Saturday, July 28, 2012

FORM 26AS - Verify Income Tax Details

What is FORM 26AS?

FORM 26 AS is a consolidated statement issued by Income Tax Department (TIN - Tax Information Network) to PAN holders which contains following details:
  • Tax deducted at Source (TDS) (Deposited by tax deductor).
  • Self Assessment / Advance Tax (Deposited by individual).
  • Tax collected at Source (TCS).
  • Tax Refund from Income Tax Department during financial year.
  • High value transactions in respect of Mutual Fund and Shares.
Individual can check TDS details in FORM - 16 issued by Tax Dedcutor, but if individual wants to check all above details on same place, can check FORM 26AS.

How to Check FORM 26AS?

FORM 26AS can be viewed by PAN holders from any of the websites as below:

Most easiest & convenient way to check Tax Credit Statement - FORM 26AS is using Income Tax India E-Filing site.

How to view FORM 26AS using Income Tax India E-Filing site?

To use this service PAN holders needs to login to Income Tax India E-Filing Site, if you are not registered then refer: One Time Registration with IncomeTaxIndiaE-Filing Site.
  • Login using your PAN and password.
  • Goto MyAccount -> View Tax Credit Statement (Form 26AS) as displayed below:

  • It will prompt for verification information below:

  • Provide the details and click on Submit button, it will display another page which contains message "You will be redirected to the NSDL website to view Form 26AS (Tax Credit Statement)." along with two buttons (Confirm & Cancel). Click on Confirm button.
  • You will be redirected to Tax Information Network - NSDL site as below:

  • Click on View FORM 26AS highlighted as above screen shot, It will open FORM 26AS. On this page user has option to view previous / current Assessment year's FORM 26AS. Sample FORM 26AS displayed as below:

    If you scroll down in FORM 26AS, you will find other portions of FORM 26AS (PARTB, PARTC and REFUND details).

Understand FORM 26AS?

It has 4 sections: PART A, PART B, PART C, Tax Refund details & High value transaction of Mutual fund and shares.

PART A: Details of TDS
It contains following details:
   Name of Deductor
   TAN of the Deductor
   Section under which deduction made - for details check Legends in form
   Date of Payment Credit
   Amount Paid / Credited
   Tax Deducted (Tax + Edu. Cess + Surcharge)
   TDS Deposited
   Status of Booking (P/F/U)  - for details check Legends in form
   Date of Booking
   Remarks (in case of reversal)

PART B: Details of TCS
It contains following details:
   Name of Collector
   TAN of the Collector
   Section under which collection made - for details check Legends in form
   Date on which amount paid / debited
   Amount Paid / Debited
   Amount of Tax Collected (TCS + Edu. Cess + Surcharge)
   TCS Deposited
   Status of Booking (P/F/U)  - for details check Legends in form
   Date of Booking
   Remarks (in case of reversal)

PART C: Details of Tax Paid (Other than TDS & TCS)
This section contains Self Assessment, Advance tax paid by individual by themselves. It contains following details:
   Major Head Code # - for details check Legends in form
   Minor Head Code % - for details check Legends in form
   Education Cess
   Total Tax
   BSR Code
   Date on which Tax Deposited
   Challan Serial No.
   Remarks (in case of reversal)

Details of Paid Refund
This section contains any refund received from Income Tax Department in current assessment year, refund may be of any financial year. It contains following details:
   Assessment year for which refund is paid
   Mode of Payment $ - for details check Legends in form
   Amount of Refund
   Date of Payment

On TIN NSDL site, Individual can save FORM 26 AS in PDF and text format. There are options available after all above sections.

FORM 26AS for Previous Year:

Individual can view FORM 26AS from Assessment Year 2006-07 on TIN - NSDL site. Change the assessment year in drop-down list located on upper left corner of the page and click on Submit button.

Clarification / doubt in FORM 26AS?

Possible reasons for mismatch/missing entry in Part A/B (Details of TDS or TCS) are as follow:-

  • Deductor/collector has not filed quarterly TDS/TCS return.
  • Deductor /collector has not quoted or has wrongly quoted your PAN in the TDS/TCS return.
  • You have not provided PAN or have provided wrong PAN to the deductor/collector
  • The TDS/TCS return filed by the deductor/collector is rejected in the system.

If you have any doubt / clarification required in Tax Credit statement for particular assessment year then please check with Tax deductor. 
If they are not able to help you then you can contact TIN Call Centre NSDL for any clarification which have not been  resolved by deductors. Below are contact details of TIN Call Centre NSDL:

Address: TIN Call Centre National Securities Depository Limited,
3rd Floor Sapphire Chambers,
Near Baner Telephone Exchange, 
Baner, Pune - 411045 (Maharashtra).
Telephone: 020 2721 8080
Fax: 020 2721 8081.

Note: For more details on FORM 26AS refer FAQ on FORM 26AS.

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