Income Tax form 26AS What is Form 26AS?
Income tax form26as is a tax statement which can be used by a tax payers . The people with PAN cards can issue the tax statement under Rule 31 AB of income Tax Rules. The income tax form26AS came into amendment after 2005. So the tax statement can be issued 2005-06 onwards.
The tax payer can issue this form 26AS statement to issue tax deduction/collection for a certain financial year.
The tax statement under form 26AS will contain the following details with respect to financial year;
1) Tax deducted at source, also called as TDS;
2) Tax collected at source,also called as TCS;
3) Advance tax assessment ,regular assessment etc. deposited in the bank by the tax payers who are PAN card holders.
The information in Form 26AS is organized into 3 parts to provide a systematic and lucid way to understand and check out all the details of tax payment.
Form 26AS Download
The Annual Tax Statement ( Form 26AS ) is divided into A, B and C as mentioned below;
The part A contains all the details regarding tax deducted at source which is also called as TDS and also regarding the person who made payment to you. So part A contains the source and the deductor and related details in a statement. Details are particularly date on which payments were paid or credited. Tax deduction tax deposition in the bank are the part of first section.
This part contains all the details of the seller of a certain goods which are sold to you at a particular time. This details are of the tax which is being collected at source (TCS). This part will also give the details about the seller and the tax which is collected.
This part strictly displays the details regarding the income tax paid by a individual person also called as advance self assessment and the payment you did in a form of challan which a individual have deposited in the bank.
The Income Tax Form 26AS thus gives you a service to issue a statement to check out all the details regarding the payment you made the seller who sold a specific good to you. The details regarding the deductor as well as a source. Thus this the service which makes easy to check out the details regarding different scenarios of tax payment.