When it comes to filing Income Tax Returns (ITR) in India, Form 26AS plays an important role. It is a consolidated statement issued by the Income Tax Department that reflects all tax-related information linked to a taxpayer’s PAN. From TDS (Tax Deducted at Source) to advance tax payments, Form 26AS ensures transparency and accuracy in tax filing.
Form 26AS is an annual consolidated tax credit statement issued under Section 203AA of the Income Tax Act. It contains details of tax deducted on your income, tax collected at source, advance/self-assessment taxes paid, and high-value transactions. It helps taxpayers verify that the taxes deducted on their behalf have been correctly deposited with the government.
Form 26AS includes multiple types of information such as:
Form 26AS is divided into different parts:
Taxpayers can view and download Form 26AS through multiple platforms.
The Income Tax Department has partnered with several banks. If your PAN is linked to your bank account, you can log in to net banking and access Form 26AS.
TRACES (TDS Reconciliation Analysis and Correction Enabling System) allows taxpayers to view and download Form 26AS directly.
Registered users can log in and directly fetch Form 26AS linked with their PAN.
The format of Form 26AS is available in PDF and text formats. You can download it directly from TRACES or Income Tax Portal for FY 2024-25 to reconcile your TDS and tax payments.
In addition to Form 26AS, the Income Tax Department has launched the Annual Information Statement (AIS), which provides more detailed information on transactions such as securities, mutual funds, dividends, and foreign remittances.
Together, they ensure transparency and prevent underreporting of income.
TDS Certificates (Form 16 for salary, Form 16A for non-salary payments) should always be cross-verified with Form 26AS to ensure correct tax credit is available.
Form 26AS acts as a mirror of your tax transactions. It prevents tax evasion, ensures correct tax credits, and is an essential document while filing ITR. It helps you reconcile your tax liability and claim refunds if excess TDS is deducted.
Form 26AS is an important tax document that every taxpayer should review before filing their ITR. With the introduction of AIS, taxpayers now have more comprehensive insights into their financial transactions. Ensuring accuracy between Form 26AS, Form 16, and AIS helps avoid errors, notices, and delays in tax refunds.