The financial year 2022-23 has been completed and in the assessment year 2023-24, the exercise of filing Income Tax Return (ITR ) has started. The Income Tax Department issues a Form 26AS regarding ITR, which is a consolidated tax credit statement.
It contains complete details of all those taxes, which have been deposited with the government on behalf of the taxpayer’s company, bank or any other body. Now in such a situation the question arises that why it is needed and who needs it? Also where can it be obtained? Answers to all these questions are being given here one by one.
Why is Form 26AS required?
This form contains complete details of Tax Deducted at Source (TDS), Tax Collected at Source (TCS), Advance Tax, Self Assessment Tax and Regular Assessment Tax. It also contains information about how much refund can be received during the financial year. Taxpayers need it while filing ITR as it helps in calculating the total tax liability and also to verify the amount of tax deposited.
Who needs this form
Taxpayers who have PAN and have received income from salary or pension, interest on FD or savings account, rent, capital gains, dividends or any other source on which TDS has been deducted during the financial year, can file this form is needed.
where to get this form
You can download this form by visiting the website of the Income Tax Department. Its stepwise process is given below-
Login to the e-filing portal https://www.incometax.gov.in/iec/foportal/
Go to Income Tax Returns of e-File tab and click on ‘View Form 26AS (Tax Credit)’ link.
Here read the disclaimer and click on confirm.
A will open on the TDS-CPS portal. After agreeing on this portal, click on ‘Proceed’.
Click on View Tax Credit (Form 26AS/Annual Tax Statement).
Select the Assessment Year and View Type i.e. HTML or Text and then click on ‘View / Download’.
To download it, select HTML in View As and click on ‘Export as PDF’
