What Is Form 26AS? How to Download & Use It for Tax Filing

Reha: “Nia, I just opened my income tax portal and noticed something called Form 26AS. Should I be worried? It looks complicated!”

Nia: “Don’t worry! It’s actually a very helpful document. Think of it like your annual tax passbook. Everything the Income Tax Department knows about your income and TDS is recorded there!”

Reha: “Oh! So it’s like my financial mirror for the year?”

Nia: “Exactly! Especially useful if you’re managing your own finances.

What Is Form 26AS?

Form 26AS  is a consolidated document of every tax-related information associated with your PAN (Permanent Account Number). And an Annual Information Statement for a particular Financial Year (FY). It contains the details of the following:

• Tax Deducted at Source (TDS)
• Tax Collected at Source (TCS)
• High-value transactions, like Details of Tax Deducted on the sale of immovable property
• TDS Defaults (if any)

Consider  Form 26AS as your credit card statement, but for your income and taxes. It shows who deducted tax on your behalf, and whether it reached the government correctly.

Why Is Form 26AS Important for Women Taxpayers?

As more and more women take charge of their financial journey, Form 26AS becomes a key tool in financial empowerment for them:

 1. Verify Your TDS Deductions

Salaried individuals have TDS deducted by their employers regularly. However, the deduction is only valid if it’s deposited with the Income Tax Department.

 Form 26AS acts as proof that this deposit has been made.

Example: Sneha changed jobs mid-year. Both the companies deducted TDS, but only one deposited it. Thanks to Form 26AS, she spotted the mismatch and got it fixed by reaching out to her previous employer who missed to deposit.

2. Avoid Double Taxation

Freelancers and consultants often have TDS deducted by multiple clients throughout the year. If these deductions aren’t properly tracked and reported, you may end up paying extra tax.

Form 26AS helps you claim credit for all TDS deducted

3. Proof of Income for Loans & Visas

Form 26AS serves as an official record of your income and tax payments. It is commonly accepted by banks during loan processing and by embassies as proof of income for visa applications.

What Details Are Shown in Form 26AS?

Form 26AS is a statement that shows the following information:

• Details of tax deducted at source on TDS from salary, FD interest, etc.
• Details of the Tax Collected at Source
• Regular assessment tax deposited by the taxpayers (PAN holders)
• Details of the high-value transactions regarding the Purchase of property, mutual funds, etc.
• Details of tax deducted on the sale of immovable property
• Details of TDS defaults (after processing the TDS return) made during the year
• Details of specified financial transactions

How to Download Form 26AS? (Step-by-Step for Beginners)

Option 1: Via Income Tax Portal

Step 1 – Log in to https://www.incometax.gov.in

Step 2 – Go to the ‘e-file’> Income Tax Returns 

Step 3 – click on ‘View Form 26AS.

Step 4 – Read the disclaimer, click ‘Confirm’ and the user will be redirected to the TDS-CPC Portal.

Step 5 -In the TDS-CPC Portal, agree to the acceptance of usage. Click ‘Proceed’.

Step 6- Click ‘View Tax Credit (Form 26AS)’

Step 7 – Select the ‘Assessment Year’ 

Step 8 – View type (HTML or Text). Click ‘View / Download’

Option 2: Via Net Banking

If your PAN is linked with your bank account:

• Log in to net banking (e.g., SBI, HDFC, ICICI)
  
• Look for the Tax Services / Form 26AS section
  
• You’ll be redirected to the TRACES site to view your 26AS
  

How Women Can Use Form 26AS for Smarter Tax Filing?

1. Verify TDS Before Filing

Always compare the TDS details in your Form 26AS with Form 16 (for salary) and Form 16A (for interest or other income).
If there’s any discrepancy, promptly contact your employer or the bank to get it corrected.

2. Avoid Double Taxation

If you have income from multiple sources such as salary, interest, or freelance work, Form 26AS provides a consolidated summary of all TDS and tax-related information.
This helps ensure accurate reporting and prevents duplication of income while filing your tax return.

3. Avoid Notices

Using 26AS ensures accurate reporting and reduces the chances of getting notices from the tax department

Reha: “Neha, I was so confused by all the tax documents. But my Form 26AS had everything!”

Nia: “Right? I used it to double-check my TDS, and it turns out one of my client didn’t deposit it. That saves me from extra tax!”

Pro Tip for Women Managing Finances Independently

Form 26AS is your best friend during tax season. Whether you’re a salaried employee, an investor, or an entrepreneur, always cross-check your income and taxes from this form before filing your return.

 “When it comes to taxes, your PAN tells a story.” 

Conclusion: Take Charge of Your Taxes with Form 26AS

Don’t let tax filing stress you out. Use Form 26AS as your financial mirror as it reflects your income, deductions, and taxes paid. It empowers you to file accurately, avoid excess tax, and stay compliant with ease.

FAQs

Further read:

• HRA Calculator: A Smart Way to Maximize Your Tax Savings On Rent!
• ELSS vs PPF: Choosing the Best Investment for Tax Savings
• Income Tax Benefits for Women: What Every Woman Can Avail