Checking tax credit statement before filing Income Tax Return

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Hi,

For tax payers why checking tax credit statement is very important?

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Form 26AS is also known as the Tax Credit Statement. It is your annual consolidated tax statement with detailed information about the income you have earned, and taxes paid in a year. The details in this form are based on the information that the tax department has regarding your income and tax payments for the financial year.

This information is classified quarter wise and client wise based on TAN number. In case you are employed, the Form 26AS will map your employer based on the TAN number. You can access Form 26AS from the tax department’s website.

A few things you must check in Form 26AS before filing a tax return are -Compare FORM 26AS with FORM 16, Check for error in Form 26AS, Sync ITR with Form 26AS, Mismatch in the Form 26AS. Check more here.

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