Form 26AS Demystified
Author: Jai Prakash
· It is a credit statement issued under Section 203AA of the Income Tax Act, 1961.
· It contains details of tax deducted at source (TDS) for your different income sources. These could include sources such as salary from your employer, interest income from bank fixed deposit (FD) and other investments.
· Form 26AS also contains details of advance tax or self-assessment tax during the course of Assessment Year. Of course, you need to remember an important thing. The tax payment deposit details need to match with the tax due.
· Last but not the least, Form 26AS can be downloaded from the e-filing website of the Income Tax Department i.e.incometaxindiaefiling.com after you log in.
Needless to say, there is much more to Form 26AS than what we have described here. However, this enough for you to appreciate its importance especially, when you file your income tax return.
