TDS stands for Tax Deducted at Source. It is the mechanism wherein the tax is deducted and remitted to the government at the stage of income generation itself. The person who is supposed to pay the income to us, deduct a certain percentage of money as TDS and remits the same to the government. Only the balance amount is paid to us.
Whatever the TDS deducted against our income, can be verified online, using form 26AS. If you have to verify if TDS status of any one deductor, that can also be verified in TRACES portal, using your PAN and deductor's TAN. You might often wonder, "How do I check my TDS amount?" or "Is there an easy way to keep track of my TDS deductions?" This article will show you how to check your TDS amount online, which will help you pay your taxes.
The important details available in the TDS statements are:
Keeping in tune with your TDS amount is essential for several motives:
The following steps are to be followed to determine the TDS amount deducted under your PAN through the Income tax portal:
Step 1: Login on the e-filing portal
Step 2: On the dashboard, click ‘e-File’ > ‘Income tax returns’ > ‘View Form 26AS’
Step 3: You will be redirected to TRACES. A pop-up will appear. In it, tick the box to agree to use and accept Form 16/16A generated from TRACES and click on ‘Proceed’.
Step 4: Click on the ‘View Tax Credit (Form 26AS/Annual tax statement)’ to view your Form 26AS/Annual tax statement.
Step 5: Select the Assessment Year for which you want to download your 26AS. To download the PDF, please view it as HTML and then click on the ‘Export as PDF’ button.
If you want to check if the deductor has filed the quarterly returns and accurately provided your PAN, follow the below mentioned steps.
Step-1: Visit the TRACES Portal. Enter the captcha code to proceed.
Step-2: Enter your PAN and the deductor's TAN.
Step-3: Choose the financial year, the quarter, and the type of return (against salary payments or non-salary payments).
Step-4: The details will be displayed on the corresponding screen.
You can also verify the authenticity of the TDS certificate issued by your deductor by following the below steps
Step-1: Visit the official site .
Step-2: Enter the details like your PAN, deductor's TAN, TDS certificate number, the relevant financial year, Income source, and TDS deducted.
Step-5: The portal displays the correct particulars of TDS deducted and other details, you can match it with the particulars given in your certificate for validation of the same.