, including the individual’s name, PAN card, Aadhar details, phone number, email address, communication address, etc., are included in Part A of Form 26AS.

PART B

Information regarding the following types of transactions will be included in Part B:

  • Information on tax deductions or source-based collections.
  • Details pertaining to particular financial transactions.
  • Information pertaining to tax payment.
  • Details about the demand and refund.
  • Information on ongoing legal matters.
  • Information about finished processes.
  • Any more details pertaining to 114-I’s subrule (2)

What is the Difference Between Form 16/16A and Form 26AS?

The TDS certificate (Form 16/16A) and Form 26AS are both important tax documents. However, they serve different purposes:

Feature

Form 16/16A

Form 26AS

Purpose

Provides details of TDS deducted on specific income sources

Provides a consolidated statement of all TDS deducted on income from various sources

Issued by

Deductor

Income Tax Department

Details provided

PAN, assessment year, deductor’s details, TDS amount, TDS challan details

PAN, assessment year, deductor’s details, TDS amount, TDS challan details for all income sources

Usage

Reconciliation of TDS for specific income sources

Reconciliation of TDS for all income sources, tracking TDS credits, identifying discrepancies

Summing It Up

Form 26AS plays a crucial role in the tax filing process by providing a comprehensive overview of all TDS deducted from your income from various sources. It helps you reconcile your TDS payments, track TDS credits, identify discrepancies, and ensure tax compliance. By understanding the purpose, structure, and benefits of Form 26AS, you can effectively utilize this valuable tool to manage your taxes and avoid any potential liabilities. As a taxpayer, it is your responsibility to confirm that the taxes you claim when filing your returns correspond to the taxes shown on your Form 26AS.

- A Consumer Education Initiative series by Kotak Life

Amit Raje
Written By :
Amit Raje

Amit Raje is an experienced marketer who has worked in various Fintechs and leading Financial companies in India. With focused experience in Digital, Amit has pioneered multiple digital commerce in India. Now, close to two decades later, he is the vice president and head of the D2C business department. He masters the skill of strategic management, also being certified in it from IIMA. He has challenged his challenges and contributed his efforts in this journey of digital transformation.

Amit Raje
Reviewed By :
Prasad Pimple

Prasad Pimple has a decade-long experience in the Life insurance sector and as EVP, Kotak Life heads Digital Business. He is responsible for developing user friendly product journeys, creating consumer awareness and helping consumers in identifying need for life insurance solutions. He has 20+ years of experience in creating and building business verticals across Insurance, Telecom and Banking sectors

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