Image via Wikipedia
26AS was 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.
TIN facilitates a PAN holder to view its Annual Tax Statement (Form 26AS) online. Form 26AS contains
- Details of tax deducted on behalf of the taxpayer by deductors
- Details of tax collected on behalf of the taxpayer by collectors
- Advance tax/self assessment tax/regular assessment tax, etc. deposited by the taxpayers (PAN holders)
- Details of paid refund received during the financial year
Steps for viewing Tax Credit