Tax Credit Status (Form 26AS)

Tax Credit Statement (Form 26AS)

Tax Credit Statement (Form 26AS) contains details of:

A. Tax deducted on behalf of the taxpayer by deductors.

A l. Details of NO/Low tax deduction.

A2. Tax deducted on sale of Immovable property (for seller of Property).

B. Tax collected on behalf of the taxpayer by collectors.

C. Advance tax/self assessment tax/regular assessment tax, etc. deposited by the taxpayers (PAN holders).

D. Refund received by the taxpayer during the financial year

E. The high value transactions in respect of shares, mutual funds etc. (as reported by AIR filer).

F. Tax deducted on sole of Immovable property (for buyer of property).

G. Comprehensive view of TDS defaults relating to all TAN’s associated with a PAN.

Note: Form 26 AS con be viewed for assessment year 2009-10 onwards. Form 26 AS also shows current status of PAN (active/inactive/deleted).

How to view your form 26AS?

Tax Credit Statement (form 26A5) can be viewed/accessed in three ways:

i. View Tax Creditfrom https://www.incometaxindiaefiling.gov.in

Taxpayers who are registered at the above portal viz https://incometoxindiaefiling.gov.in can view 26AS by login using username and password. Clicking on ‘View Form 26AS (Tax Credit)’ In “My account”, and then filling in required details like assessment year, date of birth/Incorporation and verfification code, the same can be viewed. The facility is available free of cost and registered user may use the link https://incometax Indiaefiling.gov.in for this purpose.

ii. View Tax Credit (Form 26AS) from bank site through net banking facility

The facility is available to a PAN holder having net banking account with any of authorized banks*. View of Tax Credit Statement (Form 26AS) is available only if the PAN is mapped to that particular account. The facility is available free of cost.

List of Banks registered for providing view of Form 26AS :

1. Allahabad Bank

2. Axis Bank

3. Bank of Barodo

4. Bank of India

5. Bank of Maharashtra

6. Canara Bank

7. Citibank N.A.

8. City Union Bank Ltd.

9. Corporation Bank

10. ICICI Bank Ltd.

11. IDISI Bank Ltd.

12. Indian Overseas Bank

13. Indian Bank

14. Jammu & Kashmir Bank Ltd.

15. Karnataka Bank Ltd.

16. Kota Mahindra Bank Ltd.

17. Punjab and Sind Bank

18. Oriental Bank of Commerce

19. State Bank of India

20. Syndicate Bank

21. The Federal Bank Ltd.

22. The Karur Vysya Bank Ltd.

23. The Saraswat Co- operative Bank Ltd.

24. UCO Bank

25. Union Bank of India

26. Vijaya Bank

27. HDFC Bank Limited

28. Central Bank of India

29. Andhra Bank

30. United Bank of India

31. Dena Bank

32. Punjab National Bank

33. Induslnd Bank

Note This option does not require any separate registration as the KYC of the taxpayer has already been done by the concerned bank.

iii. View Tax Credit from https://www.tdscpc.gov.in

 For Resident Taxpayers:

A resident taxpayer first need to register on TRACES (https://tdscpc.gov.in). After registering, Form 26AS, can be viewed by clicking on ‘View Tax Credit Statement (Form 26AS}’ after login as “Taxpayer” and filing in required details like password and relevant assessment year.

For Non-Resident Taxpayers:

An NRI taxpayer can view tax credit from htips://www.nriservices.tdscpc.gov.in. NRI taxpayers first need to register at TRACES Portal. A request can be raised to view/download Form 26AS by clicking on ‘View Tax Credit Statement {Farm 26A5}’ after login as “Taxpayer” and filing in required details like password and relevant assessment year.

Form 26A5 statement can be downloaded either as PDF/text/excel file could be viewed es HTML

All these three link: can also be acceesed on national website of Income Tax Department (www.incometax.india.gov.in). There is an option to view the tax credit wherein the user is taken to e-filing website, internet banking or TRACES website based on the choke of the taxpayers to view his tax credit.

Note:- For records greater than 1,000 a download request for Form 26AS as text file needs to be submitted at TRACES by its registered users.

For any clarification regarding Form 26AS, contact authorities as mentioned below:

Usefulness of Tax Credit Statement (Form 26A5):-

• 26AS enables view of all financial transaction involving TDS/TCS during the relevant Financail Year at one place.
• Give details of NO/Low deductions claimed by the taxpayer.
• Helps in claim of other taxes paid by the taxpayer and computation of income of the time of Filing of return of income.
• Helps in Seamless processing of Income Tax Return and Speedy Issue of refunds.
• Verification of Refunds encashed during the financial Year.
• Verification of CIN in non-TDS pa yments.
• Help taxpayer to view the tax demand created by the Intone Tax Deportment for his necessary follow up.
• Facility to download the TDS certificate (Form 16A) after entering the unique seven character TDS certificate number.
• Status of PAN.
• Comprehensive view of TDS defaults relating to all the TANs associated with a PAN.
• Helps in compliance of Section 40(a)(ia) of Income Tax Act and preparation of Audit Reports in Form 3CD.

Action in case of missing credites

Follow up with deductor to-

• Ensure that correct PAN hos been intimated to the deductor
• Ensure that the deductor has deposited tax deducted. Regular view of 26AS by the tax payer helps in timely follow up with the deductors.
• Taxpayer can use “View TDS/TCS credit” facility using the link https:Wwww.tdscpc.gov.in/appitapn/tdscscreclit.xlitml to know whether the deductor/collector has filed quarterly TDS/TCS statement provided the PAN and the count on records present.
• Taxpayer con also raise a grievonce at “Taxpayer Grievance Module” on TRACES.