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Saturday 11 August 2012

How to veiw your tax


How to view your tax credit - Form 26AS 

Income Tax department has introduced a new facility this financial year 2009-10 (AY 2010-11) for viewing your tax payments made – it is called ‘Tax Credit Statement’ or PAN LEDGER or Form 26AS.                          

The Tax Credit Statement (Form 26AS) helps taxpayers in -http://www.investmentyogi.com/Themes/yogi/images/common/star-left-on.gifhttp://www.investmentyogi.com/Themes/yogi/images/common/star-right-on.gifhttp://www.investmentyogi.com/Themes/yogi/images/common/star-left-on.gifhttp://www.investmentyogi.com/Themes/yogi/images/common/star-right-on.gifhttp://www.investmentyogi.com/Themes/yogi/images/common/star-left-on.gifhttp://www.investmentyogi.com/Themes/yogi/images/common/star-right-off.gifhttp://www.investmentyogi.com/Themes/yogi/images/common/star-left-off.gifhttp://www.investmentyogi.com/Themes/yogi/images/common/star-right-off.gifhttp://www.investmentyogi.com/Themes/yogi/images/common/star-left-off.gifhttp://www.investmentyogi.com/Themes/yogi/images/common/star-right-off.gif
                                                
Form 26AS1. Preparing income tax returns 
2. Verifying details of tax deducted at source (TDS)
 
3. Verifying details of tax collected at source (TCS)
 
4. Verifying details of tax payment made by the taxpayer (advance tax, self-assessment tax, regular assessment tax, etc.)
 
5. Viewing details of tax refunds (if any)
                                                
The form helps you to verify if the tax payments made by you (such as, TDS deducted from salary, TDS deducted from interest on deposits, etc.) are correctly reported to the IT Department. This is important to confirm that you receive complete and accurate acknowledgement for tax payments and TDS reported by them in their IT Returns.
                                        
This facility is available only to e-filers registered at Department of Income Tax’s (DIT)  e-filing site or www.tin-nsdl.com - the Tax Information Network (TIN) maintained by National Securities Depository Limited (NSDL). The facility provided by both websites is totally free.
                                          
                                                
Below are the 3 simple steps to view and download one’s Form 26AS through ‘DIT e-filing website’ –
                                  
STEP-1: Register at DIT e-filing website . Login and click on "My Account". Under ‘My Account’, select “View Tax Credit Statement (Form 26AS)”.       
                                     
STEP-2: Once you click on the above link, you will be asked to provide your DOB (Date of Birth) for verification purposes.
 
                                         
STEP-3: You will be redirected to the NSDL website to view/download Form 26AS (Tax Credit Statement).
                                  
             
Form 26AS has 4 parts –
                          
PART A - Details of Tax Deducted at Source (TDS)
 
PART B - Details of Tax Collected at Source (TCS)
 
PART C - Details of Tax Paid by the tax payer (Other than TDS and TCS)
 
PART D - Details of Paid Refund
                       
Note:  
a) You can view the above information from AY 2006-07 to AY 2011-12.
                           
b) In case of any mistake/error with regards to tax deposited by the tax payer through the bank (advance tax or self-assessment tax) - one should contact the branch/bank where the advance tax or self-assessment tax was paid. In case of any mistake/error with regards to tax deducted/collected by the bank and others - one should contact the bank/other person who has deducted/collected such tax.
                        
c) Online tax credit statement can also be viewed in ‘Hindi’ language through registration with www.tin-nsdl.com . 
                                 
d) Online view of Tax Credit Statement (Form 26AS) of taxpayer is also available to net banking account holders of registered banks for the benefits of the tax payer at www.tin-nsdl.com .
                                    
To provide this facility to net banking account holder, the bank should be registered with National Securities Depository Limited (NSDL).
                                                                  
Note:
 Below is the list of banks registered with NSDL for providing the view facility of Tax Credit Statement (Form 26AS):
               

1 comment:

  1. While there are several reasons for the HMRC to require an individuals to file Self Assessment Tax Returns, the final responsibility is still with the tax payer to register for the filing of self assessment tax return. There are also strict deadlines for registering for self assessment tax returns.

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