Structure and Parts of Form 26AS

Form 26AS consists of different parts that provide a comprehensive overview of a taxpayer’s tax-related information. Here is the structure and breakdown of the parts of Form 26AS:

Part A: Personal Information

This section contains the taxpayer’s personal details, including their name, address, and Permanent Account Number (PAN). It provides basic identification information for the taxpayer.

Part B: Details of Tax Deducted at Source (TDS)

Part B of Form 26AS provides a summary of tax deducted at source by various deductors on behalf of the taxpayer. It includes details, such as the name and Tax Deduction Account Number (TAN) of the deductor, the amount of TDS deducted, and the nature of income for which TDS was deducted.

Part C: Details of Tax Collected at Source (TCS)

This section displays information related to tax collected at source by sellers of specified goods. It includes details such as the name and TAN of the collector, the amount of TCS collected, and the nature of goods for which TCS was collected.

Part D: Details of Tax Paid (other than TDS/TCS)

Part D provides information about tax payments made by the taxpayer other than TDS or TCS. It includes details of advance tax, self-assessment tax, and any other tax payments made by the taxpayer during the financial year.

Part E: Details of Annual Information Return (AIR) Transactions

This section of Form 26AS displays high-value transactions reported by specified entities under the Annual Information (AIR) provisions. It includes details such as cash deposits, purchase of share/mutual funds, credit card payments, etc.

Part F: Details of Tax Deducted at Source on Sale of Immovable Property

If the taxpayer has sold any immovable property, this part of Form 26AS provides information about the tax deducted at source on such transactions.

Part G: TDS Defaults (Processing of Statements)

Part G displays any defaults or errors found during the processing of TDS statements filed by deductors. It includes details of statements processed with defaults and their respective financial years.

Part H: Refund Issued

This section shows details of any tax refunds issued by the Income Tax Department to the taxpayer during the financial year.

Part I: Details of Tax Demand Outstanding

Part I of Form 26AS displays any outstanding tax demand against the taxpayer. It includes details such as the assessment year, demand Identification number, and the amount of tax payable.

Part J: Tax Credit for TCS

This section provides details of tax collected at source (TCS).

Part K: Details of paid refund

Part K displays information related to refunds already paid to the taxpayer in previous years.

Part L: AIR Transactions Noted by Department

This section provides additional information about specified transactions identified by the Income Tax Department.

Each part of Form 26AS serves to provide a comprehensive view of different tax-related aspects, allowing taxpayers to reconcile their tax liabilities, verify tax deductions, and ensure accurate tax filings.

Form 26AS is a consolidated tax statement by the Income Tax Department of India that provides taxpayers with a consolidated view of their tax-related information. It serves as a comprehensive tax statement that includes details of tax credits, tax deductions, and other income sources. Form 26AS plays a vital role in facilitating tax compliance and accurate reporting of income while filing tax returns. It allows taxpayers to verify the correctness of TDS and TCS entries, track tax refunds, and monitor their tax liabilities. By providing easy access to consolidated tax information, Form 26AS helps taxpayers in managing their tax obligations effectively and maintain transparency with the tax authorities.