Form 26AS is issued to the PAN holders of the income tax department under Rule 31AB. This statement includes details of.

-TDS

-TCS

-Advance Tax or any other tax deposited in bank by taxpayer.

It is also called ANNUAL TAX STATEMENT.

What are in the Form 26AS?

The Form 26AS is divided into 3 parts such as A, B and C. In part A the information regarding TDS (Tax deduction at source) should be entered like details of deducts or along with name & TAN no. with the payment paid should be entered.

In part B the information regarding TCS (Tax collected at source) should be entered like the goods name and details, time when the goods is sold to you.

Part C is for the payment as what is the payment made by you.

Non government firms need to deposit the tax amount in government bank which is deducted or collected. The deductor requires filing a quarterly statement of TDS/TCS along with TIN. For Government concern the tax is transferred through the book entry and needn’t to deposit in banks.

Banks upload challan details to TIN on a T+3 basis after the realization of the tax payment cheques.On the day after the bank uploads the details of self assessment/advance tax to TIN it will post these details into your Form 26AS

How Form 26AS useful to me?

1-       It will show the tax deducted, tax collected as well as tax deposited in the banks.

2-      It also shows the deductor has correctly deposited the tax or not.

3-      Bank has correctly posted your tax or not.

4-      It is a safe document to view/to show anybody about your tax paid.

One thing to remember for Form 26AS as the PAN number should be provided and correctly provided as without the PAN number there TDS/TCS can’t be posted in Form26AS.

There is no need to provide the name, address etc. in the Form 26AS as the department takes it from your PAN number. So it’s necessary to provide correct PAN number.

If some problem arise regarding to Form 26AS

PAN holder can contact TIN Call Centre National Securities Depository Limited 3rd Floor Sapphire Chambers Near Banner Telephone Exchange Baner Pune 411 045. Tel: 020 2721 8080. Fax: 020 2721 8081. Email: tininfo@nsdl.co.in