Form 26AS
Form 26AS is introduced by income tax department and tdscpcl. It is a really useful tool which not only gives you annual tax related information, but also saves you from income tax notices.In this part, we will analysis each part of form 26AS.
Form 26AS is divided in six parts:
PART A:
Here, we can see information about total TDS deducted by deductor during the year.
- Sections means in which income tax section your tds was deducted.
- Transaction date means when an amount was deposited or credited to your account.
- To get the tax credit, the status of booking should be ‘F’. F means the final status of TDS. It means tds deposited by the deductor in the bank and tds amount filed by deductor in tds statement is matched.
In other case, it will be O (overbooked): Amount claimed in tds statement exceeds tds deposited in bank, U(unmatched): amount claimed in tds statement does not match with amount deposited in bank, P (provisionally matched)-tds deducted by book entry by government and still not verified by PAO.