Online verification of TDS certificate Using Form 26AS
An explanation of online verification of TDS certificate
In this post, we discuss Form 26AS in detail and how to verify your TDS certificate online. We’ll discuss each section in particular:
What is form 26AS and how to get it ?
An annual tax credit statement is generated by the income tax department for a taxpayer in Form 26AS. The report provides details such as the name of the deductee, PAN of the deductee, Tax deducted by the deductor, other tax amount deposited under the PAN, etc.
The user can download the statement from the income tax e-filing website. This statement is linked to the PAN of the deductee and contains the details of all Tax by the employers and others (e.g. banks, etc).
The link to download Form 26AS from TRACES can be found after logging into the user account at the income tax e-filing site.It can also be downloaded via a net banking account, provided the bank provides the e-filing login facility. The list of banks providing this facility is available at: contents.tdscpc.gov.in/en/netbanking.html
Steps to Verify TDS Certificate on TRACES Portal :
Taxpayer has to visit the website www.tdscpc.gov.in. TRACES homepage will appear; click on “Continue” to proceed further.
1st step : Log in to the TRACES website and select the Taxpayer/PAO option, then enter “User ID”, “Password”, and “Verification Code” to proceed further.
Step 1 continues: The landing page will be displayed on the screen.
2nd step: Click on the “View / Verify Tax Credit” tab. Then click on “Verify TDS Certificate”.
3rd step: Mention “TAN of Deductor”, “TDS Certificate Number”, “Total amount deducted as per Certificate”, select “Assessment Year”, and “Source of Income”, and click on “Validate”.
4th step: Upon clicking on “Validate” ” details reflecting on the TDS Certificate will appear on the screen.
The digital signature should be verified
In case the TDS certificate is digitally signed, check for the signature validity. You need to make sure the signature has a checkmark on it. An unverified signature will bear a question mark over the signature instead of the check mark.
Must check details on the TDS certificate
On the TDS certificate, the Name, PAN, Deductor’s TAN, Amount paid by the payer, and TDS amount should all be properly displayed.
Cross check the TDS certificate figures with form 26AS
You should always verify whether the TDS shown in the TDS certificate received from the deductor has been received by the Government or not. This can be ensured by comparing the TDS certificate details with the Form 26AS.
It is the duty of a taxpayer to verify whether the deductor has deducted tax on each transaction on which it was supposed to be deducted. It is also required to check that TDS, which is mentioned in Form 16/16A, is reflected in Form 26AS.
In case the TDS shown in the TDS certificate is not reflected in Form 26AS, it would imply that even though the deductor has deducted the tax, the TDS has not been deposited, or it has not reached the income tax department.
In case of any discrepancy between the TDS certificates and Form 26AS, you have to inform the deductor and ask for the reasons for this discrepancy and get it corrected. A possible reason behind the mismatch can be if PAN has been incorrectly entered in the records of the deductor.
In case the deductor has not deducted the tax, then it is the responsibility of the deductee to ask the deductor to deduct the tax and deposit the same with the Government.
Why TDS certificate when all information is available from 26AS ?
All the information related to TDS is available in Form 26AS, which is sufficient to file one’s return. This will enable the taxpayer to cross-check the details mentioned in TDS certificates with those mentioned in Form 26AS. This also creates transparency in the details.
TDS certificates are important because these certificates and Form 26AS are cross-checked for each other. In case there is a mismatch it can be corrected with relevant documents. Without the TDS certificate, information mismatch cannot be identified.
Next, the return goes through the IT department’s e-processing system. If it passes without any problem, then TDS certificates may not be required to be shown/submitted. But in case the return gets picked up for scrutiny, then the need for TDS certificates will rise. It has to be directed to the IT department when required.
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For more details about form 26AS, check out our blog – https://saral.pro/blogs/form-26as