An Important Tax matter for the senior citizen

The following is given as a free service to create awareness about tax matters for senior citizens.

                      Form 26AS 

       What is Form 26 AS , and why is it important?

This is an official document,which is available to every tax-payer, but which surprisingly few taxpayers bother to download and view. But a little care in time can save nine, as they say. It's importance lies in the fact that it gives you a bird's eye view of your tax matters, Amne Samne, to put it in layman's terms.  

     How to view your Form 26AS

• Form 26AS can be downloaded from TRACES (see below for step-by-step guide on how to download Form 26AS)
• This income tax Form 26AS is linked with your PAN
• The password for opening Form 26AS is your Date of Birth (in DDMMYYYY format)
• You can view Form 26AS from FY 2008-09 onwards

    What is in Form 26AS?

        Form 26AS contains:

• Details of tax deducted on your income by income tax deductors
• Details of tax collected by income tax collectors
• Advance tax paid by the taxpayer
• Self-assessment tax payments
• Regular assessment tax deposited by the taxpayers (PAN holders)
• Details of refund received by you during the financial year
• Details of the High-value Transactions in respect of shares, mutual fund etc.

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Step-by-Step Guide on How to Download Form 26AS from TRACES

Form 26AS can be downloaded:

• On the TRACES website
• Or via Net Banking Facility of authorised banks

How to Download & View Form 26AS through the TRACES Website

Step 1

Go to https://incometaxindiaefiling.gov.in and Login using your income tax department login & password. If you don’t have an account, you’ll need to Register first (see the button on top of LOGIN).

Step 2

Enter your PAN number, password and date of birth / date of incorporation in DD/MM/YYYY format. And enter the captcha code. Now click on LOGIN.

Step 3

A new screen will appear. Go to ‘My Account’. Click on  ‘View Form 26AS’ in the drop down menu.

Step 4

Click on ‘Confirm’ .You are redirected to the TRACES web site.

Step 5

You are on the TRACES (TDS-CPC) website. Select the relevant box on the screen and click on ‘Proceed’.

Step 6

Click on the link at the bottom of the page – ‘Click View Tax Credit (Form 26AS) to view your Form 26AS’.

Step 7

Choose the Assessment Year and the format in which you want to see the Form 26-AS. If you want to see it online only, leave the format as HTML. If you would like to download it in PDF , choose PDF. After you have made your choice, enter the ‘Verification Code’ and click on ‘View/Download’.

Step 8

In order to open the document you have to enter a password. Form 26AS password is your DOB in DDMMYYY format. Now after you have done that step,your Income Tax Form 26AS will open !

View Form 26AS via Net Banking of your Bank Account

The facility is available to every PAN holder having a net banking account with any of the authorized banks. You can View Tax Credit Statement (Form 26AS) only if your PAN number is mapped to that particular account. This facility is available for free.

List of banks registered with NSDL for providing view of Tax Credit Statement (Form 26AS) are as below:

• Axis Bank Limited

• Bank of India
• Bank of Maharashtra
• Bank of Baroda

• Citibank N.A.
• Corporation Bank
• City Union Bank Limited

• ICICI Bank Limited
• IDBI Bank Limited
• Indian Overseas Bank
• Indian Bank

• Kotak Mahindra Bank Limited
• Karnataka Bank

• Oriental Bank of Commerce

• State Bank of India
• State Bank of Mysore
• State Bank of Travancore
• State Bank of Patiala

• The Federal Bank Limited
• The Saraswat Co-operative Bank Limited

• UCO Bank
• Union Bank of India

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Parts of Form 26AS

 Form 26AS contains the following parts:

• Part A: Details of Tax Deducted at Source
• Part A1: Details of Tax Deducted at Source for Form 15G/Form 15H
• Part A2: Details of Tax Deducted at Source on sale of Immovable Property u/s194(IA) (For seller of Property)
• Part B: Details of Tax Collected at Source
• Part C: Details of Tax Paid (Other than TDS or TCS)
• Part D: Details of Paid Refund
• Part E: Details of AIR Transaction
• Part F: Details of Tax Deducted on sale of immovable property u/s194IA (For Buyer of property)
• Part G: TDS Defaults.