The display of Form 26AS TRACES has undergone several changes over the years to make it more user-friendly and informative. Overall, these changes in the display of Form 26AS on TRACES have made it easier for taxpayers to view and verify their tax details and take corrective action if necessary. It is important for taxpayers to regularly check their Form 26AS on TRACES to ensure that their tax records are accurate and up-to-date.
Form 26AS Traces
Form 26AS is a consolidated tax statement that contains all tax-related information for a taxpayer in a particular financial year. TRACES (TDS Reconciliation Analysis and Correction Enabling System) is a web-based platform provided by the Income Tax Department of India, which enables taxpayers to view and download their Form 26AS.
Here’s how you can access Form 26AS through TRACES:
- Go to the TRACES website (https://www.tdscpc.gov.in/app/login.xhtml) and log in using your PAN (Permanent Account Number) and password.
- Once you log in, click on the “View/Verify Tax Credit” option from the dashboard.
- Select the relevant assessment year for which you wish to view Form 26AS.
- You will be redirected to a new page, where you can choose the view mode (HTML or PDF) to view or download your Form 26AS.
- Form 26AS contains details such as TDS (Tax Deducted at Source), TCS (Tax Collected at Source), advance tax paid, self-assessment tax paid, and refunds.
- You can use Form 26AS to verify the TDS and other tax payments made by the deductor against your name, and ensure that they are correctly reflected in your tax return.
| Changes in Display of Form 26AS/Annual Tax Statement | |
|---|---|
| Assessment Year 2023-24 onwards | up to Assessment Year 2022-23 |
| PART-I-Details of Tax Deducted at Source | PART-A-Details of Tax Deducted at Source |
| PART-II-Details of Tax Deducted at Source for 15G / 15H | PART-A1-Details of Tax Deducted at Source for 15G / 15H |
| PART-III-Details of Transactions under proviso to section 194B/ First Proviso to sub-section (1) of section 194R/Proviso to sub-section (1) of section 194S# | |
| PART-IV-Details of Tax Deducted at Source u/s 194IA/194IB/194M/194S(For Seller/Landlord of Property/Payee of resident contractors and professionals/Payee of Virtual Digital Asset) | PART-A2-Details of Tax Deducted at Source on Sale of Immovable Property u/s 194IA/TSD on Rent of Property u/s 194IB/TDS on Payment to resident contractors and professionals u/s 194M (For Seller/Landlord of Property/Payee of resident contractors and professionals) |
| PART-V-Details of Tax Collected at Source | PART-B-Details of Tax Collected at Source |
| PART-C-Details of Tax Paid(other than TDS or TCS)* | |
| PART-VI-Details of Paid Refund(For which source is CPC TDS, For other details refer AIS at E-filing portal) | PART-D-Details of Paid Refund |
| PART E- Details of SFT Transaction* | |
| PART-VII-Details of Tax Deducted at Source u/s 194IA/194IB/194M/194S(For Buyer/Tenant of Property/Payer of resident contractors and professionals/Payee of Virtual Digital Asset) | PART-F-Details of Tax Deducted at Source on Sale of Immovable Property u/s 194IA/TSD on Rent of Property u/s 194IB/TDS on Payment to resident contractors and professionals u/s 194M (For Buyer/Tenant of Property/Payer of resident contractors and professionals/Payee of Virtual Digital Asset) |
| PART-VIII-TDS/TCS Defaults (Processing of Statements) | PART-G-TDS/TCS Defaults (Processing of Statements) |
| PART H-Details of Turnover as per GST-3B* | |
#Inserted from Assessment Year 2023-24 onwards
*Shifted to AIS (Annual Information Statement) from Assessment Year 2023-24 onwards
It’s important to check your Form 26AS regularly to ensure that all the details are correct and up-to-date. Any discrepancies or errors must be rectified at the earliest to avoid any issues in the future.
How to download 26AS from traces?
To download Form 26AS from TRACES (TDS Reconciliation Analysis and Correction Enabling System), you can follow the below steps:
- Visit the TRACES website (https://www.tdscpc.gov.in/app/login.xhtml) and log in using your PAN number and password.
- Click on the “View/Verify Tax Credit” tab.
- Select the assessment year for which you want to view Form 26AS.
- Click on “View Tax Credit (Form 26AS)”.
- A new page will open, where you need to select the “View As” option. You can choose to view Form 26AS as HTML, PDF, or Text.
