How to check & Verify Form 26As? A Step-by-Step Tutorial.

Hey, I am Ravi

In this blog, I am gonna show you how to understand the heading of Form 26As and how to check this form.

Form 26AS is an essential document for taxpayers in India as it summarizes the taxes deducted from your income and taxes paid on your behalf. This tutorial will guide you on how to access and verify Form 26AS through the TRACES portal and will explain the different sections of the form.

Steps to Access Form 26AS

To begin verifying your Form 26AS, you will need to follow these straightforward steps:

  • Log in to the Income Tax e-Filing Portal:

Visit the official e-Filing website of the Income Tax Department of India.
Enter your User ID (PAN), Password, and Captcha Code to log in.

  • Access Form 26AS from the Dashboard:

Once logged in, navigate to the ‘My Account’ menu and select ‘View Form 26AS (Tax Credit)’.

  • Redirect to the TRACES Website:

You will be redirected to the TRACES (TDS Reconciliation Analysis and Correction Enabling System) website. Accept the terms and conditions shown to proceed.

  • View Your Tax Credit Statement:

Click on ‘View Tax Credit (Form 26AS)’ to access your form. Choose the assessment year and the format you prefer (HTML, PDF, or Text).

Understanding the Sections of Form 26AS

Form 26AS contains various sections, each detailing different aspects of your tax information:

Part A: TDS Details

Deductor’s TAN: Identifies the tax deductor.
Total TDS: Reflects the total tax deducted from your income.
Transaction Date: Shows when the tax was deducted or credited to the government.

Part A1: TDS Exemptions (Forms 15G/15H)

Lists income where TDS was not deducted due to submission of Form 15G or 15H.

Part A2: TDS on Property Sale

Details TDS deducted on the sale of property under section 194IA.

Part B: TCS Details

Outlines tax collected at source by the seller of goods.

Part C: Direct Tax Payments

Displays details of advance tax and self-assessment tax payments.

Part D: Refunds Issued

Shows details of refunds issued by the IT Department.

Part E: High-value Transactions

Details of transactions reported through Annual Information Returns (AIR).

Part F: TDS on Property Purchase

Details TDS information for buyers of immovable property.

Part G: Defaults in TDS/TCS

Lists any defaults or inconsistencies in tax deductions or collections.

Regular verification of Form 26AS is crucial for ensuring all your tax credits are accounted for and that there are no discrepancies. By following the steps outlined in this tutorial, you can easily check your tax details against your records. This practice not only helps in seamless tax filing but also assists in managing your tax obligations more efficiently.