How to Download Form 26AS from TRACES Online

Here are the Steps to Download Form 26AS::

• Step 1: Open your browser and go to the Income Tax e-Filing portal, then log in using your PAN as the User ID, your password, and the captcha code displayed on the screen to access your account.

• Step 2: Once logged in, navigate to the menu at the top, select ‘e-File’, then ‘Income Tax Returns’, and click on ‘View Form 26AS (Tax Credit)’ to proceed to the next stage.

• Step 3: A disclaimer page will appear explaining the usage of Form 26AS, read it carefully and then click ‘Confirm’ to proceed, which will redirect you automatically to the TDS-CPC portal where the tax credit statement is hosted.

• Step 4: On the TDS-CPC portal, you will see a message about the acceptance of terms of use, tick the checkbox or option to agree, and then click ‘Proceed’ to move forward to view your tax credit statement.

• Step 5: Click on ‘View Tax Credit (Form 26AS)’, then select the Assessment Year you want to check and choose your preferred view type either HTML for an interactive view or Text for a plain downloadable format.

• Step 6: After selecting the year and view type, click ‘View / Download’ to display your Form 26AS on the screen, and if you wish to save it as a PDF, ensure you have selected HTML view and then click ‘Export as PDF’, which will download a PDF copy of your statement for your records.

Different Parts of Form 26AS

Form 26AS is a consolidated tax credit statement linked to a taxpayer’s PAN. It provides a summary of taxes deducted, collected, and paid during a financial year. The statement helps taxpayers verify tax credits before filing their income tax returns.

The following information is available in Form 26AS:

1. Tax Deducted at Source (TDS)

This section shows the details of tax deducted from your income by deductors such as employers, banks, or other institutions. It includes the deductor’s TAN, the amount paid, and the tax deposited with the government.

2. Tax Collected at Source (TCS)

It contains details of tax collected by sellers on specific transactions under applicable provisions of the Income Tax Act.

3. Advance Tax and Self-Assessment Tax

Form 26AS displays information about taxes paid directly by the taxpayer, including advance tax and self-assessment tax.

4. Regular Assessment Tax

This section shows tax payments made after assessment or demand raised by the Income Tax Department.

5. Income Tax Refund Details

If a taxpayer has received a refund from the Income Tax Department, the refund amount and related details are reflected in Form 26AS.

6. Specified Financial Transactions (SFT)

The statement may include details of certain high-value financial transactions reported by banks, mutual funds, or other financial institutions.

7. TDS on Sale of Immovable Property

Form 26AS contains information on tax deducted when immovable property is sold under applicable tax provisions.

8. TDS Defaults

This section highlights defaults detected during the processing of TDS statements filed by deductors.

9. Demand and Refund Status

It may also show details related to outstanding tax demands or refunds processed by the Income Tax Department.

How to View Form 26AS from Net Banking Facility?

A PAN holder who has a net banking account with any authorised bank is eligible to access Form 26AS. Only if your PAN number is connected to that particular account may you read your Form 26AS. This service is provided for free. 

The banks that have registered with NSDL to enable users to view Form 26AS include the following:

Why is Form 26AS Important?

Even after the introduction of the comprehensive Annual Information Statement (AIS), Form 26AS continues to be an essential document for taxpayers, as it provides an official record of taxes deducted or collected and deposited against your PAN.

Benefits of Form 26AS

• Verification of Tax Credits: Form 26AS allows you to ensure that TDS deducted by your employer, bank, or other deductors, and TCS collected by sellers, is correctly deposited with the government. This verification helps avoid mismatches when filing your ITR.

• Proof of Tax Payment: The form serves as official proof that taxes have been paid to the government. Any tax credit reflected in Form 26AS can be confidently claimed in your Income Tax Return.

• Accurate ITR Filing: By comparing the figures in Form 26AS with your own records, such as payslips or Form 16, you can claim the correct tax credits and avoid discrepancies that could trigger notices or require corrections later.

• Error Detection: Form 26AS helps identify errors, such as a deductor failing to deposit the tax or reporting incorrect amounts. Detecting such issues early allows you to contact the deductor and get them corrected proactively.

• Streamlined Tax Administration: By consolidating all tax credits in one place, Form 26AS simplifies the process of calculating your final tax liability, reducing the effort and errors in filing your ITR.

Importance of Form 26AS

• Verification Tool: It is a key reference to ensure all taxes deducted or collected against your PAN are correctly accounted for before filing your ITR.

• Complements AIS: While Form 26AS focuses on tax credits, the AIS provides a broader overview of all financial transactions, including interest income, dividends, share or property transactions, advance tax payments, and refunds. Together, they give a complete picture.

• Ensures Accuracy and Transparency: Using Form 26AS along with AIS ensures that your ITR reflects all income and taxes correctly, minimising the risk of errors, notices, or disputes with the tax department.

• Facilitates Pre-Filling of ITRs: The verified data in Form 26AS supports pre-filling of ITRs, saving time and making tax filing more efficient.

Difference between Form 26AS and AIS

The table below compares form 26AS and AIS:

Comparing Your TDS Certificate (Form 16/16A) with Form 26AS

It is important to cross-check the details on the TDS certificates you receive such as Form 16 from your employer or Form 16A from a bank against the information in your official Form 26AS. This verification ensures that you can claim the full tax credit you are entitled to without discrepancies.

What to Verify

• Correct Personal Details: Ensure that your Name, PAN (Permanent Account Number), and the Deductor's TAN (Tax Deduction Account Number) are identical on both the TDS certificate and Form 26AS.

• Matching TDS Amount: Compare the total tax deducted as per your TDS certificate with the total tax credit reflected in Form 26AS for the corresponding deductor.

What to do if there is a Mismatch

• Action Required: Immediately contact the deductor, such as your employer’s HR/finance department or your bank.

• Reason: A mismatch indicates that the deductor may have failed to deposit the tax with the government or has made an error while filing their TDS return.

• Resolution: Request the deductor to correct the error and file a revised TDS return. Once corrected, accurate information will appear in your Form 26AS within a few days, allowing you to claim the correct tax credit in your ITR.

How AIS Complements Form 26AS for Taxpayers

The Income Tax Department has come up with Annual Information Statement, also known as AIS with an aim to incorporate new information such as off market transactions, foreign remittances, mutual fund purchases, interest received on income tax refunds, break up details of salary and ITR information of another person.

The income tax department was already availing these details from the authorized bodies.

For example, banks submit Form 15CC for payment done to NRIs, transfer agents, and depositors report off market. Furthermore, salary break up details are present in Form 16 from the information uploaded by employers on the TRACES portal.

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