As the last date to file income tax return (ITR) looms closer, tax payers are busy arranging the documents in time to avoid breaching the July 31 deadline.
The key documents that are needed to file an income tax return (ITR) include bank statements, form 16 from the employer, receipts of insurance payments and other investments that are eligible for tax exemptions, so on and so forth.
Besides these, tax payers also need form 26AS for the same. Before we proceed, let us understand what exactly this form is meant for.
What is form 26AS?
The form 26AS is an annual statement that shares key information about tax collected and deposited with the tax department by the authorised deductors/ collectors.
The form is available on e-filing portal: login > e-file > Income tax return >View form 26AS. The form shares the information relating to tax deducted/ collected at source.
It is vital to note that the information relating to advance tax/ SAT, details of refund, SFT transaction, TDS under section 194 IA, 194 IB, 194M, TDS defaults that were available in 26AS will now be available in the annual information statement.
The form aids in the calculation of income and to claim the tax credits while filing an income tax return.
This is how you can access Form 26AS:
1 At the outset, log on to the e-filing portal.
2. Go to the ‘My Account’ menu, and click the view form 26AS (tax credit) link.
3. At this stage, you need to click the disclaimer before you are redirected to TDS-CPC portal.
4. At this portal, the user needs to agree to the acceptance of usage. Then you need to click proceed.
5. Now you may clock view tax credit on form 26AS.
6. Now you can select the assessment year and view type i.e., HTML, text or PDF.
7. Now you can select view/ download.
You can also view this form via your Net banking so long as you have mapped your PAN number to your bank account.
The link is usually given under the category of 'tax credit statements' under the section of ‘Enquire’.