Annual Tax Statement (Form 26AS)

Annual Tax Statement (Form 26AS) is a statement, which is created financial year wise on the basis of TDS/TCS returns filed by the Deductor/Collector and tax deposited in the bank.

Form 26AS includes details of:
a) All tax deducted at source (TDS) covered in Part A;
b) All tax collected at source (TCS) covered in Part B;  and
c) All advance tax/self assessment tax/regular assessment tax etc., deposited in the bank by the taxpayers (PAN holders) covered in Part C.

d) Details of paid refund received during the A.Y.

Kindly note that in PART A/B (Details of Tax deducted/collected at source), the "Status of Booking (P/F/U)" indicates the following:-

Provisional (P) - Only for TDS/TCS affected by Government deductors. Provisional tax credit is effected on the basis of TDS/TCS returns filed only. On verification of the payment details by the Pay & Accounts officer (PAO), status will change to Final (F).

Unmatched (U) -  Deductors have not deposited the taxes or have furnished incorrect particulars of tax payment. Final credit will be reflected only when the payment details in the bank match with the details of deposit in the TDS/TCS return.

Final (F) - In case of non-Government deductors, payment details of TDS/TCS deposited in bank by the deductor have matched with the payment details mentioned in the TDS/TCS return filed by the deductor.

In case of Government deductors, details of TDS/TCS booked in Government account have been verified by the Pay and Accounts Officer (PAO).

In PART C, Details of Tax Paid (Other than TDS or TCS) related to  Securities Transaction Tax and Banking Cash Transaction Tax are not displayed.

Form 26AS will help you to verify the credits for taxes deducted from the income received and the advance tax/ self assessment tax deposited by you at the bank.

 

Possible reasons for mismatch/missing entry in Part A/B (Details of TDS or TCS) are as follow:-

·         Deductor/collector has not filed quarterly TDS/TCS return.

·          Deductor /collector has not quoted or has wrongly quoted your PAN in the TDS/TCS return.

·         You have not provided PAN or have provided wrong PAN to the deductor/collector .

·          The TDS/TCS return filed by the deductor/collector is rejected in the system.

In case of entries with Status of Booking "U" (Unmatched)

·          Deductor has wrongly quoted the challan details in the return against which your TDS/TCS was deposited.

·          Deductor has provided correct challan details in TDS/TCS return but bank has made error while digitising challan details.

Possible reasons for mismatch/missing entry in "Part C" Details of tax paid (other than TDS or TCS) are as follow:-

The Bank

·          has digitized incorrect PAN in  Challan.

·         has not uploaded the digitized challan.

·          has made error in digitising amount/major head while digitizing the Challan data

·          has made error in digitising CIN details in the Challan data

You

·          have mentioned wrong A.Y. in the challan which will result in updation of Form 26AS for wrong A.Y.

·          have quoted incorrect  PAN in the tax payment challan

CIN consists of the BSR code of the bank branch where you deposited the tax, date on which you deposited tax and the challan serial number which have been stamped on the counter foil of the challan given to you.

Note :-

You can verify following at TIN web-site (www.tin-nsdl.com)

1.     Status of the Challan through which tax deposited by you in the bank by clicking on link 'Challan Status Enquiry'.

2.     The Status of return uploaded by deductor/collector by clicking on link "Quarterly Statement Status".