Tax

Form 26AS

Also known as: Annual Tax Statement, Tax Credit Statement

Annual tax statement showing all TDS deducted, advance tax paid, and other tax-related transactions.

Detailed Explanation

Form 26AS is an annual consolidated tax statement available on the Income Tax e-filing portal that shows all tax-related transactions including TDS deducted by various deductors, advance tax and self-assessment tax paid, refunds received, and tax collected at source (TCS). It's essential for reconciling tax payments before filing ITR and claiming credit for taxes already paid.

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Related Terms

TDS

Tax Deducted at Source - Tax collected by the payer before making payment to the payee.

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Advance Tax

Quarterly tax payments made during the year for income not subject to TDS.

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AIS

Annual Information Statement - Comprehensive statement of financial transactions reported to tax authorities.

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