- Select the format and click on “View/Download”.
- If you have selected the PDF format, you will be prompted to enter the password for opening the PDF file. The password will be your date of birth in DDMMYYYY format.
- After entering the password, the PDF file of Form 26AS will be downloaded to your device.
- Alternatively, you can also download Form 26AS from the income tax e-filing portal by logging in with your credentials and selecting the “View Form 26AS (Tax Credit)” option under the “My Account” tab. This will redirect you to the TRACES website, where you can download Form 26AS using the above steps.
26AS Reconciliation Guide.
Form 26AS is a document that contains details of tax deducted or collected on behalf of a taxpayer and also shows details of tax paid by the taxpayer. It is an important document for filing income tax returns and for claiming refunds.
Reconciliation of Form 26AS is the process of verifying whether the tax deducted or collected by a taxpayer matches the details present in Form 26AS. This is an important step to ensure that the tax liability of a taxpayer is accurate and that there are no discrepancies in the tax calculations.
To reconcile Form 26AS, a taxpayer can follow the following steps:
- Collect all the TDS/TCS certificates received from various deductors/collectors during the financial year.
- Check whether the details mentioned in the TDS/TCS certificates match with the details mentioned in Form 26AS. If there is any discrepancy, contact the deductor/collector to rectify the same.
- Check whether the tax payments made by the taxpayer match with the details mentioned in Form 26AS. If there is any discrepancy, contact the bank to rectify the same.
- Verify whether all the income earned during the financial year has been reported in the income tax return filed.
- Reconcile the TDS/TCS details with the income tax return filed to ensure that the tax liability has been calculated accurately.
By following these steps, a taxpayer can ensure that the Form 26AS is reconciled and accurate. It is important to reconcile Form 26AS before filing the income tax return as any discrepancies may lead to a delay in processing the return and may also result in penalty and interest payments.
Changes in form 26AS
Form 26AS is an annual consolidated tax statement that contains information related to a taxpayer’s income, taxes deducted, and taxes paid during a financial year. Any changes in Form 26AS usually occur when there is an update or correction made by the income tax department or the deductor.
Here are some of the common changes that can occur in Form 26AS:
- Changes in Display of Form 26AS/Annual Tax Statement.
- Other details would be available in the AIS.
- For data prior to AY 2023-24, there would be no change in display
- TDS (Tax Deducted at Source) Details: If any TDS was deducted by a deductor but not reflected in the Form 26AS, it could be due to a delay in filing the TDS return. However, once the TDS return is filed and processed by the department, the details will reflect in Form 26AS.
- Tax Payments: Any payments made towards self-assessment tax, advance tax, or regular tax liability will reflect in AIS (Annual Information Statement). In case of any discrepancy, such as non-credit of tax payments, taxpayers need to contact the bank and rectify the same.
- Corrections: If any incorrect data is submitted by the deductor or the taxpayer, the same can be rectified by filing a rectification request with the Income Tax Department.
- Refunds: If the taxpayer has filed for an income tax refund, the same will reflect in Form 26AS once processed by the Income Tax Department.
It’s important for taxpayers to regularly check their Form 26AS to ensure that all details are correct and up-to-date. Any discrepancies must be rectified at the earliest to avoid any future issues.
FAQ’s
When 26AS is updated?
When does Form 26AS get updated? Form 26AS gets updatedwhen the income tax department processes the TDS returns filed by the TDS deductors. Thus, the last date for filing TDS returns for the fourth quarter is 31st May. Further, seven days are taken to process the TDS return filed.
Can Form 26AS be revised?
Once you have spotted the mistakes, it is up to you to have them fixed appropriately. The first step is to bring the error or mismatch to the attention of your employer or deductor.Your deductor can fix the error by filing a TDS correction statement with the Income Tax Department.
Is AIS replacing 26AS?
Key difference. According to the Income tax website FAQs on AIS, “AIS is the extension of Form 26AS. Form 26AS displays details of property purchases, high-value investments, and TDS/TCS transactions carried out during the financial year.
What if there is difference in form 16 and 26AS?
If excess TDS has been deducted, then you may also be liable for a refund from the department. If there is any difference in the tax credit figures of Form 26AS and Form 16/16A, and you have not rectified it in time, thenthe taxman will consider the figure in Form 26AS for calculations.