Know your FORM 26AS – Tax Credit Statement

Know your FORM 26AS – Tax Credit Statement.

Very often Income tax department of India come up with its amazing services that really lower the burden of tension over the taxpayers of India. But with every new scheme, directorate of Income Tax come out with a new form for which taxpayers have to enquire from various sources.

This post is about Form 26AS which is literally called as Tax credit statement which generally comes under the category of income tax efiling section.

Actually form 26AS contains various details related to the filing of income tax returns like the details of Tax deducted or collected from the income of the tax payer, advance tax or self assessment tax or regular assessment tax, etc deposited by the taxpayer. It also gives information about the refund paid during the financial year and the details of high value transaction in respect of shares, mutual funds, etc.

When the question comes “what is the need of form 26AS?”, then we can conclude that by means of form 26AS i.e. tax credit statement as the name suggests, we can ensure correct credit for the tax paid and to avoid tax demand notice from IT department. And more importantly for seemless processing of Income tax return & speedy issue of refunds.

If you want to view your tax credit statement i.e. Form 26AS, you can do it via 3 ways

1.    By registering for efiling at www.incometaxindiaefiling.gov.in
2.    By using net banking facility of 21 authorized banks
3.    By registering with NSDL

Content is copyrighted © www.123mylist.com