Income tax form 26AS

Form 26AS basically a form which indicates that the tax has been deducted and deposited with the Government . In other words you can say it's a Tax Credit Form for PAN holders which indicates the Tax deducted on your income and deposited with Government .

The Form 26AS contains:

• Details of tax deducted on behalf of the taxpayer by deductors
• Details of tax collected on behalf of the taxpayer by collectors
• Advance tax/self assessment tax/regular assessment tax, etc. deposited by the taxpayers (PAN holders)
• Details of paid refund received during the financial year
• Details of the High value Transactions in respect of shares, mutual fund etc.

Benefits of Form 26AS ;

Every Tax Payer receive the Form 16 / Form 16A (Certificate of tax deducted and deposited by the Deductor) , Form 26AS help taxpayer to cross check the with Tax Credit Statement .

a) The tax deducted/collected by the deductor/collector has been deposited to the account of the government;
b) The deductor/collector has accurately filed the TDS/TCS statement giving details of the tax deducted/collected on your behalf;
c) Bank has properly furnished the details of the tax deposited by you.

In future you will be able to use this consolidated tax statement (Form 26AS) as a proof of tax deducted/collected on your behalf and the tax directly paid by you along with your income tax return after the need for submission of TDS/TCS certificates and tax payment challans along with income tax returns has been dispensed with by the Income Tax Department (ITD).
However as of now for claiming the credit for tax deducted/collected at source you may be required to enclose TDS/TCS certificates (Form 16/16A) issued to you by the deductor.

Process to Download/View Form 26AS ;

Form 26AS can be downloaded or View through 3 different portals ;

1- Income tax website

2- TRACES website

3- Any Bank website 

1- Registered user can view Form 26AS logging into their account through https://incometaxindiaefiling.gov.in .

2- Income Tax Dept. set up a new portal called TRACES (TDS Reconciliation Analysis and Correction Enabling System) to view or download Form 26AS ,Registered user can view Form 26AS logging into their account through https://www.tdscpc.gov.in/app/tapreg1.xhtml , 

For online tutorial on how to register for Form 26AS through TRACES website refer below link

http://contents.tdscpc.gov.in/en/taxpayer-registration-login-etutorial.html#

3- View Tax Credit (Form 26AS) from bank site through net banking facility The facility is available to a PAN holder having net banking account with any of authorized banks. Viewing the Tax Credit Statement (Form 26AS) is available only if the PAN number is mapped to that particular account. This facility is available for free.

 For any query leave your comments below .