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Friday, July 2, 2010

Verify your tax credit today!

You can now view your Form 26AS (Taxes paid) at ITR e-Filing website, without any additional login.
To view the tax statement, Assessees can now login in to www.incometaxindiae filing.gov.
in with their login, and click on
“My Accounts” -> “View Tax Credit Statement (Form 26AS)”.
Here, you should select the “assessment year”, confirm your “date of birth” and proceed.
It will open the same NSDL website page of PAN ledger account.

What is Form 26AS?

Form 26AS is an Annual Tax Statement regularly updated by Income Tax Department.
This allows the tax payer to verify proper credits of Taxes paid
(mainly TDS and also Advance Tax / Self Assessment Tax).

Who should verify?

When we deposit some amount into our Bank Account, we verify whether it has reflected properly
in our account, or not. In a similar fashion, it is the right of every Tax Payer to verify the
Taxes paid under his account (PAN) to the Department.

With the process of Form 26AS, department recommends each and every tax payer to verify their Tax credits.
Missing this information, they should contact their deductor to get proper credit, as specified in their TDS certificate.
In case of Advance Tax / Self Assessment Tax issues, it can be either intimated to remitted bank or NSDL.

Scope of Form 26AS

Last year, department had processed such tax statements over email, wherever email ID is available.
This played a prominent role for assessees in determining their proper tax paid details.
Providing accurate tax paid (including TDS) details in income tax return, ensures faster processing of returns.
This in turn results in faster closure of assessment and also settling refunds wherever applicable.

The scope of Form 26AS is widened to a great extent.
Tax payer can now access this facility either with his Registered Login at NSDL website,
or at Online Banking Accounts (few of the banks) or at www.incometaxindiae filing.gov. in.

Verify your tax credit today!

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