How to access Form 26AS – Tax Credit Statement?
Form 26AS is an annual statement of a permanent account number (PAN) which has all the information about TDS, TCS, refunds etc. It states the amount of tax received by the government through various sources like business income, salary, bank FD’s etc. It is dispensed under rule 31AB of the income tax department. What ist he importance of Form 26AS? How to access Form 26AS – Tax Credit statement? Can we access this Form 26AS through Bank site or through Income Tax Website?
What is the importance of Form 26AS?
Form 26AS has much significance to your income tax return to be filled to the Income Tax Department.
- It contains all the detailed information of the TDS, TCS, and direct tax paid by the taxpayer. It is very important to check and overview Form 26AS before filling your return.
- It helps you to check if the tax deducted by the deductor has been collected and paid to the government.
- It helps to find out if the tax collected on your behalf by the other party and he has properly filled TDS/TCS statement with the complete details.
- It helps to find if your bank has accurately equipped you the details of the tax paid by you from your account.
- You don’t have to attach a copy of TDS certificate while filling your income Tax Statement.
What is the Structure of Form 26AS?
The structure is divided into three parts. Part-A, Part-B and Part-C.
PART A: It contains the details of all Tax Deducted at Source (TDS) from your income like salary, rent or other sources. It also has the complete details of your TDS deductor.
PART B: This has the details of the all Tax Collected at Source (TCS) on the goods sold to the customers.
PART C: This contains the details of all the tax which are paid directly by the taxpayers like self-assessment tax, Advance Tax etc.
How to Download Form 26AS from Income Tax Website?
The following are the guidelines to download Form 26AS from Income Tax website.
- Log on to the website incometaxindiaefiling.gov.in.
- Click on ‘Form 26AS (Tax Credit)’.
- Login using your user Id and password and date of birth (your user id is your PAN (permanent account number).
- You will get a pop up message showing ‘You will be redirected to TDS-CPC website to view Form26AS (Tax Credit Statement)’. Click on ‘Confirm’.
- Select and click on ‘I agree terms and conditions’ and then click on ‘Proceed’.
- Select ‘View Tax Credit (Form 26AS)’ on left panel on your screen.
- Select the assessment year you want to download, the format you want to view in ‘View as’ option and then click on ‘view/download’ option.
- You will get the detailed list of TDS (Tax deducted at source) in your account.
How to Download Form 26AS through a Bank Account?
You can also download and view your Form26AS directly through your bank account. The following are the steps you can follow to download Form 26AS through your Bank
- Open the website of your respective bank where you have an account.
- Log in with your user Id and password.
- Click on the ‘View Income Tax Statement’ on the left pane.
- You will be asked to confirm your PAN/TAN details. Click on ‘Confirm’.
- This will connect you to the TDS site of the Income Tax Department.
- Select and tick on ‘I Agree terms and conditions’ and click on ‘Proceed’ button.
- Click on ‘View Tax Credit (Form 26AS)’.
- Select the assessment year you want to view, then select the format in ‘View as’ option.
- Click on ‘View/Download’ option on the screen.
- You will get the list of TDS (Tax Deducted At Source) in your account.
- This would contain entire TDS and not just pertaining to the bank transactions through which you have logged in. e.g. If you have logged In through ICICI Bank, you would see all TDS transactions through ICICI Bank and other banks (if you have accounts and TDS is deducted). This way, you need not download the individual TDS details from all banks where you are holding the accounts or if you have any other transactions other than Bank FD TDS.
Conclusion: Tax Credit Statment – Form 26AS is useful to know how much TDS, TCS or any other tax paid against your PAN number. You need not worry about TDS statements any more. You can download this report and submit your income tax returns after verifying it.
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How to access Form 26AS – Tax Credit Statement