WHAT IS 26AS?
Form 26AS, also known as Annual Statement Form. It is an important document, which contains all the tax-related information of the taxpayer like TDS (Tax Deducted at Source), Advance Tax, etc. After the launch of the new income tax website, taxpayers can download Form 26AS from the new portal.
Form 26AS is your annual tax statement. You can get it from the Income Tax Department website with the help of your PAN number. Form 26AS contains information about the tax paid by you to the government. This form will show the details of all the high-value transactions done by the taxpayers.
The Income Tax Department is working hard to end the culture of tax evasion in India. Various tools and forms have been introduced to ensure transparency in the income tax return filing system in the country.
Recently, the Income Tax Department has launched a revised Form 26AS or Annual Information Statement from this financial year 2020-21. This form will contain the details of all the high-value transactions done by the taxpayers.
WHAT IS FORM 26AS?
Form 26AS contains the details of Tax Deducted at Source (TDS) and Tax Collection at Source (TCS). Now property and shared transaction information has also been included in this form.
Form 26AS contains information about the tax paid by you to the government. If you have paid tax on your income or any person/institution has deducted tax on your earnings, then you need to mention the same in Form 26AS. So you can know the details about your income and tax with the help of Form 26AS.
Form 26AS is your annual tax statement. You can get it from the Income Tax Department website with the help of your PAN number. This form will show the details of all high-value transactions done by the taxpayers. Earlier, tax officials used to get this information from financial institutions like banks.
Why Form 26AS has been launched?
The Finance Minister had announced Form 26AS in the Budget 2020-21. The basic purpose behind its introduction is to get information about high-value transactions. Keep in mind that this form already exists but now some changes have been made to it for the convenience of income taxpayers.
This form will show the details of all high-value transactions done by the taxpayers. Earlier, tax officials used to get this information from financial institutions like banks.
The Central Board of Direct Taxes (CBDT) said that the Income Tax Department; Sale/purchase of immovable property, cash deposit/withdrawal from bank savings accounts, purchase of shares, repurchase of shares, debentures, time deposits, foreign exchange, credit card payments, purchase of mutual funds, cash payment for goods and services, etc., from “specific institutions” such as banks, registrars or sub-registrars, mutual funds, and bond issuing institutions.
How to download as 26 from the mark?
1. Methods to View and download Form 26 AS
2. Through the e-filing portal of the Income Tax Department
3. By login to the bank account through net banking
4. Through TRACES Portal of Income Tax Department
How to download Form 26 AS?
Articles Important Information to Download Form 26AS, Brief Steps to Download Form 26AS, Illustrated Guide to Download Form 26AS, Illustrated Guide to View Form 26AS in HTML Format, Illustrated to Download Form 26AS in PDF Format Explains about the illustrated guide to download the guide and Form 26AS. More than 1000 transactions.
1. IMPORTANT NOTICE FOR “DOWNLOADING FORM 26AS”.
Taxpayers can download Form 26AS from Assessment Year 2009-10 through TRACES 26AS is available for online viewing in HTML format 26AS is available to download in two formats: a) PDF b) Text.
26AS can be accessed through net banking or by logging into incometaxindiafiling. gov.in a website that redirects the user to TRACES If the e-filing website prompts the user to register on TRACES to download Form 26AS, the user will be required to register as a taxpayer on TRACES to obtain 26AS Will have to do.
Password for Form 26AS “DDMMYYYY” contains “Date of Birth of the Taxpayer”.
if the file is large (more than 1000 transaction entries) and gives a system-specific warning message that the file can be downloaded in text format only then the taxpayer has to TRACES only The taxpayer has to request for Form 26AS from the U.S. and after receiving the text file, the taxpayer has to convert it into Excel.
2. Short steps for “Download Form 26AS”.
Step 1: Log in to the TRACES website and select the Taxpayer/PAO option and then enter “User ID”, “Password” and “Verification Code” to proceed. The landing page will be displayed on the screen.
Step 2: Click on the tab “View Tax Credit (Form 26AS)”.
Step 3: Click on “View Form 26AS”
Step 4: Select “Assessment Year” and “Format” to download. Click on the “View/Download” button to download or view 26AS.