ITR Filing 2025 : The season of filing Income Tax Return (ITR) has started. Excel utility of ITR-1 and ITR-4 is available for download on the Income Tax website. So far more than 1,23,075 people have filed their ITR.
If you are also thinking of filing returns, then definitely check Form 26AS, an important document because it can save you from notice. If you want to file ITR without mistake and want to avoid tax notice, then definitely check Form 26AS.
What is Form 26AS?
Form 26AS is a consolidated tax statement issued by the Income Tax Department. It contains information about all tax deductions, advance tax, TCS (Tax Collected at Source), refunds and high-value transactions made on your PAN. By looking at it, you can know how much tax has been deposited on you and whether any tax has been missed.
Why is it important to see Form 26AS?
Every year thousands of people get tax notices due to mistakes in ITR. In most cases, this is due to mismatch of information with Form 26AS.
This protects you from under-reporting.
There is no delay in tax refund.
The risk of tax scrutiny is reduced.
Form 16 provides information on tax received from sources like interest on FD or income from shares.
If you do not want to receive a tax notice, then you must check Form 26AS. It determines whether the TDS/TCS deducted on you has been recorded correctly or not.
How to download Form 26AS?
Log on to www.incometax.gov.in.
Go to the Income Tax Returns section.
Click on View Form 26AS.
You will be redirected to TRACES portal.
Select Assessment Year and download in PDF/HTML.
mistakes to pay attention to
Do not ignore TDS on interest on FD.
Relying only on Form 16.
Non-disclosure of advance tax or self-assessment tax
Not matching with AIS (Annual Information Statement).
What to do if there is a mistake in Form 26AS?
Contact that organisation (like bank or employer) and ask them to rectify the TDS return.
File a complaint on the Income Tax Portal.
Before filing ITR, definitely check the updated Form 26AS and AIS
What is the difference between AIS and Form 26AS?
AIS is a new document that gives details of all your financial transactions, such as mutual funds, shares, credit card payments, property deals, etc. But Form 26AS is still necessary as it contains official information about tax credits.
What is Form 16 and when will it be available?
Form 16 is a certificate issued by your company, which contains information about your salary and the tax deducted on it (TDS). This is very important at the time of filing income tax returns. Form 16 for FY 2024-25 is required to be given to your employer by 15 June 2025.
