Every taxpayer can view or verify proper credits of Taxes paid (only with respect to Financial Year 05-06 onwards) from their Annual Tax Statement (26AS). 26AS is an excellent tool to verify the tax credit given to the assessee. One can view the tax credit available against its PAN (Permanent Account Number) simply by registering to the Income Tax Department site. Before filing return of income the taxpayer should verify whether proper tax has been credited to their account. If there arise any discrepancies with regard to tax credit, you should inform the same to the deductor. Every entity that has deducted or collected tax at source i.e., deductor is required to deposit the tax to the government account through a bank and accordingly banks will upload this payment-related information to the TIN central system. These deductors are also required to file a quarterly statement to TIN giving the details of their TDS/TCS. The TIN central system will match the tax payment-related information in the statement with the tax receipt information from the banks. If both of these match TIN will create a comprehensive ledger for each PAN holder giving details of the tax deducted/collected on its basis by every deductor who has filed the statement. The taxpayer should be aware that whether the deductor has deposit the tax to the government account and filed statement with regard to the same and if not the taxpayer should request for the same. Form 26AS helps in preparing Income Tax Return (ITR) and fill 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. We at Taxmantra.com have the expertise in handling issues relating to individual taxation (Tax Returns + Tax Support+ Tax Planning). Taxmantra.com provides most hassle free tax return filing/ online return filing experience. Once you have collected, your salary certificate and other documents, we request you to please log in to www.taxmantra.com/ereturns or you can also directly mail at info@taxmantra.com to submit the details. Upon receiving the documents, we would contact you to file your return of income.
File Your Return of Income after checking the Tax Credit Online
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Every taxpayer can view or verify proper credits of Taxes paid (only with respect to Financial Year 05-06 onwards) from their Annual Tax Statement (26AS). 26AS is an excellent tool to verify the tax credit given to the assessee. One can view the tax credit available against its PAN (Permanent Account Number) simply by registering to the Income Tax Department site. Before filing return of income the taxpayer should verify whether proper tax has been credited to their account. If there arise any discrepancies with regard to tax credit, you should inform the same to the deductor. Every entity that has deducted or collected tax at source i.e., deductor is required to deposit the tax to the government account through a bank and accordingly banks will upload this payment-related information to the TIN central system. These deductors are also required to file a quarterly statement to TIN giving the details of their TDS/TCS. The TIN central system will match the tax payment-related information in the statement with the tax receipt information from the banks. If both of these match TIN will create a comprehensive ledger for each PAN holder giving details of the tax deducted/collected on its basis by every deductor who has filed the statement. The taxpayer should be aware that whether the deductor has deposit the tax to the government account and filed statement with regard to the same and if not the taxpayer should request for the same. Form 26AS helps in preparing Income Tax Return (ITR) and fill 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. We at Taxmantra.com have the expertise in handling issues relating to individual taxation (Tax Returns + Tax Support+ Tax Planning). Taxmantra.com provides most hassle free tax return filing/ online return filing experience. Once you have collected, your salary certificate and other documents, we request you to please log in to www.taxmantra.com/ereturns or you can also directly mail at info@taxmantra.com to submit the details. Upon receiving the documents, we would contact you to file your return of income.