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Friday, May 10, 2013

Information A taxpayer can view in Form 26AS

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It is general phenomena amongst the tax payers that in form 26AS they can only view the details of TDS deducted, Advance tax and Self Assessment tax Paid.But in addition to these a taxpaer can view in 26AS the information on his income tax Refund and his transaction in Mutual Fund, Shares and Bonds, Immovable properties etc. (as reported by AIR filer).
Details in Form 26AS
  • Details of tax deducted on behalf of the tax payer by deductors
  • Details of tax collected on behalf of the tax payer by collectors
  • Advance tax / self-assessment tax / regular assessment tax etc. deposited by the tax payers (PAN holders)
  • Refund received during the financial year
  • Details of following transactions done by you (as reported by AIR filer)
    • Cash deposits in saving account (Rs. 10 lakh and above)
    • Credit card bills (Rs. 2 lakh and above)
    • Mutual Fund purchase (Rs. 2 lakh and above)
    • Purchase of bonds/debentures (Rs. 5 lakh and above)
    • Purchase of shares of a company (Rs. 1 lakh and above)
    • Purchase of immovable property (Rs. 30 lakh and above)
    • Sale of immovable property (Rs. 30 lakh and above)
    • Purchase of RBI bonds (Rs. 5 lakh and above)

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