Tax payer is entitled to obtain a certificate from the tax deductor u/s 203 of Income Tax Act, 1961 in Form 16-A specifying the amount of tax deducted and other prescribed particulars. TDS certificate in Form 16-A shall be treated as valid only if it is downloaded by the deductor from the TIN website.
Form 26AS is a consolidated tax statement issued under Rule 31 AB of Income Tax Rules to PAN holders. This statement, with respect to a financial year, will include details of:
- Tax deducted at source (TDS);
- Tax collected at source (TCS); and
- Advance tax / self-assessment tax / regular assessment tax etc., deposited in the bank by the taxpayers (PAN holders).
- Paid refund received during the financial year
- Details of transaction of Mutual Fund, Shares and Bonds.