Form 26AS
What Form 26AS means, how it works, a worked example, the mistakes we see and the questions founders ask.
DefinitionForm 26AS is your consolidated annual tax statement on the income tax portal, showing all TDS and TCS credited against your PAN, advance tax paid, refunds and high-value transactions.
Whenever someone deducts tax on a payment to you, an employer, a client, a bank on interest, or a buyer of your property, the deduction reaches Form 26AS once their TDS return is processed. It also lists the advance tax and self-assessment tax you paid and any refund issued. You meet it while filing your ITR, because the credit you claim for TDS must match what appears here; a mismatch delays your refund or produces a demand. What it means for you: check it in June before filing and again if a client's payment is missing. If a deductor has not filed their return or has quoted the wrong PAN, the credit will not show, and you have to chase them for a correction. Since 2021, the AIS gives the fuller picture and 26AS the tax credits.
How Form 26AS works
Form 26AS is the annual tax statement maintained on the TRACES portal and opened from the income tax portal through e-File, Income Tax Returns, View Form 26AS. It is built from the TDS and TCS returns filed by deductors, the challans you paid directly, and refunds issued, so a deductor's entry appears only after their quarterly return is processed, typically a few weeks after the 31 July, 31 October, 31 January and 31 May due dates.
The statement has parts for TDS on salary and other payments, TCS, tax paid directly (advance and self-assessment), refunds, TDS on sale of property and rent under Sections 194-IA and 194-IB, and defaults in TDS processing. Since the AIS arrived, the parts that reported SFT and GST turnover were moved there, leaving 26AS as the pure tax credit record.
When the return is processed under Section 143(1), the TDS you claim is matched against 26AS by TAN and amount. Credit that is not in 26AS is denied and a demand is raised, and credit that is in 26AS but not claimed is simply lost unless you revise. Rule 37BA allows the credit to be claimed by the person in whose hands the income is taxed, which matters for joint accounts and partnership income.
A Chennai design studio bills a client ₹5 lakh in March 2026 and the client deducts ₹50,000 under Section 194J. In June the studio finds the entry missing from 26AS because the client filed its fourth-quarter 26Q late. The studio files its return in July claiming the credit anyway, with the Form 16A the client eventually issues, and the 143(1) intimation raises a demand for ₹50,000. A rectification request after the client's return is processed in September clears it, two months later than a check in June would have.
Mistakes we see with Form 26AS
- Claiming TDS from invoices rather than from 26AS, so a client's late or wrong return turns into a demand on you.
- Not noticing that a deductor quoted the wrong PAN, which sends your credit to a stranger until the deductor files a correction statement.
- Missing a TDS entry under a dormant TAN of an old employer and leaving a refund unclaimed for years, when a revised return within the time limit would have recovered it.
Last updated 19 October 2026. Checked against the MCA, GST, Income-tax and Trade Marks rules in force for October 2026.
Where you will meet this term
Questions founders ask about Form 26AS
How soon after a payment does TDS show in Form 26AS?
After the deductor files the quarterly return and it is processed, so a deduction in April normally appears in August, and a March deduction in June. Deductors that file late push the entry later, and the credit cannot be claimed until it appears.
What do I do if TDS is deducted but not in my 26AS?
Ask the deductor for the challan and the return acknowledgement. If they have not filed or quoted a wrong PAN, only they can correct it by filing a correction statement. If they refuse, you can claim the credit with evidence and the officer can proceed against the deductor under Section 205, which bars demanding from you tax that was already deducted.
Can I download Form 26AS for earlier years?
Yes, the TRACES view keeps statements for past years. You need them when a notice arrives for an old year or when claiming a refund through a condonation application under Section 119(2)(b).