Form 26AS

Form 26AS is a kind of annual statement sharing all details about tax deducted at source and tax collected by your collectors. Apart from that, any advance tax paid, self-assessment tax payments, and information regarding refunds received over a financial year. Any information regarding high-value transactions so far as mutual funds, shares, etc. are concerned.

The process to download Form 26AS :

Log on to the website of TRACES, or visit https://www.incometax.gov.in/iec/foportal/ with your id and password.

You can also download form 26AS using your net banking facility.

  • Log in to the official e-filing website at https://www.incometax.gov.in/iec/foportal/
  • Click on 'Login'.
  • Enter the User ID.
  • Sharing Aadhaar and PAN details are a must to complete the login process. Before you can log in, you must complete the registration process.
  • Once you have entered the User ID, click on 'Continue'.
  • Select 'e-file'.
  • Next, click on 'Income Tax Returns'.
  • Then, click on 'View Form 26AS' and Select 'Confirm' next.
  • On the next page, click on 'Proceed'.
  • Next, click on 'View Tax Credit (Form 26AS)'.
  • Choose the 'View Type' and 'Assessment Year' next.
  • Choose the format next.
  • Select 'View/ Download' to complete the process.

Different parts of Form 26AS :

Form 26as has 7 parts, viz. Part A, Part B, Part C, Part D, Part E, Part F, and Part G. Here are the different parts of Form 26AS:

  • Part A : Information regarding TDS
    • It includes details like tax credit statements on your pension, salary, interest income, prize winnings, etc. It includes the deductor’s TAN details as well as the TDS number that was deposited and subtracted.
  • PartA1 : Information regarding TDS for Form 15G/Form 15H
    • Part A1 of Form 26AS contains information regarding your income where TDS has not been subtracted when you have submitted Form 15G/Form 15H. Through this, one can verify the status of the TDS deduction. “No transactions present' will be displayed in this section in case you have not furnished Form 15G/Form 15H.
  • Part B: Information regarding tax collected at the source.
    • Part B of Form 26AS provides information on the tax collected at the source. It will display entries only if any tax is collected at the source.
  • Part C: Information regarding tax paid (apart from TDS and TCS)
    • Information regarding tax paid (apart from TDS and TCS) All information regarding any advance tax paid or self-assessment tax will also be present in this form 26AS. It will also include details regarding the challan used to deposit tax.
  • Part D: Information regarding paid refund
    • It includes information regarding the assessment year that is related to refund, payment mode, the amount as well as interest paid along with the date on which payment has been done.
  • Part E: Information regarding AIR Transaction
    • It provides details regarding the high-value transactions reported by financial institutions and banks. Part E of Form 26AS will contain information regarding purchases of high-value mutual funds, purchase of high-value corporate bonds, property purchases, etc.
  • Part F: Information regarding tax deduced on the sale of immovable property
    • Part F of Form 26AS includes detail regarding the TDS you have deducted and deposited in case you have purchased a property.
  • Part G: Information regarding TDS defaults
    • Part G of Form 26AS contains information regarding the processing of statements.
  • Part H: Turnover details
    • Part H contains information regarding turnover according to GSTR-3B

Significance of Form 26AS :

  • You can check from this form whether your tax collector has filled out the TDS Statement. It will specify details of all tax collected on your behalf if you have been deposited in the government account on time.
  • You can verify the tax credits and calculation of income tax before filing your income tax return.

The online process of submitting Form 26A/27BA:

  • Log on to the TRACES website by clicking on the link https://www.tdscpc.gov.in/app/login.xhtml
  • Click on 'Request for 26A/27BA' which you can find under the 'Statement/Payments' section.
  • It will redirect to you a page where you will be able to view the guidelines you will have to follow to submit your Form 26A/27BA online. Click on 'Proceed'.
  • Choose the Form Type, transaction, and financial year from the drop-down menu and click on Proceed’.
  • As you request for Form 26A/27BA, a request number will be generated. Click on 'Go to Track Request for 26A/27BA'.
  • The Form 26A/27B will be displayed on your screen. If you had raised a request for Non-Deduction/Collection you will get an option to upload the file.
  • Choose the 'Download' option and click on 'Requested Download the utility form'.
  • Enter the verification code and then click on the 'Submit' button.
  • The files downloaded will be in zip format. Extract the files and add the relevant records.
  • After extracting the files from the utility and get them validated by running them through the JAVA application.
  • Under the 'Status' for Non-Deduction/Non-Collection you will find the 'Upload Files' option. Click on it.
  • Share the verification code
  • Click on the ‘upload’ option, and complete the verification process by entering your digital signature and I-Pin, in case redirected from the website,
  • You will get a confirmation from TRACES once the verification is successful
  • Click on 'Go to Track Request for 26A/27BA' where you will be able to view the status as 'Submitted'.
  • Once the request gets validated successfully, it will be sent for 'E-filing' after which the status will also show 'E-filing'.

Important things to check in TDS certificate with form 26AS :

Always check for details mentioned in your form. Make sure your name PAN, TAN, refund amount, and TDS amount are correctly mentioned. In case any of the details are found to be incorrect, you will find difficulties in filing your income tax returns.

Check that the TDS reflected in Form 16/ 16A is reflected on your Form 26AS. In case, TDS is not reflecting, it means the deductor has not submitted the full TDS but is yet to submit it to the IT department. In such a case, get in touch with your deductor immediately and get the issue resolved at the earliest.

What is Annual Income Statement ?

The Income Tax Department has come up with the Annual Information statement to get some other transaction details. It is mainly related to foreign remittances, interest received, mutual fund purchases, break-up details, and ITR information of any other person. Although these details earlier being provided by authorized bodies. There is form 15CC states that all done to NRIs, transfer agents, and depositors report off the market.

Frequently Asked Questions

  • What comes under Form 26AS?
    This form includes all information about the tax deducted on your income like tax collected by collectors, self-assessment tax payments, advance tax paid by you, assessment tax deposited by you, and the details of the refund received.
  • How to save TDS deductions?
    By submitting Form 15G and Form 15H.
  • What to do if advance tax paid details are reflecting wrongly?
    You will have to take up this issue with your bank and rectify the amount.
  • How to rectify address and PAN details in form 26AS?
    You should apply through the 'Request for new PAN card or/and changes or correction in PAN data' option on the website of Income Tax Department.
  • How to set the password of Form 26AS in PDF format?
    The password of Form 26AS in PDF format is the tax payer’s date of birth/incorporation in DDMMYYYY format.
  • When will TDS reflect in Form 26AS?
    The TDS will start reflecting in Form 26AS on completion of TDS return filing process. The entire process will take around seven days.