If your company hasn’t given your Form 16, which gives details of your tax deducted at source (TDS), don’t fret yet. Taxpayers can check online if the tax deducted from the salary has actually gone to the department on a facility set up by the income tax (I-T) department. Also, in the absence of Form 16, a taxpayer can use this facility to get TDS credit details and file returns accordingly.

The facility is available to all taxpayers, including those who file returns manually. “One only needs to have a Permanent Account Number (PAN),” said a senior I-T official.

A taxpayer has to just register himself by providing personal details on the department’s online system. Once registered, a person can see his TDS details from the financial year 2005-06.

This  facility will not only benefit the salary class, but also businessmen and people who take on contract work and receive payments from different people. Payments in such cases are made after deducting tax.

“Sometimes the person making the payment avoids giving the TDS certificate. In such cases, it could be checked if the TDS has actually gone to the department,” the official said.

He added that in some cases while making the payment, people deduct the tax and give certificate, but do not deposit the same (tax) with the department. “It not only happens with small businessmen, but also with big groups,” the official said, adding that now an employee or payment receiver can find out the details and inform the department in case he or she finds any discrepancy.

This facility is taxpayer friendly. Now all assesses, whether salaried or non-salaried, can view their tax credit statements by registering free.

Online view of Tax Credit Statement (Form 26AS) of taxpayer is also available to net banking account holders of registered banks for the benefits of the tax payer. The Tax credit Statement (Form 26AS) helps to taxpayers in following:-

1. Preparing income tax returns

2. Verify detail of tax deducted at source (TDS)

3. Verify detail of tax collected at source

4. Verify detail of tax payment made by taxpayer (advance tax/self assessment tax)

5. Detail of refunds

6. Details of AIR Transaction

7. Details of Tax Deducted on sale of immovable property u/s194IA (For Buyer of property

8. Details of TDS defaults(Processing of Defaults)

The Tax Credit Statement (Form 26AS) are generated wherein valid PAN has been reported in the TDS returns as well as in the OLTAS challans.

One of the modes through which tax payer can avail view of Tax Credit Statement (Form 26AS) is through net banking facility provided by banks. To avail this facility, the PAN holder is required to have net banking account with any of authorized bank, where in view of Tax Credit Statement (Form 26AS) can be made available to PAN holder which is mapped to that particular account. To provide this facility to net banking account holder, bank should get registered them self with National Securities Depository Limited (NSDL).

List of banks registered with NSDL for providing view of Tax Credit Statement (Form 26AS) are as below

1. Axis Bank Limited

2. Bank of India

3. Bank of Maharashtra

4. Bank Of Baroda

5. Citibank N.A.

6. City Union Bank Limited

7. Corporation Bank

8. ICICI Bank Limited

9. IDBI Bank Limited

10. Indian Overseas Bank

11. Indian Bank

12. Karnataka Bank Limited

13. Kotak Mahindra Bank Limited

14. Oriental Bank of Commerce

15. State Bank of India

16. The Federal Bank Limited

17. The Saraswat Co-operative Bank Limited

18. UCO Bank

19.Union Bank of India

(Republished With Amendments)

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  1. A.L.Chaudhary says:

    Many of the deductors who have deducted tax are not uploading the information on NDSL web site for FORM 26AS. I have FDs with PSU banks and reputed companies which includes TATA group also . Some of my TDS is information are not appearing in FORM 26AS while others are with remark as U Unreconciled. I have taken up the issue with bank and compnay but no solution. There should be penal provsions for defaulting deductors for not putting TDS information on NSDL web site.

  2. Rekha says:

    Updates from this site are very informative and very useful.
    through this one can update with current tax matters.

    thanks to this website

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June 2021