Form 26AS: How To Download Form 26AS In 5 Simple Steps
Form 26AS is a consolidated annual tax statement where one can check the details of Annual Information Return (AIR). It gets filed by different entities on the basis of what a person has spent or invested. Since it’s considered as one of the essential tax documents for any taxpayer, acquire detailed knowledge about its usage, features, download process, etc., before filing your ITR!
This post takes you through the process of viewing, downloading and submitting form 26AS. Read on!
Components of Form 26AS
It is important to check if the data regarding tax deducted at source, as shown by the IT Department, is accurate before filing your ITR. In order to do that, you must go through the tax credit statement, which comprises the following:
- Part A – It deals with TDS or Tax Deducted at Source. Part A is subdivided into PartA1, which deals with no or low tax deducted from Form 15G/15H. Part A2 deals with TDS from the sale of immovable property for the seller.
- Part B – It deals with TCS or Tax Collected at Source.
- Part C – This part deals with information on advance tax and self-assessment tax paid.
- Part D – This part details regarding income tax refunds in a financial year such as ITR, 26QB, TAN, etc.
- Part E – This part details the purchase of property, mutual funds, bonds, etc.
- Part F – This part details the TDS for the sale of immovable property for the buyer and the TDS on rent for tenants.
- Part G – This section deals with TDS defaults.
Also Read: Tax Benefits On Personal Loan
Importance of Form 26AS
Form 26AS helps compute your income and verify your tax credits before filing for tax returns. It helps check if the tax collected or deducted by the collector or deductor has been deposited on time.
Features of New Form 26AS
As per the announcement made by the Central Board of Direct Taxes (CBDT), some new financial details have been incorporated in Form 26AS. Find all new features added by the Income Tax Department below:
- Details regarding foreign remittances that have been reported in Form 15CC.
- Data from other taxpayers’ ITRs
- Information related to tax deducted at source on salary in Annexure-II of the previous quarter’s Form 24Q
- PAN details in form 61/61A, which suggests that in case an assessee receives a permanent account number after submission of Form 61, it has to be mentioned in form 26AS
- Interest earned on income tax refund of a prior FY
- RTA-reported data regarding mutual fund purchases
- Information regarding off-market transactions reported by depository/registrar and transfer agent (RTA).
- Dividend information with regard to a mutual fund, disclosed by RTA
To obtain all this information, you can go ahead and view your income tax 26AS Form for a particular financial year.
How to View Form 26AS?
Here are certain ways in which you can view your tax credit statement for a specific assessment year:
- From the TRACES portal where you can view the form as well as download it in a PDF format
- If you have access to a net banking facility offered by any authorised financial institution, you can use it to view the document for free.
Keep in mind that to avail of the net banking facility, it is mandatory to have your PAN card linked with the bank account you are using.
Also Read: How To File ITR Online?
How to Download Form 26AS?
There are two ways through which you can download Form 26AS online. You can use the new e-filing portal. Alternatively, you can avail the net banking facility of authorised banks.
Through e-Filing Portal
One can obtain Form 26AS via IT Department’s online portal by following these steps:
- Step 1 – Go to the e-filing website and log in using your credentials.
- Step 2 – Next, click on the ‘e-file’ option to proceed further. You will find a drop-down menu, choose the ‘Income Tax Returns’ option, and then select ‘View Form 26AS‘.
- Step 3 – Now, you will find a disclaimer stating that you will be redirected to the TDS/CPC website to download Form 26AS. You need to click on ‘Confirm’ to proceed further as it is a third-party website.
- Step 4 – On the TRACES website, you will find ‘View/Verify Tax Credit’, click on it, and then select ‘View 26AS’.
- Step 5 – From the drop-down menu, choose the right assessment year. To download the 26AS income tax form (PDF), select ‘HTML’ under the ‘View As’ tab drop-down list. Then, click on the ‘View/Download’ and then ‘Export as PDF’ option.
You can also download Form 26AS in text format. For that, you will have to select ‘Text’ from the ‘View As’ tab drop-down list and then click on ‘View/Download’.
Via Net-Banking Facility
Follow the procedure mentioned below to view and download Form 26AS using the net-banking facility:
- Step 1 – Log into your net banking account.
- Step 2 – Find the Tax tab from the portal of the concerned financial institution where these services usually remain available. From there, you can easily view your tax credit statement and download it.
