Regular assessment tax deposited by the taxpayers (PAN holders) How to view and download from TRACES Portal? Details of all High-value Transactions with respect to shares, mutual fund etc. Information regarding tax collected by collectorsĦ. Refund received by the taxpayer during the Assessment Yearĥ. Information regarding tax deducted by the taxpayer’s deductorĤ. The website is primarily used for downloading tax documents like Form 16, Form 16A, Form 26AS, which are essential for the deductor and taxpayer. TDS Reconciliation Analysis and Correction Enabling System or TRACES is an online portal of the Income Tax Department of India which helps bring all the stakeholders involved in the Tax Deducted at Source and Tax Collected at Source process together. How to download Form 26AS from TRACES Portal? It can be viewed and downloaded on the TRACES website or through the Net Banking Facility of Authorised Banks. Therefore it is very important that an assessee should view his Form 26AS before filing Income Tax Return(ITR) and make sure if the amount reflected in Form matches with the actual amount of TDS, TCS, or Advance Tax paid. The taxpayer will not be eligible to claim the amount of actual TDS. For instance, If the actual TDS deducted as reflected in the TDS Statement differs from the TDS reflected in Form 26 AS. along with their Tax Deduction Account Number (TAN).Ī taxpayer should note that while filing his Income Tax Return( ITR) the assessee can claim the credit of only that amount which is reflected in Form 26AS.
In addition to this, the form also contains details of all your deductors like an employer, bank, etc. It can be accessed by a taxpayer’s Permanent Account Number (PAN) and is one of the most important forms to verify the post-tax payment.
It is an annual consolidated tax statement that contains all the information related to the tax paid by an assessee, together with the income on which such tax has been deducted and the taxes which have been paid on behalf of the assessee by the deductor. To record, such tax credits of an assess the Department of Income Tax maintains Form 26AS. However, the government also allows the assessee to claim the credit of such taxes while filing his Income Tax Return(ITR). To collect tax from the assessee in the previous year itself the government collects it in the form of TDS, TCS, and advance tax. HOW TO DOWNLOAD FORM 26AS FROM TRACES PORTAL? What is Form 26AS?
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