COMPONENTS OF FORM 26AS

 

COMPONENTS OF FORM 26AS

Part A: Tax Deducted at Source (TDS)

This part contains details of tax deductions, including tax deducted on your salary by your employer, on interest income by your bank, on your pension, or rent. If you are in receipt of rent higher than Rs.50,000 a month, then the tenant is required to deduct tax at source before paying the rent to you. These details will also show on your Form 26AS. This section also has the details of the deductors like their TAN and the amount deducted and deposited.

 

Part A1: TDS for Form 15G/Form 15H

When a taxpayer submits Form15G or 15H to prevent TDS from getting deducted, those details are captured in this section of Form26AS. If you fail to submit Form 15G or 15H or if it does not apply to you, you will see ‘No transactions present’ here.  

Part A2: TDS on sale of Immovable Property u/s194 (IA) (for the seller)

When you sell a flat or office or plot, the buyer must deduct TDS from the amount being paid. The TDS on your sale of the property is recorded in this section.

 Part B: Tax Collected at Source (TCS)

This section contains details of TCS or tax collected at source. This is collected by the seller of specified goods at the time of sale. The segment will also have the seller’s TAN details.

Part C: Tax Paid, other than through TDS or TCS like advance and self-assessment taxes

Apart from TDS or TCS, if you have made tax payments in the form of advance taxes or self-assessment tax, those details will show up in this section. You will also find the challan information for the tax deposited here.

Part D: Refunds received

If you have received tax refunds, all the details will be displayed under this section like the assessment year for which the refund has been paid, date of receipt, mode of payment and amount received.

Part E: Details of Annual Information Return Transactions

This section is dedicated to the details of all the high-value transactions made through banks and financial institutions. This information is based on Annual Information Return reported by banks and financers and includes transactions like mutual fund investments, buying or selling of immovable property, and purchase of large value corporate bonds and debentures.

Part F: Tax deducted on the sale of immovable property u/s194IA (For Buyer of property)

As a buyer of property, you must deduct TDS before paying the seller. Details of such transactions appear in this section. The TDS deducted and deposited by you is reflected here.

Part G: TDS Defaults (processing of defaults)

Nothing gets left out in a Form 26AS. Not even the information about the defaults relating to the processing of tax statements, which is mentioned in this section. This section though does not include demands raised by income tax assessment officers.