Form 26AS — Annual Tax Credit Statement — Complete Guide for Taxpayers

Form 26AS is the consolidated annual tax statement generated by the Income Tax Department — showing all tax credits available in a taxpayer's account. It is the taxpayer's "tax passbook" with the Income Tax Department and is essential for accurate ITR filing. Here is the complete guide to Form 26AS.

What Form 26AS Contains

• Part A — TDS on salary and non-salary: All TDS deducted by employers, banks, tenants, buyers of property and other deductors — matched to your PAN. Shows deductor's name, TAN, amount paid, TDS deducted and deposited.
• Part B — TCS collected: TCS collected under Section 206C by sellers (motor dealers, liquor vendors, etc.)
• Part C — Advance tax and self-assessment tax: All direct tax payments you made (Challan 280 — advance tax and self-assessment tax)
• Part D — Income tax refunds: Refunds issued by the IT department — refund amount and date
• Part E — SFT (Statement of Financial Transactions): High-value transactions reported by banks, registrars, mutual funds — e.g., FD above ₹10 lakh, property purchase, credit card spend above ₹2 lakh
• Part F — TDS on sale of immovable property (26QB): TDS deducted by buyer of your property
• Part G — TDS defaults: Notices of TDS default (if any) against the taxpayer

Difference Between Form 26AS and AIS

• Form 26AS: Shows TDS/TCS credits and SFT — a subset of available information
• AIS (Annual Information Statement): More comprehensive — includes all income sources (salary, dividends, interest, securities transactions, GST turnover) reported by various entities
• Both should be reviewed before filing ITR

How to Download Form 26AS

• Login to incometax.gov.in → e-File → Income Tax Returns → View Form 26AS
• Redirected to the TRACES portal — select the assessment year and download as PDF or text
• PDF password: Date of birth in DDMMYYYY format
• Also accessible through net banking of major banks (SBI, HDFC, ICICI, Axis etc.)

Why Reconcile Form 26AS Before Filing ITR?

• If TDS is deducted but not deposited by the deductor — it won't appear in your 26AS — you cannot claim it as a credit
• Any mismatch between 26AS and ITR triggers a notice from the IT department
• If deductor has wrongly entered your PAN — the credit won't appear. Contact the deductor to correct TDS return.

Conclusion

Form 26AS is the foundation of accurate ITR filing — reconciling it with income records prevents notices and ensures all TDS credits are claimed. SPOTON includes 26AS and AIS reconciliation in every ITR filing engagement for clients across Kerala. Contact us for expert income tax return services.