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2018

Parts of the Form 26AS

Parts of the Form 26AS

Before you file your income tax return, you must make sure data related to TDS and TCS as reflected as per Income Tax Department is correct and accurate. You can do this by referring to Form 26AS. Form 26AS is a consolidated tax statement issued under Rule 31AB of the Income Tax Rules to PAN holders. It can be viewed or downloaded from Income Tax Efiling portal. For step by step guide on downloading 26AS, refer to Munimji's notification on "How to Download 26AS" published on 20th July 2018 on Munimji Mobile App.

Contents of 26AS:

26AS contains following details:

  1. Tax deducted at source (TDS)
  2. Tax collected at source (TCS)
  3. Details of Tax Paid (Other than TDS or TCS):Advance tax, self-assessment tax, regular assessment tax etc deposited in a bank by taxpayers (PAN holders)
  4. Details of Refund
  5. Details of AIR Transaction
  6. Details of Tax Deducted on sale of immovable property u/s194IA (For Buyer of property)
  7. TDS Defaults* (processing of defaults)

 

Parts of Form 26AS:

Part A: Tax Deducted at Source:

This part will display details of Tax Deducted at Source by each tax deductor. This part contains following details:

  1. Name of Deductor
  2. TAN of Deductor
  3. Section under which tax is deducted
  4. Date of payment
  5. amount paid or credited
  6. Amount of Tax Deducted from payment
  7. Amount of TDS deposited in the bank

 

Part A1: Details of Tax Deducted at Source for Form 15G/ Form 15H:

This part contains details of income on which no TDS has been deducted as the taxpayer has submitted Form 15G or 15H. If you have not submitted Form 15G or Form 15H, this section will display ‘No transactions present’

Part A2: Details of Tax Deducted at Source on Sale of Immovable Property u/s194(IA) (For seller):

This part contains details of TDS deducted on immovable properties sold by tax payer during previous year.
if you have sold property during the year and TDS was deducted from your receipts this part will reflect the same.

Part B: Details of Tax Collected at Source:

It contains details of tax collected at source (TCS) by a seller of specified goods at the time these goods have been purchased by tax payer. This part will display all relevant details related to the seller like Name of collector, TAN of collector amount of tax collected etc.

Part C: Details of Tax Paid (Other than TDS or TCS):

This part displays details of income tax directly paid by you (such as advance tax and self-assessment tax), and details of the challan through which you have deposited this tax in the bank.

Part D: Details of Paid Refund:

This part contains all information regarding any refund paid to you. It includes following details:

  1. Assessment year to which the refund pertains
  2. Mode of payment
  3. Amount paid
  4. Interest paid
  5. Date of payment

 

Part E: Details of AIR Transaction:

AIR stands for "Annual Information Return". It is mandatory for Banks and other financial institutions to report any high-value transactions carried out by tax payers to the income tax department. This may include purchases of mutual funds of high value, property purchase, high value corporate bond purchases etc. Such transactions are reported in Annual Information Return and the same is reflected in Part E of Form 26AS.

Part F: Details of Tax Deducted on Sale of Immovable Property u/s 194IA (For Buyer):

This part will show details of any TDS deducted by you while buying a property. Also, it displays TDS deposited by you to the bank.

Part G: TDS Defaults*(Processing of Defaults):

Defaults relating to the processing of statements are mentioned here. They do not include demands raised by assessing officer.

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