Traces
Expanded abbreviation – TDS reconciliation analysis and correction enabling system
It is a utility provided by the Income Tax Department for a Taxpayer and the deductor/collector to check online the taxes paid by them & reconcile the records for final filing of IT returns or seeking refunds from the Income Tax Department.
You can view / download Form 26AS from the TRACES portal
Form 26AS shows you the following information
- Tax deducted at source by all deductor who deducted TDS from your income
- The tax collected at source by all collectors who collected TCS from your invoices or sales
- Advance tax paid by the taxpayer
- Self-assessment tax payments
- Details of Income from high-value transactions
Form 26AS has a prescribed format with different parts which can be easily read & understood
- Part A – Details of TDS
- Part A1 – Details of TDS arrived from Form 15G and 15H
- Part A2 – Details of TDS from high-value transactions
- Part B – Details of TCS
- Part C – Details of tax paid (other than TDS or TCS)
- Part D – Details of refunds (if any)
- Part E – A detailed Statement of Financial Transactions
- Part F – Details of TDS on sale of immovable property, rental income, contract & professional income
- Part G – TDS defaults
- Part H – Turnover details from GSTR – 3B
Form 26AS is your Tax Credit Statement by Income Tax Department available for you at TRACES
