TDS is TAX deducted at Source that is taken care of by the Central Board of Direct Taxes. The TDS is the way of collecting Income Tax from the citizens of India as per the Income Tax Act 1961. All amount that is covered under the provision of TDS.
What is TDS Return?
TDS return is a statement issued by the employer each quarter and it is being submitted to the office of the Income Tax Department of India.
The main components of TDS Return are
- Deductor(s) Details
- Information regarding total tax paid to the government at present
- Permanent Account Number (PAN)
Steps to check the TDS Status using PAN Card
- Log on to the website of TDS by mentioning the Key verification code
- After entering the code, click on ‘ Proceed’.
- Enter PAN and TAN details.
- Choose the financial year as well as the quarter and the type of return
- Click on ‘ Go’
- The conclusion is that details will be displayed on the corresponding screen.
The procedure of checking TDS using form 26AS
- Log on to the website of the Income Tax Department of India
- If you are new to the website, register yourself.
- If you already made registration, log on using the credentials.
- Go to ‘My Account’
- Click on ‘View Form 26AS’Select ‘Year’ and ‘PDF format’ and download the file.
Please note that your Form 26AS is password protected and is opened only by entering details like Date of Birth as per the PAN Card. Apart from knowing TDS status by PAN Card and Form 26AS, one can also view their TDS online by using net banking. However, for that, you are required to do linking of PAN with net banking portal.