What details does ( 26AS- Tax credit ) form on incometax efilling webites really shows?
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Tax credit - 26as
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Dear sir it is basically a summary of all taxes paid and deducted on your income. For eg say when ever your employer deduct tax on salary and deposit it to government, it is shown in your 26as. Every assessee must see and check his 26as before filling their income tax return. Regards
That means that details of all the possible tax that needs to be deducted by the government or to be paid to the government against my PAN No. will be available of Tax credit 26AS form
It will show all deduction made on your PAN no and the amounts you deposited as advance tax. Regards
You can also have view under which section the TDS got deducted . For ex whether it is for professional fees or whether it is under interest TDS.So it can add knowledge that under which sections tax you have paid/or got deducted.. I can say a summery of tax assigned to a PAN.
In additioin to tax credits i.e TDS, TCS, depsoit of Tax by challan, Refund issued by ITD, transactions reported in AIR are also reflected in Form 26AS.
When i open 26AS form it shows a total amount for a section. Example 20000 Now, this 20000 has the following entries
-5000 B
5000
10000
10000
What is the -5000 and 5000 for?
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