TRACES (TDS Reconciliation Analysis and Correction Enabling System)
Question and Answer Of Form 26AS
Question and Answer Of Form 26AS
Question (1) : What is Form 26AS?
Answer : It is a form issued under Rule 31AB, wherein the following information in relation to a PAN is published:
• TDS - Part A & A1 of Form 26AS
• TCS - Part B of Form 26AS
• Details of tax paid other than TDS / TCS - Part C of Form 26AS
• Details of Refund - Part D of Form 26AS
• Details of AIR transactions - Part E of Form 26AS
Question (2) : Can we verify TDS certificate (Form 16A) issued by the deductor from Form 26AS?
Answer : Yes.
Question (3) : From which Assessment Year (AY) can I view my Form 26AS on TRACES?
Answer : You can view your Form 26AS in TRACES from AY 2009-10 onwards.
Question (4) : How is Form 26AS important to a deductor and tax payer?
Answer The TDS / TCS deducted by a deductor is reflected in Form 26AS of the respective PAN and this helps in identifying any discrepancy / error. Although deductor cannot view Form 26AS for a PAN, they can view the TDS / TCS deducted / collected by them.
The credits available in the tax statement confirm that:
• The tax deducted / collected by the Deductor / Collector has been deposited to the account of the government
• The Deductor / Collector has accurately filed the TDS / TCS return giving details of the tax deducted/collected on your behalf
• Bank has properly furnished the details of the tax deposited by you
• In future, you will be able to use this consolidated tax statement (Form 26AS) as a proof of tax deducted / collected on your behalf and the tax directly paid by you along with your income tax return, after the need for submission of TDS / TCS certificates and tax payment challans along with income tax returns has been dispensed with by the Income Tax Department (ITD)
Question (5) : How can a Tax Payer view Form 26AS?
Answer : Tax Payer must register and login to TRACES to view Form 26AS for a Financial Year.
Question (6) : What is the period for which Form 26AS is generated?
Answer : Form 26AS is generated annually, for a Financial Year.
Question (7) : When is Form 26AS generated?
Answer : Form 26AS will be generated whenever a transaction related to point # 2 in this FAQ happens in relation to the tax payer. It will be updated further with all the transactions reported / processed for the given FY.
Question (8) : Who can view Form 26AS?
Answer : Only a registered PAN holder can view their Form 26AS on TRACES. Form 26AS can be viewed from FY 2008-09 onwards.
Question (9) : Can negative entries appear in Form 26AS?
Answer : If there is any error in TDS / TCS return or in the challan detail uploaded by bank, for rectifying this, original credit entry will be reversed by debit entry in Form 26AS and a new credit entry will be posted (if required). Remarks column will be updated with the appropriate reason.
Question (10) : How can I correct if the name and address details given in Form 26AS are incorrect?
Answer : You can get the Data corrected by applying in TIN for changes or correction in PAN Data. This request can be made either online or through the existing network of TIN-FCs.
Question (11) :Can I download my Form 26AS statement?
Answer : Yes. Form 26AS statement can be downloaded either as PDF / text / excel file. If number of records in Part A / Part B is less than 20,000, Form 26AS can be downloaded as PDF / excel file or viewed as HTML on the screen.
For records greater than 20,000, Form 26AS cannot be viewed as HTML and it also cannot be downloaded as PDF / excel file. You have to download Form 26AS as a text file.
Question (12) : I have paid Securities Transactions Tax and Banking Cash Transaction Tax, but it is not reflecting in my Form 26AS. What should be done?
Answer : Form 26AS does not display the following taxes in Part C:
• Securities Transaction Tax
• Banking Cash Transaction Tax
Question (13) : What should Tax Payer do in case details of tax deducted are not appearing in Form 26AS?
Answer : Details of tax deducted will appear only after submission of TDS statement by the corresponding deductor. In this case, deductor should be approached to ensure filing of TDS statement with correct PAN.
Question (14) : Tax deducted by an employer is not reflecting in Form 26AS. What could be the reason for this?
Answer : Details of tax deducted will appear only after submission of TDS statement by the corresponding employer. In this case, employer should be approached to ensure filing of TDS statement with correct PAN.
Question (15) : What if entries in Form 26AS that do not pertain to the deductee?
Answer : The respective deductor should be approached for filling correction statement. In case of advance tax / regular tax / self-assessment tax, the jurisdictional AO may be approached for necessary correction.
Question (16) : What should I do in case there are entries in my Form 26AS that do not pertain to me?
Answer : If this is on account of 'TDS / TCS' credit, you may intimate your deductor / collector. If this is on account of advance tax / self-assessment tax, you may intimate your assessing officer. Question (17) : What is the source of information like my name and address mentioned on Form 26AS?
Answer : The address reflecting in Annual Tax Statement (Form 26AS) is picked up from Income Tax Department's PAN database with the details of latest PAN card issued to you.
Question (18) : What is the password for opening Form 26AS?
Answer : The password for opening Form 26AS will be your Date of Birth (in DDMMYYYY format), e.g., if your date of birth is 01-Feb-1980, password will be 01021980.
Question (19) : I have received a demand notice for my Income Tax Return, whom should I contact in this regard?
Answer : For demand related to your income tax return (ITR), kindly contact ITRCPC-Bangalore or your Jurisdictional AO.
Question (20) : How is Form 26AS important to a deductor and tax payer?
Answer : The TDS / TCS deducted by a deductor is reflected in Form 26AS of the respective PAN and this helps in identifying any discrepancy / error. Although deductor cannot view Form 26AS for a PAN, they can view the TDS / TCS deducted / collected by them. The credits available in the tax statement confirm that:
• The tax deducted / collected by the Deductor / Collector has been deposited to the account of the government
• The Deductor / Collector has accurately filed the TDS / TCS return giving details of the tax deducted/collected on your behalf
• Bank has properly furnished the details of the tax deposited by you
• This consolidated tax statement (Form 26AS) is a proof of tax deducted / collected on your behalf and the tax directly paid by you
Best Regards,
