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Tax Deducted at Source (TDS) is a mechanism through which the Income Tax Department collects tax at the time income is generated. Under this system, the person making a payment such as salary, interest, rent, or professional fees deducts tax before releasing the payment and deposits it with the government on behalf of the taxpayer. Since TDS is deducted before the income reaches you, it becomes important to regularly check whether the deducted amount has been correctly deposited and reflected against your PAN.
Checking your TDS amount ensures that you receive the correct tax credit while filing your income tax return. Any mismatch or missing TDS entry can result in notices, refund delays, or additional tax demands. Fortunately, the Income Tax Department provides multiple online ways to verify TDS details easily.
TDS Return is a statement that a person or entity who deducts tax at source is required to file with the Income Tax Department. This return contains complete details of the tax deducted and deposited on behalf of the deductee.
In simple terms, when an employer, bank, or business deducts TDS while making a payment such as salary, interest, rent, or professional fees, the deductor must report this information to the Income Tax Department through a TDS return.
A TDS return includes key details like the PAN of the deductee, TAN of the deductor, amount paid, TDS deducted, and the date of deposit. Once the return is filed correctly, the deducted tax reflects in the deductee’s Form 26AS and Annual Information Statement, allowing the taxpayer to claim credit while filing the income tax return.
Step 1: Log in to the official Income Tax e-Filing portal using your PAN and password.
Step 2: On the dashboard, go to e-File > Income Tax Returns > View Form 26AS.
Step 3: You will be redirected to the TRACES portal. Agree to the terms about Form 16/16A from TRACES and click Proceed.
Step 4: Select View Tax Credit (Form 26AS / Annual Tax Statement).
Step 5: Choose the Assessment Year you want to check, view the details in HTML format, and then click Export as PDF to download it.
Step 1: Visit the TRACES website.
Step 2: Enter your PAN Card Number and the deductor's TAN.
Step 3: Select the Financial Year, Quarter, and type of return (salary or non-salary).
Step 4: Submit to view the TDS details reported by that deductor.
Regularly reviewing the TDS deducted against your PAN plays an important role in managing income tax compliance. It helps taxpayers stay informed about their tax position and avoid unnecessary issues later.
Better Tax Estimation: By knowing the exact TDS amount already deducted, you can clearly assess the remaining tax payable or excess tax paid. This makes it easier to plan tax saving investments and avoid last-minute surprises while filing the return.
Accurate TDS Credit While Filing ITR: TDS reflected in Form 26AS and the Annual Information Statement is allowed as a credit against total tax liability. Checking these details ensures that the full TDS amount is claimed correctly and reduces the chances of incorrect tax calculations or loss of eligible credit.
Prevents Tax Notices and Mismatches: Any mismatch between TDS deducted by the deductor and the data available with the Income Tax Department can trigger notices. Regular verification helps identify missing or incorrect entries early so that corrections can be made before return processing.
TDS statements contain several key details that help taxpayers verify tax deductions and ensure correct credit while filing income tax returns. The important information available in TDS statements includes the following:
Deductor Details: The statement mentions the name of the deductor, TAN, and PAN. This helps identify who deducted and deposited the tax on your behalf.
Deductee Information: Your name and PAN are reflected in the TDS statement to ensure that the deducted tax is correctly linked to your tax records.
Nature of Payment: Details about the type of income on which TDS is deducted, such as salary, interest, professional fees, or contract payments, are clearly mentioned.
Amount Paid or Credited: The total amount paid or credited to you by the deductor during the financial year is shown in the statement.
TDS Deducted: This section displays the exact tax amount deducted from each payment.
TDS Deposited with Government: The statement confirms whether the deducted tax has been deposited with the Income Tax Department along with the challan details.
Date of Deduction and Deposit: Dates on which the tax was deducted and deposited are provided, helping track compliance timelines.
Assessment Year and Financial Year: These details clarify the period to which the TDS belongs, which is crucial while filing the ITR.
You can check your TDS details through Form 26AS or the Annual Information Statement available on the income tax portal. These statements show the TDS deducted and deposited against your PAN.
A TDS certificate is issued by the deductor as proof of tax deduction. For salary income, Form 16 is issued, while for other incomes, Form 16A is provided.
Yes, filing an income tax return is required to claim credit for the TDS deducted. If your total income is below the taxable limit, filing an ITR allows you to claim a refund of the excess TDS.
TDS is deducted by the payer at the time of payment, while advance tax is paid directly by the taxpayer in instalments.
The TDS amount is deposited with the Income Tax Department and reflected in your tax records. It is adjusted against your total tax liability at the time of filing your income tax return.
Where the value of taxable supply of goods or services or both exceeds under a contract Rs. 2.5 lakh excluding GST.