ITR Filing 2025: The season of filing Income Tax Return (ITR) has started. Excel utility of ITR-1 and ITR-4 is available for download on the Income Tax website. So far more than 1,23,075 people have filed their ITR.
ITR Filing 2025: The season of filing Income Tax Return (ITR) has started. Excel utility of ITR-1 and ITR-4 is available for download on the Income Tax website. So far more than 1,23,075 people have filed their ITR. If you are also thinking of filing returns, then definitely check an important document Form 26AS because it can save you from notice. If you want to file ITR without mistake and want to avoid tax notice, then definitely check Form 26AS.
What is Form 26AS?
Form 26AS is a consolidated tax statement issued by the Income Tax Department. It contains information about all tax deductions, advance tax, TCS (Tax Collected at Source), refunds and high-value transactions on your PAN. By looking at it, you can know how much tax has been deposited on you and whether any tax has been missed.
Why is it necessary to see Form 26AS?
Every year thousands of people get tax notices due to mistakes in ITR. In most cases, the reason for this is not matching the information with Form 26AS.
It saves you from under-reporting i.e. showing less income.
There is no delay in tax refund.
The risk of tax scrutiny is reduced.
Form 16 provides information about tax received from sources like interest on FD or income from shares.
If you do not want to get a tax notice, then definitely check Form 26AS. This determines whether the TDS/TCS deducted on you is recorded correctly or not.
How to download Form 26AS?
Log in to www.incometax.gov.in.
Go to the Income Tax Returns section.
Click on View Form 26AS.
You will be redirected to the TRACES portal.
Select the Assessment Year and download in PDF/HTML.
Mistakes to watch out for
Do not ignore TDS on interest on FD.
Relying only on Form 16.
Not showing advance tax or self-assessment tax.
Not matching with AIS (Annual Information Statement).
What to do if there is a mistake in Form 26AS?
Contact that institution (such as bank or employer) and ask them to correct the TDS return.
File a complaint on the Income Tax portal.
Before filing ITR, definitely check the updated Form 26AS and AIS
What is the difference between AIS and Form 26AS?
AIS is a new document that gives details of all your financial transactions, such as mutual funds, shares, credit card payments, property deals etc. But Form 26AS is still important as it contains official information about tax credits.
What is Form 16 and when will you get it?
Form 16 is a certificate given by your company, which contains information about your salary and the tax deducted on it (TDS). It is very important at the time of filing income tax return. Form 16 for FY 2024-25 is required to be given to your employer by June 15, 2025.
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