Your Tax Credit Statement, also known as Form 26as, is an important tax document. The days of manually downloading Form 26as to file your IT returns are long gone. When filing income tax returns, you can now immediately import the information from Form 26as.
- Form 26as is an annual statement that contains information about tax deducted at source (TDS), tax collected by your collectors, advance tax paid, self-assessment tax payments, refunds received over a financial year, regular assessment tax deposited, and information about high-value transactions involving mutual funds, shares, and other securities.
- In addition to the existing data contained in the form, the new Form 26as, which goes into force on June 1, 2020, will include information on selected financial transactions, pending and finished assessment proceedings, tax demands, and refunds.
Process for Form 26as download
To obtain a copy of Form 26as, go to the TRACES website. You can also log in using your user ID and password at https://www.incometax.gov.in/iec/foportal/. You can also use the above-mentioned institutions' net banking services to download Form 26as.
To download Form 26as using your income tax department account, follow these steps:
The following is the procedure for downloading Form 26as from the new income tax portal:-
Go to https://www.incometax.gov.in/iec/foportal/ for further information.
Select 'Login' from the drop-down menu.
Fill in the User ID. To finish the login process, you must provide your PAN's Aadhaar number. You must finish the registration process before you can log in.
Click 'Continue' once you've entered the User ID.
Choose 'e-file' from the drop-down menu.
Then select 'Income Tax Returns.'
Then select 'View Form 26as'.
Next, select 'Confirm.'
Click 'Proceed' on the next page.
Then select 'View Tax Credit (Form 26as).'
Next, select the 'View Type' and 'Assessment Year.'
Next, decide on a format.
To finish the process, select 'View/ Download.'
Different parts of income tax Form 26as
Part A, Part B, Part C, Part D, Part E, Part F, and Part G are the seven parts of Form 26as. The following are the various parts of Form 26as:
Part A: TDS-related information
TDS on your pay, pension income, interest income, prize winnings, and other items are listed in Part A of your tax credit statement. It also includes the deductor's Tax Deduction and Collection Account Number (TAN) and the total amount of TDS deducted and deposited.
Part A1 contains TDS information for Form 15G/Form 15H.
When you submit Form 15G/Form 15H, Part A1 of Form 26as provides information about your income for which TDS was not deducted. If you have submitted the aforementioned form, you can check the status of the TDS deduction. If you haven't filled out Form 15G/Form 15H, this area will say "No transactions present."
Part B: TCS-related information
The tax collected at the source by the seller is detailed in Part B of Form 26as. Only if you are a vendor who has collected tax at the source will you fill out Part B.
Part C: Details on the taxes that have been paid (apart from TDS and TCS)
If you made any tax deposits yourself, information about them will appear in Part C of Form 26as. This section of Form 26as will also include information on self-assessment tax and advance tax. It will also contain information about the challan used to deposit tax.
Part D: Refunds that have been paid
If there are any refunds, they will be listed in Part D of Form 26as. It will also include information on the relevant assessment year for the refund, the method of payment, the amount and interest paid, and the date on which the payment was made.
Part E contains information about the AIR Transaction
Banks and financial organisations are expected to notify high-value transactions to the tax authorities. Part E of Form 26as will detail acquisitions of high-value mutual funds, high-value corporate bonds, and real estate, among other things.
Part F: Information on the tax deducted on the sale of real estate
If you have purchased a property, Part F of Form 26as contains information on the TDS you have deducted and deposited.
Part G contains information on TDS defaults
Part G of Form 26as offers information about how statements are processed.
How do I view Form 26as
- On the TRACES portal, you can view and download Form 26as (see below for the step-by-step guide on how to download Form 26as). Your PAN is linked to this income tax Form 26as.
- From FY 2008-09 onwards, you can access Form 26as using your bank account's net banking. A PAN holder with a net banking account with any authorised bank can use the service.
- Only if your PAN number is linked to that account may you view the Tax Credit Statement (Form 26as). This service is provided without charge.