In the downloaded document, you can check whether both your TDS and TCS statements are correctly filled or not.
How to Submit Form 26AS?
Once you visit the TRACES website you can submit your form by following these steps:
- Step 1 – Click on “Request for 26A/27BA” which can be found under the ‘Statement /Payment’ section.
- Step 2 – The guidelines to submit your form 26A/27BA online will be then visible to you, then click on ‘Proceed’
- Step 3 – You will have to select the Form Type, Financial Year and the Transaction Type from the drop-down menu. Click on ‘Proceed’.
- Step 4 – A request number will be generated as per your request for the Form. You will have to click on ‘Go to track request for 26A/27BA’.
- Step 5 – Your request for Form 26A/26BA will be visible to you on your screen and if you have raised a request for Non-deduction or Collection then an option to upload the file will appear.
- Step 6 – You will then have to ‘Click on Requested Download’ under the Download option and proceed to download the utility form.
- Step 7 – You will have to enter the verification code and click on the ‘Submit button.’
- Step 8 – You can download the TRACES Sample for Non-deduction or Non-Collection along with the utility.
- Step 9 – The downloaded files will be in Zip format after which we will have to extract the files and add the relevant records.
- Step 10 – After extracting the files from the utility it has to be run through the Java application to get them validated.
- Step 11 – You will find the ‘Upload Files’ option under the status for Non-Deduction/Non-Collection, click on it and enter the verification code.
- Step 12 – After clicking on the upload option you will have to enter a digital signature and I-PIN if redirected from the bank’s website to fulfil the verification process.
- Step 13 – After getting a confirmation from TRACES on successful verification you can click on ‘Go to Track Request for 26A/27BA’ and the status will be ‘Submitted’.
- Step 14 – After the successful validation of the request it will be sent for ‘E-filing’ after which the status will also change to ‘E-filing’.
Review Details in TDS Certificate and Form 26AS
Here is a list of necessary aspects in your TDS certificate that you need to tally with Form 26AS:
- Cross-check the necessary information such as your name, refund amount, PAN, deductor’s TAN, TDS amount, etc.
- Make sure to verify if the Central Government has received your TDS as represented in the certificate.
- Check if the TDS mentioned in both Form 26AS and Form 16/16A match with each other. In case the TDS is not mentioned in the form, it indicates that TDS has been deducted by the deductor, but the IT department hasn’t received it yet.
In case you find any discrepancy while going through the 26AS Form, make sure to get in touch with the IT department for clarification.
Points to Remember
- Form 26AS is linked to your PAN.
- Form 26AS can only be downloaded by PAN holders from the TRACES portal.
- Form 26AS is generated annually.
- Form 26AS is generated when a tax transaction takes place.
Final Word
Now that there are more financial details of the assessee available in Form 26AS, it has become easier to detect any kind of discrepancy in the system. You can check your tax obligations, transaction details and all the relevant information within just a few minutes!
FAQs on Form 26AS
Ans: You can view Form 26AS online without registration through net banking.
Ans: To rectify the error(s) in Form 26AS, your deductor can file a TDS correction statement to the Income Tax department. Or, you can upload a statement explaining the reason for the mismatch in information when a query is raised by the income tax department.
Ans: Yes, Form 26AS can be downloaded in PDF format from the TRACES website and will remain password protected. To open that file, enter the password that consists of the taxpayer’s date of incorporation/DOB in DDMMYYYY format.
Ans: It will take 7 days for TDS to reflect in Form 26AS.
Ans: In case you see that some of the entries in your Form 26AS are not applicable to you, it is necessary to notify the deductor/collector regarding this immediately. You can also inform your assessing officer stating the same to fix the issue.
Ans: You can easily update your PAN details by submitting an application using the ‘Request for new PAN card/ changes or correction in PAN data.’ Use the TIN website in this regard for updating your PAN details.
Ans: Transaction date mainly refers to the date of credit or payment (whichever is earlier). Whereas date of booking refers to that particular date on which TDS return is successfully processed, and the booking of the amount in Form 26AS is completed.
Ans: TDS gets reflected in the tax credit statement once the Centralized Processing Centre or CPC processes the TDS return after the taxpayer files it. Generally, it takes 7 days for the CPC to process TDS returns.
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This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
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