Form 26AS

TDS is a buzzword today not just among accountants or auditors or the finance people but also among the common man. TDS is the abbreviation for Tax deducted at Source (TDS). Your employer pays you salary after deducting Income tax. Similarly income tax is deducted on Fixed Deposit Interest, Commission, Brokerage and even on sale of immovable property such as land or building when the amount paid exceeds a threshold limit which is different for different kinds of payments. Form 26AS shows how much credit of TDS you have in your tax account.

Do you want to know how much tax has been deducted from your income in a particular financial year? A quick glance through your Form 26AS will reveal all about taxes deducted from you by various persons. It is also important that you check Form 26AS before you file your Income tax Return. This is because your Income tax Return filed will be processed by the Income tax department based on your Form 26AS. So when there is a mismatch between your incomes credited or TDS as per Form 26AS and as per your Income Tax Return, you could get a demand (tax payable) notice or there could be a delay in getting your refunds.

How to view your Form 26AS

Step 1 – Go to the Income Tax Efiling website by clicking on https://incometaxindiaefiling.gov.in/

Step 2 – New Users click on ‘Register Yourself’ tab on the top right corner of the Home page and complete the Registration process. Registered Users click on ’Login here’ tab on the top right corner of the Home page and login into your account

Step 3 – After logging in go to ‘My Account’ tab and click on ‘View Form 26AS (Tax Credit)’

Step 4 – Click on the ‘Confirm’ button

Step 5 – Click on the ‘I agree….’ check box and then click on ‘Proceed’

Step 6 – Click on View Tax Credit (Form 26AS) on the bottom of the TRACES page

Step 7 – Form 26AS page is displayed where you can choose the Assessment year and the format (HTML, Text or PDF) in which Form 26AS should be displayed. Generally the PDF format is comprehensive and easy to use. But when PDF format is chosen, you require a password to open the PDF document. The password is nothing but your Date of Birth. Just type your date of birth in ddmmyyyy format. (Remember not to use any special characters like / (slash) or  – (hyphen) in the date of birth)

Step 8 – The PDF automatically downloads into your computer. Save it in a preferred location in your computer.

What does Form 26AS contain?

Form 26AS is divided into parts from PART A to PART G. The following table shows what each Part contains in short.

Part Description
Part A Details of Tax Deducted at Source
Part A1 Details of Tax Deducted at Source for 15G / 15H
Part A2 Details of Tax Deducted at Source on Sale of Immovable Property u/s 194IA(For Seller of Property)
Part B Details of Tax Collected at Source
Part C Details of Tax Paid (other than TDS or TCS)
Part D Details of Paid Refund
Part E Details of AIR Transaction
Part F Details of Tax Deducted at Source on Sale of Immovable Property u/s 194IA(For Buyer of Property)
Part G TDS Defaults (Processing of Statements)

 

Now Let us see each part in detail:

Part A – Details of Tax Deducted at Source

Part A of Form 26AS contains your TDS information party-wise or deductor-wise in the following format

Sr. No. Name of Deductor TAN of Deductor Total Amount paid / credited Total Tax Deducted Total TDS deposited
           

 

Further under the Name of the Deductor column the following information is also displayed

Section Transaction date Status of booking Date of booking
       

What does the above column headings mean?

Column Heading Description
Sr.No. Parties / Deductors are serially numbered one by one
Name of the Deductor The name of the party who has deducted tax from you
TAN of the Deductor The Tax Account Number of the deductor which he has to obtain for the purpose of deducting tax
Total Amount paid / credited Total amount paid / credited in your account by the deductor on various dates before deducting TDS
Total tax deducted Tax deducted from you
Total TDS paid Total TDS paid to the Government on your behalf
Section Section of the Income tax  Act under which TDS has been made. Refer table below to know what each section number means.
Transaction date date of payment / credit to your account
Status of booking Status is denoted by a letter. Refer Status of booking table below to know what each letter signifies
Date of booking Date of recording in the Government account

Sections and their meanings

Section Description
192 Salary
192A TDS on PF withdrawal
193 Interest on Securities
194 Dividends
194A Interest other than ‘Interest on securities’
194B Winning from lottery or crossword puzzle
194BB Winning from horse race
194C Payments to contractors and sub-contractors
194D Insurance commission
194DA Payment in respect of life insurance policy
194E Payments to non-resident sportsmen or sports associations
194EE Payments in respect of deposits under National Savings Scheme
194F Payments on account of repurchase of units by Mutual Fund or
Unit Trust of India
194G Commission, price, etc. on sale of lottery tickets
194H Commission or brokerage
194I Rent
194IA TDS on Sale of immovable property
194J Fees for professional or technical services
194K Income payable to a resident assessee in respect of units of a specified mutual fund or of the units of the Unit Trust of India
194LA Payment of compensation on acquisition of certain immovable property
194LB Income by way of Interest from Infrastructure Debt fund
194LC Income by way of interest from specified company payable to a
non-resident
194LBA Certain income from units of a business trust
194LBB Income in respect of units of investment fund
194LBC Income in respect of investment in securitization trust
194LD TDS on interest on bonds / government securities
195 Other sums payable to a non-resident
196A Income in respect of units of non-residents
196B Payments in respect of units to an offshore fund
196C Income from foreign currency bonds or shares of Indian
196D Income of foreign institutional investors from securities
206CA Collection at source from alcoholic liquor for human consumption
206CB Collection at source from timber obtained under forest lease
206CC Collection at source from timber obtained by any mode other
than a forest lease
206CD Collection at source from any other forest produce (not being
tendu leaves)
206CE Collection at source from any scrap
206CF Collection at source from contractors or licensee or lease
relating to parking lots
206CG Collection at source from contractors or licensee or lease
relating to toll plaza
206CH Collection at source from contractors or licensee or lease
relating to mine or quarry
206CI Collection at source from tendu Leaves
206CJ Collection at source from on sale of certain Minerals
206CK Collection at source on cash case of Bullion and Jewellery
206CL Collection at source on sale of Motor vehicle
206CM Collection at source on sale in cash of any goods(other than
bullion/jewelry)
206CN Collection at source on providing of any services (other than
Ch-XVII-B)

