What is Form 26AS?
Form 26AS (likewise called the yearly proclamation) gives you the accompanying subtleties for the related PAN card:
Salary Credited and the comparing TDS
Interest Credited and comparing TDS by banks and organizations
Advance duty or self-evaluation charge paid
TDS deducted if there should be an occurrence of selling/purchasing of the property of in excess of 50 lakhs esteem
Any high esteem exchange is done in the year like purchasing property, shares, common assets, and so on
Income charge discount paid, assuming any
Download Automated Income Tax House Rent Exemption Calculator U/s 10(13A)
How to see 26AS?
There are two different ways to see your 26AS
1. You can do it legitimately from Income charge Website – incometaxindiaefiling.gov.in
2. You can do it through your net banking of approved banks (with PAN card effectively connected to the record)
How to see data in Form 26AS?
When the Form is opened, you have a choice to choose the Assessment year and the organization "View as". Select the significant Assessment year and the organization and snap see.
Select 'HTML" to see it on the web and "PDF" to download it.
The secret key for opening downloaded Form 26AS is the date of birth of PAN holder in ddmmyyyy position as referenced in PAN Card. So in the event that your date of birth is January 1, 1980, then your secret word would be 01011980.
Likewise recollect the contrast among Financial and Assessment year (for Financial Year 2016-17 the appraisal year is 2017-18, etc).
Translating From 26AS:
The 26AS is isolated into 7 expansive segments (A to G). Following are the subtleties for each segment.
Section A – Details of Tax Deducted at Source.
This area is most normal and has subtleties of Tax deducted by your boss or TDS deducted by banks on enthusiasm on Fixed Deposits, and so on. TDS deducted by each source appears as a different table.
PART A1 – Details of Tax Deducted at Source for 15G/15H
This area demonstrates subtleties of the salary where a charge was not deducted as you had submitted structure 15G or 15H. The TDS will dependably indicate "0" since you have submitted Form 15G/H for not deducting TDS. It helps in following the intrigue you got.
PART A2 – Details of Tax Deducted at Source on Sale
PART B – Details of Tax Collected at Source
This is a charge that is gathered by vender from a purchaser at a bargain of specific products like alcohol, timber, minerals, and so on. This would be mostly populated for individuals engaged with such exchanges.
Free Download Automated All in One Value of Perquisite U/s 17(2)
PART C – Details of Tax Paid (other than TDS or TCS)
This part demonstrates any "Advance Tax or Self Assessment Tax" paid amid the monetary year. The banks for the most part transfer this data subsequent to a clearing of the check.
Part D – Details of Paid Refund
This part demonstrates any discount paid to you by Income charge division in that money-related year
Part E: Details of AIR Transaction
It demonstrates the subtleties of any high esteem exchanges, for example, buy of property and so on. These high esteem exchanges are accounted for to pay charge office by banks/Registrar/shared Funds/organizations and so on through Annual Information Return (AIR)
PART F – Details of Tax Deducted at Source on Sale
PART G – TDS Defaults (Processing of Statements)
What ought to be checked from 26AS?
As should be obvious it's a long structure yet is outwardly straightforward. The inquiry is what ought to be checked in this structure? The appropriate response is EVERYTHING. Truly you ought to check every one of the numbers and pertinent subtleties presents there.
Check the name, TAN of the deductor from FORM 16 (compensation)/16A (banks)
Check the area for every section 192 is for pay and 194A is for intrigue salary
Check the status of booking. It ought to be 'F' which implies Final. This implies the TDS sum saved to salary charge specialists coordinate with the TDS explanation documented by the deductor. On the off chance that its "U" which means Unmatched, it implies there is some issue either with the TDS explanation or the sum saved. You should check with the concerned deductor for this situation.
Consider the possibility that passages don't coordinate.
As expressed above in the event that somebody has deducted TDS however has not submitted or refreshed it wrongly to the pay charge experts, you may see wrong or missing sections. All things considered, you should contact that individual/organization.
In case your development duty or self-appraisal charge paid does not coordinate, check with your bank.
In case your Form 16 subtleties don't coordinate counsel your manager.
In case you discover a few passages missing counsel with the applicable elements.
Free Download Automated Income Tax Form 16 Part B for the Financial Year 2018-19 and Assessment Year 2019-20 [This Excel Utility can prepare at a time 50 Employees Form 16 Part B ]
Why you should check 26AS before recording ITR?
Structure 26AS can be contrasted with your resume while applying for any activity. The questioner knows everything referenced in your resume – comparatively, salary charge specialists think pretty much all the data present in 26AS. Furthermore, as you would not wreck in the meeting by not setting up what's on your resume, correspondingly you can mess your pay government forms by not confirming the sections in 26AS.
What's more, the most exceedingly bad part on the off chance that you have inconsistencies during the 26AS and your salary assessment form, you may get see from pay charge for wrong returns or for investigation of archives.
Have you checked your Form 26AS while documenting your ITR?
