Income Tax Returns (ITR)

Your Tax Credit Statement or Form 26AS is an important document for tax filing. Gone are the days when one has to download Form 26AS for filing IT returns manually. The scope of the statement has now been expanded to include details of foreign remittances, mutual funds purchases, dividends, refund details, etc.

What is Form 26AS?

The Tax Credit Statement, also known as Form 26AS, is an annual statement that consolidates information about tax deducted at source (TDS), advance tax paid by the assessees with self-assessment tax, and tax collected at source (TCS). All this information is related to your Permanent Account Number (PAN).

Moreover, the form shows details on any sale or purchase of immovable property, cash withdrawals or deposits from savings accounts, and mutual funds.

You may claim the tax deducted as shown in this form at the time of filing your Income Tax Returns (ITRs) for the relevant financial year.

What is the purpose of Form 26AS?

This form is issued under section 203AA of the Income Tax Act, 1961 and Rule 31AB. It is an important document that can be used for the following purposes.

  • Acts as proof that tax has been deducted and collected on your behalf
  • Confirms that the bank has accurately provided the details of tax deposited
  • Works as a record of tax paid in your ITR
  • Confirms that accurate tax is deducted by different entities and has been deposited in the government account

How to view Form 26AS?

You may view Form 26AS by PAN no. on the TDS Reconciliation Analysis and Correction Enabling System (TRACES) portal.

Alternatively, the form can be viewed via Internet banking from Financial Year 2008–2009. The following banks allow you to view the form via net banking.

Axis BankBank of BarodaBank of India
Bank of MaharashtraCitibankCity Union Bank Limited
Corporation BankICICI BankIDBI Bank
Indian BankIndian Overseas BankKarnataka Bank
Kotak Mahindra Bank LimitedOriental Bank of CommerceState Bank of India
State Bank of MysoreState Bank of TravancoreThe Federal Bank Limited
The Saraswat Co-operative Bank LimitedUCO BankUnion Bank of India

Step-by-step process to download Form 26AS

The Form 26AS download can be done via the TRACES website. Alternatively, you can use your login credentials on the income tax e-filing portal to download this form.

Here is the step-by-step procedure.

  • Enter your credentials and click ‘Continue’
  • Under ‘e-file’, select ‘Income Tax Returns’
  • Click ‘View Form 26AS’ and then select ‘Confirm’
  • Click ‘Proceed’ on the next page followed by selecting ‘View Tax Credit’
  • Input ‘View Type’ and ‘Assessment Year’ and choose the format
  • Click ‘View/Download’ to finish the process

Different components of Form 26AS

When you view Form 26AS before filing your ITR, ensure the information in the form is accurate. The following are the components of the form.

  • TDS and TCS
  • Details of advance tax and self-assessment tax paid
  • Income tax refund information
  • Details related to the sale of immovable property
  • Information about Annual Information Return (AIR) transactions

Part A: Details of Tax Deducted at Source (TDS)

It shows the TDS related to your PAN. The deductors file quarterly TDS returns, which can be seen in this form.

The information in this section includes the name and Tax Deduction and Collection Account Number (TAN) of deductors, the total amount paid, total tax deducted, and total deposited tax against your PAN.

Part A1: Details of TDS for Form 15G or Form 15H

It comprises information about the income when no TDS is applicable; this is when you submit Form 15G or 15H.

If you have not submitted either of these forms, it shows ‘no transactions present’.

Part A2: Details of TDS on sale of immovable property under section 194 IA (for sellers)

When you sell an immovable property during the previous year and deduct taxes on it, the amount is shown under Part A2.

Part B: Details of Tax Collected at Source (TCS)

This section shows the details of TCS by sellers of specified products when these are purchased by the assessees.

Additionally, vendor details like name and TAN of collector, the total amount paid, the total tax collected, and the total TCS deposited are shown here.

Part C: Details of tax paid, other than through TDS or TCS

It comprises details of any tax paid, which includes self-assessment and advance taxes. Additionally, information related to the payment challans is seen in this part.

Part D: Details of refunds received

Information related to tax refunds, such as assessment year, payment date and mode, refund issued, nature and amount of refund, interest paid, and remarks are shown in Part D.

Part E: Details of Annual Information Return (AIR) transactions

This section shows details of high-value transactions that ‘specified persons’ like mutual funds and banks must report. This part that reflects specified financial transactions (SFTs) was previously known as AIR.

Part F: Details of tax deducted on the sale of immovable property under section 194 IA (for buyers)

This part is for buyers of immovable property and shows the details on the TDS amount deducted while buying the property.

