Form 26AS basically is an official form that contains details of deducted tax by tax deductors. The form also contains details of tax deducted at source, tax collected at source, details of advance tax, along with Refunds and high-value transactions deducted on behalf of the taxpayer.
Listed below are the details that Form 26AS will contain.
- Tax deducted by the deductors on behalf of the taxpayer
- Details of tax collected by the tax collectors on behalf of the taxpayer
- Advance tax, self-assessment tax, regular assessment tax deposited by PAN holders/ taxpayers
- Paid refund
- Details of Annual Information Report transactions
Structure of Form 26AS:
Form 26AS is mainly divided into three parts, A, B and C. Listed below is a detailed explanation of all the three parts that constitute Form 26AS.
Part A:
Part A of the Form 26AS contains details of the tax deducted at source. It contains details of all the taxes deducted at source from salary, pension income and interest income. It contains details of the deductor including their name and TAN along with details of the tax amount deducted.
Part B:
Part B contains details of the collected at source (TCS) by the seller or merchant of the goods that was sold to the customer. It contains all details with respect to the seller and tax collected.
Part C:
Part C contains details of the Direct Tax paid by the taxpayer. It includes advance tax, self-assessment tax and also the details of the challan through which the tax was deposited.
How to View Form 26AS?
There are two ways in which one can view their Form 26AS. Both the methods use the online facility to display the Form 26AS for the customer. Listed below are the two ways in which one can view their Form 26AS online.
- Traces: One can view and analyze their Form 26AS through Traces (TDS Reconciliation Analysis and Correction Enabling System) facility. One has to be registered with Traces in order to view the Form 26AS through this facility. Listed below are the steps that has to be followed in order to view your form.
- The customer has to visit the Income-tax India e-filing website and locate the Form 26AS which is available on the website.
- Login into the account using details such as PAN number, password, date of birth or date of incorporation. If the customer doesn’t already have an account, they have to register.
- Give confirmation to be redirected to the TDS-CPC website
- Click on the link at the bottom of the page
- Choose the assessment year and the format in which you want to view the form
- Obtain the form
- Net Banking Facility: Another way to view your Form 26AS is through net banking facility through the bank. Any PAN holder who has access to net banking with authorized banks can use this facility. The Form 26AS can be viewed only if the PAN number is connected to the account. The customer doesn’t have to pay to use this service, it comes free of cost. This is available only on certain authorized banks in India.
Form 26AS Registration:
The customer can view their Form 26AS online by registering online. The customer has to go to the TRACES website and register as a new user by providing few details including address, communication details and PAN number.
Why download or view the Form 26AS?
Taxes are complicated. However, there is no way to escape it. You must deal with them. As per your income, you will have to pay the taxes. But we all want to save taxes as much as possible. The Form 26AS is of utmost importance. It is the passbook in relation to the income tax credit and debit. Keep a track of Form 26AS to be on right side of law.
Things that you must know about the Form 26AS:
- The Form 26AS is linked to the Permanent Account Number.
- The Form 26AS can be downloaded from TRACES website.
- On and from Financial Year 2008-2009, you can view your Form 26AS.
How to view the Form 26AS without registering:
If you are browsing from an authenticated source, you can access the Form 26As on the TRACES website. Registering to TRACES is not required. If you do not wish to remember another password, avoid getting registered.
List of banks that offer the facility of viewing 26AS forms:
- Allahabad Bank
- Kotak Mahindra Bank Limited
- Andhra Bank
- Oriental Bank of Commerce
- Jammu and Kashmir Bank Limited
- Karnataka Bank Limited
- Vijaya Bank
- Indian Overseas Bank
- United Bank of India
- Indian Bank
- Union Bank of India
- IDBI Bank Limited
- UCO Bank
- ICICI Bank Limited
- The Saraswat Co-operative Bank Limited
- HDFC Bank
- The Karur Vysya Bank Limited
- Dena Bank
- Corporation Bank Syndicate Bank
- The Federal Bank
- City Union Bank Limited
- State Bank of Travancore
- Citibank India
- State Bank of Patiala
- Central Bank of India
- State Bank of Mysore
- Canara Bank
- State Bank of India
- Bank of Maharashtra
- Bank of Hyderabad
- Bank of India
- State Bank of Bikaner & Jaipur
- Bank of Baroda
- Punjab National Bank
- Axis Bank
In case, you find your bank on this list but cannot view the Form 26AS, tell your bank immediately. This problem mainly happens if the PAN or Permanent Account Number is not mapped correctly.
Reading the Form 26AS:
On TRACES website, you can get your 26AS form. There are three different formats of it. You may download the PDF or text document format. The text document format is not very easy to understand. It is advisable that you download the PDF format. To open the PDF format file, you must enter the password. The password for your document is your birth date in DDMMYYYY format. Select the assessment year for which you wish to download your Form 26AS and click on download.
