Tax deducted and collected on behalf of taxpayers.
In case your tax credit is not reflected correctly in your Form 26AS, verify you PAN numbers and ask the deductor to file the TDS statement/correct statement at TIN Facilitation centers. Now after filing TDS return by the bank, a tax credit of ₹ 8,000 will get reflected in your respective Form 26AS. from April to June and then bank filed TDS return in July. Bank paid interest of ₹ 72,000 (₹ 80,000- ₹ 8,000) after deducting TDS of ₹ 8,000 under section 194A for the period of 3 months i.e. Let’s say you have a fixed deposit of ₹40 lakhs with Bank of Baroda 8% p.a. It shows the amount of Tax Deducted (TDS) from your income and is available as a credit against your tax liability if any. How to Convert 26AS Text file to Excel File?įorm 26AS is a consolidated Tax Credit Statement issued under rule 31 AB of Income Tax Rules of India to PAN Holders.