TDS which stands for Tax Deducted at Source (TDS) is a means of collecting income tax from individuals and entities under the Income Tax Act of 1961. All amounts covered under the provision of TDS is needed to be paid after deducting the prescribed percentage. TDS which is managed by the Central Board of Direct Taxes (CBDT) comes in handy while conducting tax audits.
What is TDS return?
TDS Return is a quarterly statement which is needed to be submitted to the Income Tax Department.
Details Contained In TDS Returns
TDS returns include details of the deductor(s) Permanent Account Number (PAN), particulars of the tax paid to the government, information regarding the TDS challan among other details as required in the forms that are to be submitted.
How To Check TDS Status By Pan Card?
To check the status of TDS using the PAN card, one needs to follow the steps mentioned below:
- Visit www.tdscpc.gov.in/app/tapn/tdstcscredit.xhtml
- Key-in the verification code
- Click on ‘Proceed’
- Enter the PAN and TAN
- Select the financial year as well as the quarter and the type of return
- Click on ‘Go’
- The details will be displayed on the corresponding screen
How To Check TDS Credit Using Form 26as?
In a bid to check TDS credit using Form26AS, one needs to follow the steps mentioned below:
- Visit www.incometaxindiaefiling.gov.in/home
- Register yourself
- If already a registered user, log in using the credentials
- Go to ‘My Account’
- Click on ‘View Form 26AS’
- Select ‘Year’ and ‘PDF format’
- Download the file
- The file which is password protected can be opened by the Date of Birth as per the PAN card
Apart from knowing TDS status through PAN and Form 26AS, one can also view their TDS online by using the net banking portal. However, for that, the PAN has to be linked to the net banking portal.