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Understanding Taxes

Check Your Income Tax Credit Status (Form 26AS) Online

image Have you ever faced a situation when you have paid the income tax on time but still got the tax demand notice. It may happen at time when someone like your employer or CA etc is paying taxes on your behalf. Sometimes they may miss paying it on time which results in this issue.

 

(Also see: Filing tax returns - Have you disclosed these incomes?)

 

Income Tax department has provided a way to check this problem. Now you can check your income tax credit statement (Form 26AS) anytime online and take corrective measures if needed. This may avoid a lot of inconvenience.

 

Form 26AS contains details of:

  • Tax deducted and collected on behalf of taxpayers
  • Advance tax/self assessment tax/regular assessment tax etc deposited by taxpayers (PAN holders)
  • Payment of income tax refund during the financial year
  • High value transactions in respect of shares, mutual funds etc

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 (Also see: Tax terms simplified)

View form 26AS to ensure correct credit for the taxes paid/deducted:

  • To avoid demand notice from the income tax department.
  • For seamless processing of Income Tax Department Return and speedy issue of refunds

How to View Form 26AS?

    •    Option 1: Register for viewing Form 26AS by registering for e-filing on https://incometaxindiaefiling.gov.in/. Registration is immediate, without any cost and does not obligate income tax efiling.
    o    After logging in click on My Account tab
    o    There will be an option View Your Tax Credit Statement (Form 26AS)
    o    It will take you to DOB verification page
    o    In the next step it will ask your permission to be redirected to the NSDL site where you have to press the confirm button
    o    You will be re-directed to your Form 26AS and you can select the assessment year in the top right corner for which you want to see the details.
    o    Please remember that Assessment year is 1 year ahead of the financial year. For example for FY 2011 – 12, the Assessment Year is 2012 –13
    •    Option 2: Through net banking facility of 19 authorized banks. Login to your net banking account and check if this facility is provided.
    •    Option 3: Through registration with NSDL

Form 26AS

   

In case your tax deduction is not reflected correctly in your Form 26AS, ask the deductor to file the TDS statement/correct statement at TIN Facilitation centres.

About the Author:

Priya Rao is our in-house Financial Planner and a personal finance enthusiast. She is a Certified Financial Planner(CFP) and can be reached at expert@investmentyogi.com.

 

Income Tax Calculator

 

Published May 20 2011




Comments

Comments

 

Ravi said:

MAKE Rs 50000 EVERY MONTH NO INVESTMENT NEEDED! www.clixsense.com

May 21, 2011 6:38 AM
 

Karan Batra said:

The Tax Credit Status can also be viewed online through your Banking Account if you've registered for Net Banking.

May 26, 2011 3:31 AM
 

Alabama Tax Refund said:

i like your blog about tax credit status.

June 2, 2011 5:24 AM
 

kirti said:

Hello,

Great article.

Article mentions Form 26AS shows "High value transactions in respect of shares, mutual funds etc". I am unable to see it in my Form ? What is High value amount?

Thanks

Kirti

July 15, 2011 12:15 AM
 

c.sandhya kameshwari said:

good to view and go through it when ever you need to file return.thanks for the given information.

July 31, 2011 7:46 AM
 

ASHOK SETH said:

I dont understand what to comment

August 2, 2011 8:06 AM
 

ASHOK SETH said:

I want to see form 26AS

August 2, 2011 8:08 AM
 

SJ said:

my monthly income is 18000rs in hand after PF but i am work only 9 moth in a year inreguraly. so tell me i needed to fill tax?? and if yes then how much tax needed?

October 13, 2011 3:51 PM

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