Details of Annual Information Report (AIR) and high-value transactions.Details of tax deducted at source and of the deductors.Form 26 AS contains the following sections In the guide below, we outline everything you possibly need to know about Form 26AS, including its parts, where you can find it and how you can download it. Any mismatches between details filed in Form26AS and your income tax returns could call for an inquiry. There must be no difference in the TDS amount being claimed in your tax return and the TDS amount updated in Form 26AS. You must make sure, the claims in Form 26AS match with all the taxes you have paid. Form 26AS is also proof of the TDS deducted by your buyer, bank or employer since it also contains details of the deductors. It is important to have Form 26AS handy while filing your tax returns and not just because it makes claiming tax credit easier. The form includes taxes deducted at source, taxes collected at source, details about deductions on high-value transactions, advance taxes and tax deducted for sale of property among other deductions.įorm 26AS is your single source for information on all the tax deductions made on your income. You can download the statement from the Income Tax website (or TRACES website – a detailed step-by-step guide is included later in this article). Form 26AS - Everything You Needed To Know What is Form 26AS?įorm 26AS is a consolidated statement of the taxes you have already paid in the financial year and refunds due to you.
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