Form 26AS is the form which contains details of tax deductions. The original details that 26AS contains are tax deducted at source, the total amount of advanced tax paid, refunds and the other leading tax details. Popularly Form 26AS is known as the statement of annual tax-related activities and information of the person who is paying taxes. The form is associated with PAN, and it provides you with a clear idea about the taxpayer.
Structure of Form 26AS
Form 26AS is divided among the three major parts(A, B, and C), we tried to dumb down all the information related to this different parts of Form 26AS and what details they contain.
Section of Form 26AS contains details showing all of your incomes; it can be salaries, interest, other earnings, and pensions. Not only does it demonstrates the information about TAN, the name of the payer and total amount of tax deducted.
TCS – Tax Collected at Source details can be found in Part B of the Form 26AS. The detailed information in the form is shown from the perspective of the seller.
This is the part where the details about tax are mentioned. It gives information about advance taxes and self-assessment taxes.
Understand the Form 26AS
Jargon about taxes often scare people but in real it is a very simple thing. Form 26AS is the same case; we tried our best to make it as simple as possible. Below are the points that Form 26AS contains.
- Tax deducted.
- Details of tax are collected.
- Report of annual transactions.
We also have created a step by step guide on how to register and get passwords. Keep reading for more.
Step by Step Guide on how to download Form 26AS
There are two ways you can download the Form 26AS; one is by using official website TRACES, and another is using the authorized net banking facilities. We will explain the TRACES first.
Go to the official website (incometaxindiaefiling.gov.in) and log in. Use the password and username you registered. If you haven’t’ already registered then, use PAN Card to get registered on the official website.
Enter login/password with the date of incorporation to visit your dashboard on the IncomeTaxIndiaeFiling.gov.in.
The screen with different options will appear, on the left-hand side you will notice a link with title ‘View Form 26AS (Tax Credit)’, click on it.
You will ask to click on the confirm button so that website can redirect you to TRACES official site. Don’t worry as it is official government website.
TRACES website will ask you to confirm their terms and usage of Form 26AS.
After following all the steps, you will be redirected to fill the Form 26AS, fill it with the appropriate details. The next part is how you can fill the Form using 26AS. Here is the list of authorized net banking services you can use.