Form 26AS is an annual consolidated tax statement that can access from the official website of Income Tax. This form is accessed by all the taxpayers using their Permanent Account Number. If you have paid the tax from your income or if the tax is deducted from your income then all the information is stored in the Income Tax Department Database.
The Form 26AS contains:
- Details of the tax deducted from your income by the Deductors.
- Details of the tax collected by the collectors.
- Advance tax paid by the taxpayer.
- Self-assessment tax payments
- Regular assessment tax deposited by the taxpayers (PAN Holders)
- Details of the refund received by you during the financial year.
- Details of the High valued transactions in respect of shares, mutual funds etc.
You can download the Form 26AS in two ways:
- From the TRACES website OR
- Via Net Banking Facility of the Authorized banks.
- 1 How to Download and View Form 26AS through the TRACES Website
- 2 View the Form 26AS through Net Banking of your Bank Account
- 3 Parts of the Form 26AS
- 3.1 Part A – Details of Tax Deducted from Source
- 3.2 Part B – Details of the Tax Collected at Source
- 3.3 Part C – Details of the Tax paid (Other than TDS and TCS)
- 3.4 Part D – Details of Paid Refund
- 3.5 Part E – Details of AIR Transactions
- 3.6 Part F – Details of the Tax Deducted on sale of immovable property u/s 194IA (For Buyer of Property)
- 3.7 Part G – TDS Defaults * (Processing Defaults)
How to Download and View Form 26AS through the TRACES Website
TRACES is known as TDS Reconciliation Analysis and Correction Enabling System. This is one of the products of the Income Tax Department. This main objective of the TRACES website is that it allows online correction for already filed TDS Returns. It is a hassle-free system. The PAN Card and Challan corrections can be made using the online rectification.
- Registration: For downloading the Form 26AS, the tax Deductor needs to get registered himself/herself on the official website of the Income Tax Department. The official link to the Income Tax website is incometaxindiaefiling.gov.in. Once the registration is completed, a login id and a password are allotted. Now the tax Deductor has to login using these credentials.
- Login:Enter the PAN Number, password, and date of birth/ date of incorporation in DD/M/YYYY Format. Also, enter the captcha code that is provided in the box. Now click to login.
- Go to “My Account” and click on the “View Form 26AS” in the drop-down menu.
- Click on the “Confirm” button so that you are redirected to the “TRACES” website.
- Now when you reach the “TRACES” website, select the box on the screen and click on “Proceed”.
- Now click the link present at the bottom of the page- “Click View Tax Credit (Form 26AS) “to view your Form 26AS.
- Choose the Assessment Year and the type of Format you want to view the Form 26AS. Like for example, if you want to view the Form online, then leave the format in HTML. If you want the form in PDF Format then you can download the form in PDF format so that you can save it for the future reference.
- After you are done with the Format selection, enter the “Verification Code” and click on the View/Download.
- Viewing the Form 26AS is completely Password protected which means to open the document you need to enter a Password. Form 26AS password is your Date of Birth- DDMMYYYY format. And after entering the password you can view the Form 26AS.
View the Form 26AS through Net Banking of your Bank Account
This facility is available to the PAN Holders who are having a net banking account with any of the authorized banks. You can view the Form 26 AS (Tax Credit Statement), only when your PAN Card is linked to the respected net banking account.
The banks that are registered with the NSDL for providing to view the Tax Credit Statement are as follows:
- Axis Bank Limited
- Bank of India
- Bank of Maharashtra
- Bank of Baroda
- Citi bank N.A
- Corporation Bank
- City Union Bank Limited
- ICICI Bank Limited
- IDBI Bank Limited
- Indian Overseas Bank
- Indian Bank
- Kotak Mahindra Bank Limited
- Karnataka Bank
- Oriental Bank of Commerce
- State bank of India
- State Bank of Mysore
- State Bank of Travancore
- State Bank of Patiala
- The Federal Bank Limited
- The Saraswat Co-operative Bank Limited
- UCO Bank
- Union Bank of India
Parts of the Form 26AS
A Form 26AS contains the following parts
Part A – Details of Tax Deducted from Source
This has the details of the taxes deducted from your salary, interest income, pension income and prize winnings etc. The TAN of the Deductor and the amount of the TDS deducted and TDS deposited is also mentioned. This information is provided on the quarterly basis.
Part A1 – Details of the Tax Deducted from Source for Form 15G/Form 15H
This provides the details of the income where no TDS is deducted, as the taxpayer has already submitted the Form 15G/ Form 15H. You can also verify the status of the TDS deduction if you have submitted the Form 15G/ Form 15H. If you haven’t submitted the form then it will display “No transactions present”.
Part A2 – Details of the Tax Deducted at Source in Immovable Property u/s 194 (IA) (For Seller of property)
If in case you have sold any property during the year then and the TDS is deducted from your receipts then you will find the related entries in there.
Part B – Details of the Tax Collected at Source
This has the details of the tax collected at the source by the seller of the goods. The entries are present here if you are a seller and the tax is collected by you.
Part C – Details of the Tax paid (Other than TDS and TCS)
If you have deposited any tax by yourself then that information will be displayed here. Details of the advanced tax and assessment tax are also present here. It also contains the details of the Challan through which the tax is deposited.
Part D – Details of Paid Refund
This section contains the information that you have received your refund. It also displays the related assessment year to which the refund pertains, along with the mode of the payment, an amount paid and interest paid along with the date of the payment.
Part E – Details of AIR Transactions
This section mainly contains the high-value transaction records. Banks and other financial institutions are also required to report high-value transactions to the tax authorities. It also includes the mutual fund purchases of higher values, property purchases, and high-value corporate funds.
Part F – Details of the Tax Deducted on sale of immovable property u/s 194IA (For Buyer of Property)
If you have bought a property and you have to deduct the TDS before making the payment to the seller. This section contains the details of the TDS deducted and TDS deposited by you.
Part G – TDS Defaults * (Processing Defaults)
This section includes the defaults related to the processing of the statements and it does not include any demand raised by the assessing officer.
- A Taxpayer can also avail the facility of the online correction of TDS Challan by registering himself on the TRACES website.
- Apart from PAN and Challan Corrections, all the other corrections will be made through the offline mode through TIN-FC.