![]() ![]() In this case, you need to get in touch with your employer. ![]() If there has been a tax deduction and it is not showing in Form 26AS, it means either it has not been deposited or there was a delay in depositing the TDS. It is important that you compare Form 26AS with Form16 received from the employer. ![]() Why is Form 26AS important?įorm 26AS is an important document which gives you the details of the TDS deducted. The same goes if more than Rs.2 lakh is invested in a mutual fund, or more than Rs.2 lakh is spent on a credit card. So, if the total amount deposited in a savings account exceeds Rs.10 lakh, the bank will send an AIR. Annual Information Return (AIR), which is filed by different entities based on what an individual has invested or spent, mostly high-value transactions. Any income tax refund received from the tax department during the relevant financial year.ĥ. Tax collected at source (TCS) is also mentioned in this statement.Ĥ. Any advance tax or self-assessment tax that you may have paid during the year.ģ. Various taxes deducted on your income by your employer, bank, or even a tenant.Ģ. It is an annual consolidated credit statement issued under Section 203AA of the Income-tax Act, 1961. To know what Form 26AS is and how you can view and download it, read on. Form 16 and Form 26AS specify the amount of TDS deducted.įorm 16 contains the details of salary paid to you, tax deducted and deposited by the employer, and the deductions you have claimed during the year. For salaried class, the tax is deducted at source (TDS) by the employer and is deposited to the tax department. ![]()
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