Form 26AS Explained: How to Read It and Why It Matters for Tax Filing

When you prepare to file your income tax return, one document plays a central role in verifying your tax payments and credits. That document is Form 26AS. Many taxpayers hear about it while filing returns, but not everyone understands what it contains and how to use it correctly.

Form 26AS is a consolidated annual tax statement linked to your PAN. It reflects details of tax deducted, tax collected, advance tax paid, refunds issued and certain high-value financial transactions. Reading it carefully before filing your return helps avoid errors, mismatches and future notices.

Let us understand what Form 26AS is, what it includes, how to read it and why it matters.

What Is Form 26AS?

Form 26AS is an annual tax credit statement maintained by the Income Tax Department. It captures tax-related information reported against your PAN during a financial year.

It shows:

Tax deducted at source from salary, interest, rent, commission, professional fees and other payments
Tax collected at source by sellers
Advance tax and self-assessment tax paid by you
Tax refunds issued by the department
Details of specified financial transactions
Information about TDS defaults, if any

It acts like a tax passbook. Before you file your income tax return, you should check that the taxes shown in your records match what appears in Form 26AS.

What Has Been Updated in Form 26AS

Over time, Form 26AS has been expanded to provide more transparency.

It now includes:

Foreign remittances reported in Form 15CC
Quarterly details of TDS from salary
Information on ongoing or completed income tax proceedings
Details of tax demands and refunds, where applicable
Advance tax payments made by the taxpayer

In addition to basic personal details such as name, address and PAN, the form may also show contact details like date of birth, registered email address and mobile number.

These additions help ensure better communication and tracking of tax information.

How Form 26AS Is Organised

Form 26AS is divided into different sections. Each section covers a specific type of information.

Part A: TDS Details

This section shows tax deducted from your income. It includes salary, interest, pension and other payments. The information is updated quarterly and also shows the name of the deductor and the amount deducted.

There are sub sections for:

Cases where Form 15G or 15H was submitted
TDS on property transactions, rent or payments to contractors and professionals

Part B: TCS Details

If tax has been collected at source on certain transactions, such as sale of goods, this part shows the amount collected and deposited by the seller.

Part C: Tax Paid Other Than TDS or TCS

This section shows taxes paid directly by you, such as advance tax or self-assessment tax.

Part D: Refund Details

If you have received a tax refund, this section displays the refund amount, payment mode, interest if any and date of payment.

Part E: Statement of Financial Transactions

This part reflects high-value transactions reported to the department. It may include large deposits, property purchases or sales, significant credit card payments and similar transactions.

Part F: TDS on Property, Rent or Professional Payments from Buyer or Tenant Side

If you have deducted tax as a buyer or tenant, this part shows the TDS deposited by you.

Part G: TDS Defaults

This section highlights defaults in processing of TDS statements. It is important to review this if you are a deductor.

Why Form 26AS Matters Before Filing Your Return?

Form 26AS plays an important role in accurate tax filing.

Ensures Correct Tax Credit

The tax you claim in your return must match the tax reflected in Form 26AS. If your employer or bank has deducted TDS but not deposited it, it may not appear in this form.

Helps Compare With Form 16

Salaried individuals receive Form 16 from their employer. Before filing the return, compare Form 16 with Form 26AS. If tax appears in Form 16 but not in Form 26AS, it could mean the tax has not been deposited or reported correctly.

Employers usually issue Form 16 by May 31 each year. Even then, always cross-check both documents before filing your return.

Tracks Refunds and Demands

You can verify whether your refund has been processed and credited. If there is any outstanding demand, it may also be reflected.

Prevents Errors and Notices

Mismatches between the tax claimed in your return and the tax shown in Form 26AS can result in processing delays or notices. Reviewing this form helps avoid under reporting or over reporting.

Useful for Loans and Financial Applications

Since it shows your tax payment history, financial institutions may ask for Form 26AS when you apply for loans or credit.

What You Should Check in Form 26AS

Before filing your return, review the following:

Name of deductor
Total amount paid or credited
Tax deducted
Tax deposited
Advance tax entries
Refund details
Any unexpected income or transactions

Ensure that no extra income is listed under your PAN. If there is any mismatch, address it before filing your return.

How to View or Download Form 26AS

There are multiple ways to access Form 26AS.

Through the Income Tax E-Filing Portal

Log in to the income tax e-filing portal.
Go to the section where tax credit statements are available.
Select the option to view Form 26AS.
Confirm the disclaimer and proceed to the TDS CPC portal.
Choose the relevant assessment year and preferred view format.
Click on view or download to access the form.

You can download it in PDF format. The file does not require a password.

Through Net Banking

If your PAN is linked to your bank account, you can log in to net banking and look for the tax credit or Form 26AS option. Confirm your PAN details and access the statement.

Through the TRACES Portal

You must first register on the TRACES portal. After logging in with your credentials:

Click on the option to view tax credit statement.
Enter required details such as password and assessment year.
Access and download your Form 26AS.

Common Issues While Accessing Form 26AS

Some taxpayers face difficulties while checking their statements. Common reasons include:

TDS not deposited by the deductor
TDS return not filed by the deductor
TDS reported under the wrong PAN
Technical issues on the portal
Net banking facility not available for viewing

If your tax credit is not visible, you can check the TDS or TCS credit status on the TRACES website using your PAN.

You may also raise a grievance through the Taxpayer Grievance Module on TRACES if needed.

What To Do If You Find an Error?

You cannot directly edit Form 26AS.

If you find a mismatch:

Inform the deductor and request correction in their TDS return.
Once the correction is processed, the updated figures will appear in Form 26AS.
Download the revised statement and verify before filing your return.

It is important to correct errors before filing your income tax return to avoid future complications.

Final Thoughts

Form 26AS is more than just a statement. It is a complete record of taxes linked to your PAN for a financial year. Reviewing it carefully helps you file your return accurately and claim the correct tax credits.

Before you submit your return, compare your income records, Form 16 if applicable and Form 26AS. If required, you may also use an income tax calculator to estimate your liability and match it with the taxes already paid.

A few minutes spent reviewing Form 26AS can save time, prevent notices and ensure a smooth tax filing experience.