26 AS of Income Tax

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26 AS of Income Tax

Accepted Answer

26 AS of Income Tax is a system for online viewing of tax credit statement.

26 AS is a system introduced by the Income Tax Department for taxpayers to view their tax credit statement online.
It contains details of tax deducted at source (TDS), tax collected at source (TCS), advance tax paid, and self-assessment tax paid.
Taxpayers can access their 26 AS statement through the TRACES website or their net banking account.
It helps taxpayers verify if the taxes deducted and paid on their behalf are accurately reflected in their tax credit statement.
Any discrepancies in the 26 AS statement should be rectified with the deductor or the Income Tax Department.
Filing income tax returns without verifying the 26 AS statement can lead to discrepancies and penalties.

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