Form 26AS is a statement which showsvarious details including tax deductedor collected at source, Advance Tax orSelf-Assessment Tax, etc.
It is important to note thatForm 26AS is not filed by thetaxpayer themselves, but itis generated and madeavailable by the Income TaxDepartment of India throughtheir online portal.
Taxpayers can access theirForm 26AS by logging intotheir account on the IncomeTax Department's website.
Form 26AS is aconsolidated tax creditstatement issued bythe IT Department.
It contains details of all thetaxes that have been deductedfrom your income by youremployer, bank or any otherdeductor, and deposited withthe government on your behalf.
A taxpayer may pay tax in anyforms such as Tax Deducted atSource (TDS), Tax Collected atSource (TCS), Advance tax orSelf-assessment Tax.
The Income Tax Departmentmaintains a database of thetotal tax paid by all taxpayers,which is called tax credit inthe taxpayer's account.
The ITD generally allowstaxpayers to claim thecredit of taxes as reflectedin their Form 26AS. + + + + + +
Form 26AS is required to be filed byanyone who has a PAN and hasreceived any of the following typesof income during the financial year.
Liked What You Saw?View More More
Find Out
More