All about 26AS!

The first form that anyone generates for filing an Income Tax Return is 26AS. Form 26AS gives overall view of tax deducted for your PAN at various sources. This is basic detail that the 26AS provide with. In this article we will have a detailed view of Form 26AS.

Form 26AS is a hub of the details of the income tax deducted in a particular financial year. The tax may be deducted for various sources of income like deduction on commission income, interest received from Fixed deposits, or on salary etc.

Part A:

Form 26AS displays various taxes that are deducted from your income by your employer, bank, or your tenant. It will let you know Name of deductor, TAN of deductor, Total amount paid/ credited, Total Tax Deducted and Total amount deposited.

Part A1:

In case if you have given with Form 15G/ 15H the deduction in that respect shall be available separately. (Part A1)

Part A2:

This part of the Form will give details of Tax Deducted at Source on Sale of Immovable Property u/s 194IA/ TDS on Rent of Property u/s 194IB (For Seller/Landlord of Property)

PART B:

Form 26AS also gives the details of Tax Collected at Source in PART B.

Part C:

It contains details of Tax Paid (other than TDS or TCS). Tax paid includes Advance tax.

Part D:

This part contains the details of refund credited during the Financial Year. It contains the details like the assessment year to which the refund pertains. The mode of refund, amount of refund and also the date of payment is mentioned in the form.

Part E:

Details of Annual Information Return Transactions are available in this part of 26AS.

Due date for filing Annual Information return by specified entities (Filers) is 31st August, immediately following the FY in which transaction is registered / recorded. This section of 26AS gets updated after filing AIR.

PART F:

Details of Tax Deducted at Source on Sale of Immovable Property u/s 194IA/ TDS on Rent of Property u/s 194IB (For Buyer/Tenant of Property).

PART G:

It will let you know TDS Defaults. The details of Financial Year, Short Payment, Short Deduction, Interest on TDS Payments Default, Interest on TDS Deduction Default, Late Filing Fee u/s

234E, Interest u/s 220(2), Total Default will be available.

Form 26AS is a weapon that helps you to compare your taxes deducted from your income and actual deposit of it with the Government.

How to download form 26AS?

Any tax payer can download his form 26AS with a valid PAN number. To do this you need to login at Income Tax Department’s website.

There you need to go to your account and select View Form 26AS. On next page, you will get a notice about you being redirected to another website. You can click on continue button and agree to accept the usage of income tax form 16 traces. Then you need to select the year for which you would require your form 26AS and need to download the form to view your tax credit details.

You can select view as HTML to see your form 26AS.

To download the same you can export it in PDF.