It's time to file your returns, and it may happen that inspite of paying tax properly you may receive a tax demand notice. This may happen if you may have forgotten something, like a interest on fixed deposit, the TDS of which has been deducted by the bank. Since the bank has cut TDS, it would show up in your tax deductions online. This may result in the IT authorities seeking an explanation.
With the help of form 26AS you can keep track of your TDS and other things. 26AS is the form which shows consolidated tax statement, it includes details of
- Details of tax deducted on behalf of the taxpayer by deductors
- Details of tax collected on behalf of the taxpayer by collectors
- Advance tax/self assessment tax/regular assessment tax, etc. deposited by the taxpayers (PAN holders)
- Details of paid refund received during the financial year
- Details of the high value transactions in respect of shares, mutual fund etc.
The Income Tax Department has made this easy for the assessee to view their tax credit online without any hassles. One can view it online with the help of PAN by getting it registered on the income tax website.
How to register yourself?
1. Visit https://incometaxindiaefiling.gov.in/portal/index.do
2. Click on Register
3. Fill your PAN number in given box and click
4. Fill in the details and click submit
5. Go to "My Account" in home-page
6. Select the sub-section "view tax credit statement(FormAS26)"
7. Fill in the details and click submit
8. You will be redirected to NSDL site once you confirm
9. Click on bottom which says "View Form 26AS "
However, NSDL also provides this service by charging fees of Rs 17 or Rs 117, this comes with complicated procedure.
Form 26AS through netbanking
Yes, this facility is available to a PAN holder having net banking account with any of authorized banks. View of Tax Credit Statement (Form 26AS) is available only if the PAN is mapped to that particular account. The facility is available for free of cost.
Axis Bank, HDFC Bank, ICICI Bank, SBI Bank, Syndicate Bank, Canara Bank, Vijaya Bank, Karnataka Bank to name a few.