I am sure you check your Bank statements regularly, but do you check your Tax credit Statement ?
When tax is deducted (TDS) on your salary by employer or on FD interest by bank , they need to deposit these taxes to Income Tax department under your PAN. There are instances where the taxes are deducted but not deposited and in such cases, one might get demand notice from Income Tax deptt.
It is always better to check your Tax Credit Statement before filing your Income Tax return. This statement is called Form 26AS.
What is Form 26AS
Form 26 AS is consolidated tax statement which includes details of
- tax deducted on behalf of the taxpayer by deductors
- tax collected on behalf of the taxpayer by collectors
- Advance tax/self assessment tax/regular assessment tax, etc. deposited by the taxpayers (PAN holders)
- Details of paid refund received during the financial year
- High value Transactions in respect of shares, mutual fund etc.
As Income tax payer is no longer required to attach photocopy of TDS certificate along with Income tax return, Form 26AS is used as a proof of tax deducted/collected on your behalf and the tax directly paid by you along with your income tax return.
Who should check Form 26AS
Though it is responsibility of company / bank who has deducted tax, to pay the amount to Income Tax deptt, but we should check it regularly to ensure things are correct as ultimately it is our money. Like we check our Bank Statements regularly to ensure that amount deposited are correctly credited to bank account.
What if your TDS details not appearing on Form 26AS or appearing wrong
In case of any discrepancy in your Form 26AS, you should immediately contact your employer / bank who has deducted the Tax for rectification. Common mistakes are wrong PAN number with the deductor.
How can I view / check my Form 26AS
There are 3 ways / options to check Form 26AS
- Income Tax India efiling website
- NetBanking of Authorised banks
- through registration at NSDL Website
View Form 26AS on Income Tax India efiling website
- To check Form 26AS online on Income Tax efiling website, you need to visit
- Register on website for FREE
- After you login, you will find the option to view Form 26AS under “My Account” tab
- You will need to enter Date of Birth verification & Confirm to proceed to check Form 26AS
- You can then select the relevant Assessment year to check the related Form 26AS
NetBanking of Authorised banks
If you have bank account at one of the 35 authorised banks and have activated net banking, you can also view Form 26AS through your net banking account. See the List of Authorised Banks.
Through registration at NSDL / TIN Website
You can also register at NSDL website to view Form 26AS online. Here is the link https://nsdl.co.in/
The facility is available to PANs that are registered with Tax Information Network for view of 26AS statement. The PAN holder has to fill up an online Registration form for such purpose. Thereafter, verification of PAN holder’s identity is done by the TIN-Facilitation Centre personnel either at PAN holder’s address or at the TIN-facilitation center that has been chosen by the PAN holder. The verification involves a cost at prescribed rates. Once authorised, the PAN holder can view Tax Credit Statement online.
It is important that you check Form 26AS before you file your Income Tax return to ensure that the information is correct & accurate. To avoid delays & manual process, you can choose Option 1 (Income Tax India website) or Option 2 (Net Banking) to check your Form 26AS.
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