Check Form 26AS, reconcile with Form 16 before you file your tax return

Claiming excess tax credit in your return could trigger a notice from the tax authorities

Before a taxpayer files his Income-Tax Return (ITR), he should scrutinise Form 26AS and then compare it with Form 16. Any discrepancy between the two can invite a notice from the Income-Tax (I-T) Department. Hence, rectifying mismatches is crucial.

What is Form 26AS?

Form 26AS serves as a consolidated tax statement that offers an overview of the taxes deducted from your income and the tax credits available to you. Anant Singh Ubeja, senior associate, SKV Law Offices, says, “Form 26AS acts as a governmental record of Tax Deducted at Source (TDS) from an individual or company and deposited with the