The following is a list of banks that have registered with NSDL to provide a view of a Tax Credit Statement (Form 26as):-
Axis Bank Limited
Bank of India
Bank of Maharashtra
Bank of Baroda
City Union Bank Limited
ICICI Bank Limited
IDBI Bank Limited
Indian Overseas Bank
Kotak Mahindra Bank Limited
Oriental Bank of Commerce
State Bank of India
State Bank of Mysore
State Bank of Travancore
State Bank of Patiala
The Federal Bank Limited
The Saraswat Co-operative Bank Limited
Union Bank of India
Frequently asked questions
What is the purpose of IRS Form 26as?
Form 26as is a statement that shows the amount of TDS or TCS deducted from a taxpayer's various sources of income. The deductor subsequently deposits the tax deducted with the government. It also includes information on the taxpayer's advance tax, self-assessment tax, and high-value transactions.
How do I obtain a copy of the Tax Credit or Form 26as?
To view or download Form 26as, log in to your income tax portal account with your credentials, click on tab e-File, pick Income Tax Returns from the drop-down menu, and select View Form 26as, confirm, and click View 26AS. Choose the assessment year for which you want to view Form 26as from the drop-down menu, then Format Type, View, and Download. Choose to save the file as a PDF. Form 26as will be downloaded to your computer as a PDF file.
How do I access Form 26as using online banking?
Taxpayers can access and download Form 26as through any authorised bank's net banking. Only if the PAN is linked to that account may Form 26as be viewed. To see if your bank is permitted to provide Form 26as, go here.
How can I view Form 26as online without having to register?
- You must first register in order to access or download Form 26as from the income tax efiling service. If you want to download without logging in, you can do so using your net banking or authorised bank. Please visit www.incometax.gov.in to see if your bank is permitted to provide Form 26as.
- Go to the 'e-File' menu, pick 'Income Tax Returns' from the drop-down menu, and then 'View Form 26as'. Read the disclaimer and then click 'confirm' to be routed to the TDS Portal, where you must agree to the terms of service and click 'continue.' Select 'see tax credit' from the drop-down menu (Form 26as). Choose HTML as the 'view type' and the assessment year. Select view/download from the drop-down menu. The screen will display Form 26as.
When was the last time Form 26as was updated?
When the central pay commission processes TDS returns, Form 26as is updated. As a result, the deadline for filing TDS returns for quarter 4 is May 31st. The TDS refund must be processed within another 7 days. Once the processing is complete, the amount of TDS deposited against your PAN will be updated in 26AS.
What is the Form 26as password?
The password to open Form 26as is the taxpayer's date of birth in the format DDMMYY
In Form 26as, what is the transaction date and the booking date?
The date of credit or payment, whichever comes first, is the transaction date. The date on which the TDS return is completed and the amount booked in 26AS is referred to as the date of booking. This date will be after the TDS return has been submitted.
What details are there in form 26as?
Form 26as contains all of the information about the tax credit. Form 26as is a statement that shows the amount of TDS or TCS deducted from a taxpayer's various sources of income. The deductor subsequently deposits the tax deducted with the government. It also includes information on the taxpayer's advance tax, self-assessment tax, and high-value transactions. Form 26as has been modified to include information on the refund amount, self-assessment tax, and advance tax.
What is the purpose of Form 26as?
Because it provides proof of tax deducted and collected at source on our behalf, Form 26as is required. It also confirms that our employers and banks have deducted and deposited the correct taxes on our behalf into the government's account.
How can I fix a Form 26as error? How do I make changes on Form 26as?
The only option to fix the mistake on Form 26as is to notify the deductor and request that he file a corrected TDS return. The deductee is unable to make any changes to Form 26as.
What does the date of booking in Form 26as mean?
The date on which the TDS return is completed and the amount booked in 26AS is referred to as the date of booking. This date will be after the TDS return has been submitted.
When does TDS appear on Form 26as?
After the deductee files a TDS return and the CPC processes it, the tax deducted at source is recorded in Form 26as. CPC typically takes 7 days to process a TDS return that has been lodged.