Status of booking

Letter Description Definition
U Unmatched Deductors have not deposited taxes or have furnished incorrect particulars of tax payment. Final credit will be reflected only
when payment details in bank match with details of deposit in TDS / TCS statement
P Provisional Provisional tax credit is effected only for TDS / TCS Statements filed by Government deductors.”P” status will be changed to
Final (F) on verification of payment details submitted by Pay and Accounts Officer (PAO)
F Final In case of non-government deductors, payment details of TDS / TCS deposited in bank by deductors have matched with the
payment details mentioned in the TDS / TCS statement filed by the deductors. In case of government deductors, details of TDS
/ TCS booked in Government account have been verified with payment details submitted by Pay & Accounts Officer (PAO)
O Overbooked Payment details of TDS / TCS deposited in bank by deductor have matched with details mentioned in the TDS / TCS statement
but the amount is over claimed in the statement. Final (F) credit will be reflected only when deductor reduces claimed amount in
the statement or makes additional payment for excess amount claimed in the statement

Part A1 – Details of Tax Deducted at Source for 15G / 15H

Sr. No. Name of Deductor TAN of Deductor Total Amount paid / credited Total Tax Deducted Total TDS deposited
           

PART A2 – Details of Tax Deducted at Source on Sale of Immovable Property u/s 194IA(For Seller of Property)

Sr. No. Acknowledgement Number Name of Deductor PAN of Deductor Transaction Date Total Transaction Amount Total TDS deposited
             

PART B – Details of Tax Collected at Source

Sr. No. Name of Collector TAN of Collector Total Amount paid / debited Total Tax Collected Total TCS deposited
           

PART C – Details of Tax Paid (other than TDS or TCS)

Sr.No. Major Head Minor Head Tax SC EC Others Total Tax BSR Code Date of Deposit Challan Serial No. Remarks
                       

The columns Major Head and Minor Head refer to the type of taxes paid. Refer Table below for what each code of Major Head & Minor Head means.

Major Head

Code Description
0020 Corporation Tax
0021 Income Tax (other than companies)
0023 Hotel Receipt Tax
0024 Interest Tax
0026 Fringe Benefit Tax
0028 Expenditure Tax / Other Taxes
0031 Estate Duty
0032 Wealth Tax
0033 Gift Tax

Minor Head

Code Description
100 Advance Tax
102 Surtax
106 Tax on distributed profit of domestic companies
107 Tax on distributed income to unit holder
300 Self Assessment tax
400 Tax on regular assessment
800 TDS on sale of immovable property

PART D – Details of paid Refund

Sr.No. Assessment Year Mode Amount of Refund Interest Date of Payment Remarks
             

Part E – Details of AIR Transaction

Sr.
No.
Type of Transaction Name of AIR Filer Transaction Date Single / Joint Party Transaction No. of parties Amount Mode Remarks
                 

Notes for AIR :

Due date for filing Annual Information return by specified entities (Filers) is 31st August, immediately following the FY in which transaction is registered / recorded. This section will be updated after filing AIR.

Transaction amount is total amount reported by AIR filer. It does not reflect respective share of each individual in joint party transaction.

Type of Transaction

Code Description
001 Cash deposits aggregating to ten lakh rupees or more in a year in any savings account of a person maintained in a banking company to which the Banking
002 Payment made by any person against bills raised in respect of a credit card aggregating to two lakh rupees or more in a year.
003 Receipt from any person of an amount of two lakh rupees or more for purchase of units of a Mutual Fund.
004 Receipt from any person of an amount of five lakh rupees or more for acquiring bonds or debentures issued by a company or institution.
005 Receipt from any person of an amount of one lakh rupees or more for acquiring shares issued by a company.
006 Purchase by any person of immovable property valued at thirty lakh rupees or more
007 Sale by any person of immovable property valued at thirty lakh rupees or more
008 Receipt from any person of an amount of five lakh rupees or more in a year for investment in bonds issued by Reserve Bank of India.

PART F – Details of Tax Deducted at Source on Sale of Immovable Property u/s 194IA(For Buyer of Property)

S.No. Acknowledgement Number Name of Deductee PAN of Deductee Transaction Date Total Transaction Amount Total TDS Deposited*** Total Amount Deposited other than TDS###
               
S.No. TDS Certificate Number Date of Deposit Status of Booking* Date of Booking Demand Payment TDS Deposited*** Total Amount Deposited other than TDS###
  Gross Total Across Deductees            

 

*Notes:

Defaults relate to processing of statements and donot include demand raised by the respective Assessing Officers.

For more details please log on to TRACES as taxpayer

Contact Information

Part of Form 26AS Contact in case of any clarification
A Deductor
A1 Deductor
A2 Deductor
B Collector
C Assessing Officer / Bank
D Assessing Officer / ITR-CPC
E Concerned AIR Filer
F NSDL / Concerned Bank Branch
G Deductor

 

** Remarks


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