Part G: Details of TDS defaults (processing of defaults)

Any defaults related to the processing of statements are shown in this section. However, it does not reflect any demands raised by the assessing officers (AOs).

Important Questions

  • How do I download Tax Credit Statement or Form 26AS? To view or download Form 26AS, log in with your income tax portal account credentials.
    1. Go to the ‘e-File’ tab on the home page, click ‘Income Tax Returns’ from the drop-down, and select ‘View Form 26AS’. 
    2. Read the disclaimer and click on ‘Confirm’, and you will be redirected to the TRACES portal.
    3. Agree to the acceptance and usage of Form 16/16A generated from TRACES, and click on the ‘Proceed’ button. 
    4. Now, click ‘view tax credit (Form 26AS)’ to view Form 26ASA. 
    5. Select the ‘Assessment Year’ and ‘View type’ (HTML, Text or PDF). 
    6. Click on the ‘View/Download’ button. 
    7. Form 26AS will open up on the screen. If you want to download it as PDF, click on the ‘Export PDF’ button. A PDF file of the Form 26AS will be downloaded.
  • How to view Form 26AS through net banking? Taxpayers can view/download Form 26AS through net banking of any of the authorised banks. Form 26AS can be viewed only if the PAN is mapped to that particular account. Click here to check if your bank is authorised to provide the facility of downloading Form 26AS.
  • How to check Form 26AS online without login? To view or download Form 26AS from the income tax e-filing portal, you must register yourself. However, if you wish to download without login, you can do the same through your net banking facility of authorised bank where your account is maintained. Login to your net banking account using your internet banking login credentials and click on the ‘Tax Credit Statement’ to view details.Click here to check if your bank is authorised to provide Form 26AS
  • When does Form 26AS get updated? Form 26AS gets updated when the income tax department processes the TDS returns filed by the TDS deductors. Thus, the last date for filing TDS returns for the fourth quarter is 31st May. Further, seven days are taken to process the TDS return filed. Once the processing is completed, Form 26AS is updated with the latest amount of TDS reported against your PAN.
  • What is the password of Form 26AS in pdf format? The password to open the pdf format of Form 26AS is the taxpayer’s date of birth/incorporation in DDMMYYYY format.
  • What do you mean by transaction date and date of booking in Form 26AS? Transaction date means the date of credit or payment of income, whichever is earlier.
    Date of booking means the date on which TDS return is processed and the amount booked in Form 26AS. This date will be the date after the TDS return is filed.
  • What is Form 26AS used for? Form 26AS gives you all the details of tax credit for taxes paid during the financial year. Form 26AS is a statement that provides details of any amount deducted as TDS or TCS from various sources of income of a taxpayer. It also reflects advance tax/self-assessment tax details and high-value transactions entered into by the taxpayer. Form 26AS has been updated to include details of specified financial transactions, pending and completed assessment proceedings, tax demands and refunds.
  • Why is Form 26AS required? Form 26AS is required because it provides proof of tax deducted and collected at source on our behalf. Further, it confirms that the entities (employers, banks, etc.) have deducted accurate taxes on our behalf and deposited them into the government’s account so that credit for the same can be claimed.
  • How to rectify errors in Form 26AS? How to make corrections in Form 26AS? The only way to rectify the error in Form 26AS is to inform the deductor and ask him to file a rectified TDS return. The deductee cannot himself make any corrections in the Form 26AS.
  • What is the meaning of the date of booking in Form 26AS?Date of booking means the date on which TDS return is processed and amount booked in Form 26AS. This date will be the date after the TDS return is filed.
  • When will TDS reflect in Form 26AS? Tax deducted at sources gets reflected in Form 26AS after the deductee files TDS return and the same is processed by the CPC. Usually it takes around seven days for CPC to process the TDS return filed.
  • How to download Form 26AS in excel format? Follow the below steps to download Form 26AS in excel format:
    1. Login income tax e-filing account > Go to the ‘e-File’ menu, click ‘Income Tax Returns’ from the drop-down and select ‘View Form 26AS.
    2. Read the disclaimer and click on ‘Confirm’.
    3. And the user will be redirected to TDS portal, agree to the acceptance and usage of Form 16/16A generated from the TRACES portal and click on the ‘Proceed’ button.
    4. Click ‘View tax credit (Form 26AS)’. 
    5. Now select the ‘Assessment Year’ and ‘View type’ as ‘Excel’. Click on the ‘View/Download’ button.