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Q. > Please Help: 26 as
what is 26 AS? AND what is its use?
answered Sep 10, 2012 by PRIYANKA , GREATER NOIDA
Instead of typing the answer got typed in the comment area. As u can c there Form 26AS is very useful, as just a few clicks away we can know how much TDS is deducted . And moreover if some party has not given us complete payment saying that TDS was deducted but it is not getting reflected in 26As, then we can ask for the TDS sum and seek a clarification from the party.
answered Sep 13, 2012 by Rambabu Senkarasetti , Guntur
26AS is the tax credit statement in a consolidated form that captured all tax deductions, collections and advance/self-assessment taxes for a taxpayer relating to a tax year. The system matched the details furnished by the deductor in the quarterly returns with that provided by the banks accepting tax payments. Once this online verification is completed, Form 26AS is generated/updated.
It’s an effort by the tax authorities, designed to give tax payers a heads up on the tax credit available to them.
answered Sep 13, 2012 by Rambabu Senkarasetti , Guntur
26AS is the tax credit statement in a consolidated form that captured all tax deductions, collections and advance/self-assessment taxes for a taxpayer relating to a tax year. The system matched the details furnished by the deductor in the quarterly returns with that provided by the banks accepting tax payments. Once this online verification is completed, Form 26AS is generated/updated.
It’s an effort by the tax authorities, designed to give tax payers a heads up on the tax credit available to them.
Experts Panelist
Comments
PRIYANKA
10-Sep-2012 , 10:28:01 pmForm 26AS is statement of tax deducted at source from our reciepts by various parties. If a party has deducted our TDS and filed TDS return also , our TDS credit gets reflected online in form 25AS which can be viewed through incometaxindiaefiling site, through loggin in our account. Its use are that we can know how much TDS is deducted by various parties . If a party has deducted our TDS but it is not getting reflected in 26AS, then it means that either the party has not deposited TDS yet or that he has not filed the return.