Form 26AS is one of the most important documents for any taxpayer in India. More than just a statement, it serves as a consolidated ledger of all taxes paid, deducted, and refunded under your PAN during a financial year. It is directly linked to your income tax return and plays a critical role in verifying the accuracy of tax credits claimed.
Filing your ITR without reviewing Form 26AS is like submitting a bank statement without verifying transactions. In this comprehensive guide, we will break down what Form 26AS is, why it matters, and how you can access it effortlessly.
What is Form 26AS?
Form 26AS is an annual tax credit statement maintained by the Income Tax Department. It is generated from the records submitted by various deductors (employers, banks, companies, etc.) and matched with your PAN. The form is accessible to all PAN holders through the TRACES (TDS Reconciliation Analysis and Correction Enabling System) portal.
It consolidates tax-related data from multiple sources into one comprehensive report, including:
- TDS (Tax Deducted at Source) on salary, interest, dividends, rent, and other payments
- TCS (Tax Collected at Source) by sellers
- Advance Tax and Self-Assessment Tax paid directly by you
- Refunds issued by the Income Tax Department
- High-value financial transactions reported by banks and registrars starting from FY 2020–21
In short, Form 26AS is the official record of all your tax-related financial activity for the year.
Importance of Form 26AS in Income Tax Filing
1. Accuracy and Transparency
Form 26AS acts as a cross-verification tool when filing your ITR. If the TDS shown in your return doesn’t match Form 26AS, you may not receive the expected tax credit or refund.
2. Avoiding Notices or Scrutiny
Mismatches between declared income and Form 26AS can trigger red flags in the tax department’s automated systems, resulting in scrutiny notices or reassessment.
3. Real-Time Tax Credit
Form 26AS reflects the real-time credits of taxes deducted and deposited. This helps in identifying if any deductor has failed to deposit TDS.
4. Loan and Visa Applications
Lenders and embassies often request Form 26AS as part of income proof and financial credibility checks.
Deep Dive: Key Sections of Form 26AS
| Part | Details Included | Explanation |
| Part A | TDS by employer, bank, or company | Shows who deducted tax, how much, and when. |
| Part A1 | TDS for 15G/15H declarations | Indicates if income was below taxable limits and TDS was avoided. |
| Part A2 | TDS on property sales (Form 26QB) | Useful for property sellers to verify if buyer paid TDS. |
| Part B | TCS by sellers on goods/services | Typically seen when buying high-value goods. |
| Part C | Advance tax/Self-assessment tax | Shows your direct payments made via Challan 280. |
| Part D | Refunds received | Details of any I-T refunds credited to your bank account. |
| Part E | AIR/SFT transactions | Includes high-value mutual fund purchases, property deals, cash deposits, etc. |
| Part F | TDS on immovable property under section 194-IA | Very relevant for real estate buyers/sellers. |
| Part G | Defaults in TDS processing | Shows short payments or delays in TDS filing by the deductor. |
How to View and Download Form 26AS Online
Accessing Form 26AS is straightforward, but must be done securely through the Income Tax portal. Here’s how:
Step-by-Step Guide:
✅ Step 1: Visit the Income Tax Portal
Go to https://www.incometax.gov.in
✅ Step 2: Login
Sign in with your PAN or Aadhaar, password, and the captcha code.
✅ Step 3: Navigate to Form 26AS
Go to ‘e-File’ → select ‘Income Tax Returns’ → then click on ‘View Form 26AS’.
✅ Step 4: Redirect to TRACES
You will be redirected to the TRACES website. Click ‘Confirm’ to proceed.
✅ Step 5: Agree and Continue
Accept the disclaimer, then click on ‘Proceed’.
✅ Step 6: Select Assessment Year and Format
Select the appropriate Assessment Year (for example, choose AY 2025–26 for FY 2024–25). Select format: HTML, Text, or PDF.
✅ Step 7: Download the File
Click ‘View/Download’.
🔒 If you downloaded PDF format, use your Date of Birth (DDMMYYYY) as the password to open it.
Example Use Case: Why Reviewing Form 26AS Matters
Let’s say you received ₹10 lakh as salary in FY 2024–25, and your employer deducted ₹80,000 as TDS. But while filing your return, Form 26AS shows only ₹40,000 TDS deposited.
This could mean:
- Your employer failed to deposit full TDS.
- Wrong PAN was mentioned.
- TDS return was not filed.
If you don’t correct this, you may have to pay extra tax or lose refund benefits. Always contact the deductor to rectify mismatches.
Recent Changes in Form 26AS (Post 2020)
- Expanded scope under Rule 114-I of Income Tax Rules.
- Includes information from SFT filings like credit card payments > ₹10 lakh/year, large investments, etc.
- Proceedings under Income Tax Act are now visible—pending and completed.
- This information has now been partially migrated to a new form: AIS (Annual Information Statement) for greater coverage.
Form 26AS vs. AIS – What’s the Difference?
| Feature | Form 26AS | AIS (Annual Information Statement) |
| Scope | Limited to tax deducted/collected, refunds, and certain financial transactions | Broader – includes interest income, mutual fund transactions, credit card spending, etc. |
| Usage | Still primary for ITR verification | Supplementary reference document |
| Access | TRACES via Income Tax Portal | Directly from AIS section in portal |
Pro Tips: How to Use Form 26AS Effectively
- Compare Form 26AS with Form 16/16A for salary or interest income.
- Always check it quarterly, not just at year-end.
- If you see incorrect or missing entries, ask the deductor to revise their TDS return (Form 24Q/26Q).
- Keep a printed copy of your Form 26AS for records—especially for visa, loans, and audits.
Conclusion
Form 26AS is not just a form—it’s your tax ledger, your reputation with the Income Tax Department, and your financial footprint. Whether you’re a salaried employee, a freelancer, or a business owner, regularly reviewing Form 26AS ensures clean tax compliance and peace of mind.
With a secure digital portal and access to all your tax data in one place, staying informed has never been easier. Make it a habit to download and verify your Form 26AS every year—preferably before filing your ITR.
FAQs
No, login is mandatory via the Income Tax Portal. It ensures privacy and secure access.
Contact the deductor to revise their TDS return. The correction will reflect in your 26AS in the next update cycle.
Only high-value investments appear in Form 26AS (under SFT). For complete MF transactions, refer to AIS.
Yes, even if you have no income, reviewing 26AS is advisable to confirm that no incorrect TDS has been applied under your PAN.
Yes, NRIs can access Form 26AS using their PAN credentials via the Indian Income Tax Portal.
