Every income tax payer should take utmost care while filing his income tax return (ITR Filing). Before filing ITR, it is not only necessary to collect all the necessary documents, but it is also necessary to check them thoroughly. Because wrong information recorded in any document can get your ITR cancelled or delay the refund.

Form 26AS is also one of those important documents, which is necessary to check before filing Income Tax Return (ITR). Form 26AS should be matched with Form 16/16A before filing the return. Make sure whether the money deducted as TDS is included in Form 26AS or not.

Also Read: Income Tax Return filing: Salaried individuals need to be aware of these 5 key points

Form 26AS gives information whether the TDS deducted by the company has been deposited to the government or not. It contains details of tax deducted from different sources of income of the taxpayer. These include details like tax deduction at source (TDS), tax collection at source (TCS), payment of advance tax or self-assessment tax, regular tax, refund. On the other hand, Form 16 contains complete information about the tax deducted from salary. Form 16A contains information about TDS deducted on income other than salary.

Therefore, matching is necessary.

Many times it happens that the information given in Form 16 does not match with the information given in Form 26AS. This happens due to the wrong information recorded in Form 26AS. In such a situation, if you file ITR with wrong information without matching both, then while it can cause financial loss to you, there is also a risk of your ITR being cancelled. If the information is wrong, then it is very important to correct it.

If your company or bank has made a mistake in depositing the tax with the government with your PAN number then you have to approach your company or bank to deduct the tax. You have to ask the company or bank to revise the TDS return. Once you file your TDS return with the correct details, your Form 26AS will show the correct information.

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It contains complete details of all those taxes, which have been deposited with the government on behalf of the taxpayer’s company, bank or any other body. Now in such a situation the question arises that why it is needed and who needs it? Also where can it be obtained? Answers to all these questions are being given here one by one.

Why is Form 26AS required?

This form contains complete details of Tax Deducted at Source (TDS), Tax Collected at Source (TCS), Advance Tax, Self Assessment Tax and Regular Assessment Tax. It also contains information about how much refund can be received during the financial year. Taxpayers need it while filing ITR as it helps in calculating the total tax liability and also to verify the amount of tax deposited.

Who needs this form

Taxpayers who have PAN and have received income from salary or pension, interest on FD or savings account, rent, capital gains, dividends or any other source on which TDS has been deducted during the financial year, can file this form is needed.

where to get this form

You can download this form by visiting the website of the Income Tax Department. Its stepwise process is given below-

Login to the e-filing portal https://www.incometax.gov.in/iec/foportal/

Go to Income Tax Returns of e-File tab and click on ‘View Form 26AS (Tax Credit)’ link.

Here read the disclaimer and click on confirm.

A will open on the TDS-CPS portal. After agreeing on this portal, click on ‘Proceed’.

Click on View Tax Credit (Form 26AS/Annual Tax Statement).

Select the Assessment Year and View Type i.e. HTML or Text and then click on ‘View / Download’.

To download it, select HTML in View As and click on ‘Export as PDF’

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