The segment will also have the seller’s TAN details. This is collected by the seller of specified goods at the time of sale. This section contains details of TCS or tax collected at source. The TDS on your sale of the property is recorded in this section. When you sell a flat or office or plot, the buyer must deduct TDS from the amount being paid. Part A2: TDS on sale of Immovable Property u/s194 (IA) (for the seller) If you fail to submit Form 15G or 15H or if it does not apply to you, you will see ‘No transactions present’ here. When a taxpayer submits Form15G or 15H to prevent TDS from getting deducted, those details are captured in this section of Form26AS. This section also has the details of the deductors like their TAN and the amount deducted and deposited. These details will also show on your Form 26AS. If you are in receipt of rent higher than Rs.50,000 a month, then the tenant is required to deduct tax at source before paying the rent to you. This part contains details of tax deductions, including tax deducted on your salary by your employer, on interest income by your bank, on your pension, or rent. Details of tax deducted on the sale of property or any other high-value transactions, among others.Ĭomponents Of Form 26AS Part A: Tax Deducted at Source (TDS).Details of Annual Information Report (AIR) and high-value transactions.Details of tax deducted at source and of the deductors.In the guide below, we outline everything you possibly need to know about Form 26AS, including its parts, where you can find it and how you can download it. Any mismatches between details filed in Form26AS and your income tax returns could call for an inquiry. There must be no difference in the TDS amount being claimed in your tax return and the TDS amount updated in Form 26AS. You must make sure, the claims in Form 26AS match with all the taxes you have paid. Form 26AS is also proof of the TDS deducted by your buyer, bank or employer since it also contains details of the deductors. It is important to have Form 26AS handy while filing your tax returns and not just because it makes claiming tax credit easier.

Form 26AS is a form that includes taxes deducted at source, taxes collected at source, details about deductions on high-value transactions, advance taxes and tax deducted for sale of property among other deductions.įorm 26AS is your single source for information on all the tax deductions made on your income.

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