Viewing Form 26AS on TRACES

In our article TDS, Form 26AS and TRACE we explained about the new initiative of Income Tax Department (ITD) for information about Tax Deducted at Source (TDS) called TRACES or TDS Reconciliation Analysis and Correction Enabling System. TRACES has been created to enhance swift interaction between the deductor, deductee, income-tax department and CPC. Till 31st Oct 2012 Tax Information Network (TIN) by NSDL(tin-nsdl.com) was used to collect information about Tax Deducted at Source (TDS) on behalf of Income Tax Department (ITD). It enables viewing of challan status, downloading of NSDL Conso File, Justification Report and Form 16 / 16A as well as viewing of annual tax credit statements (Form 26AS). In this article we shall see different ways of viewing Form 26AS. Tax Credits Statement (Form 26AS) can be viewed or accessed e-filing site of Income Tax, Through Net Banking facility of some Banks and through TRACES website itself after registration. In this article we shall cover these ways of viewing Form 26AS in detail with pictures,
Form 26AS
Income Tax Department facilitates a PAN holder to view its Tax Credit Statement (Form 26AS) online. Form 26AS contains

• Details of tax deducted on behalf of the taxpayer by deductors ,Part A & A1 of Form 26AS.
• Details of tax collected on behalf of the taxpayer by collectors. Part B of Form 26AS
• Advance tax/self assessment tax/regular assessment tax, etc. deposited by the taxpayers (PAN holders), Part C of Form 26AS
• Details of paid refund received during the financial year, Part D of Form 26AS
• Details of the High value Transactions in respect of shares, mutual fund etc. Also called as Details of AIR((Annual Information Return) transactions,Part E of Form 26AS.

The Tax Credit Statement (Form 26AS) are generated wherein valid PAN has been reported in the TDS statements.It is a form issued under Rule 31AB.

• From FY 2005-06(AY 2006-07) to 31st Oct 2012 one can view the Form through TIN-NSDL website.
• From FY 2008-2009 (AY 2009-10) one can also view the Form through TRACES website

Viewing Tax Credit : Form 26AS

Now Tax Credits Statement (Form 26AS) can be viewed/accessed through following ways :
1. View Tax Credit from incometaxindiaefiling.gov.in
Taxpayers who are registered at the portal incometaxindiaefiling.gov.in for e-filing of income tax returns can view 26AS by clicking on ‘View Tax Credit Statement (From 26AS)’ in “My Account”. The facility is available free of cost. Earlier it used to TIN-NSDL website, now it takes to TRACES.
2. View Tax Credit (Form 26AS) through banks using net banking facility
The facility is available to a PAN holder having net banking account with any of authorized banks. View of Tax Credit Statement (Form 26AS) is available only if the PAN is mapped to that particular account. The facility is available for free of cost.
Banks Site showing tax credit through TRACES (Earlier it was taking to TIN-NSDL site) : (Will be updated as we get more information)