A guide on how to check TDS status by pan card. We start with understanding what TDS is. A stepwise process checks TDS status using the pan card and then details to check TDS credit using form 26AS.
Paying TDS or Tax Deducted at Source has become one of the integral parts of transactions made by individuals at different levels. Whether you are a salaried person or a business owner, you cannot deny paying a certain portion of your income to the government. However, with the increasing need for paying TDS across diverse domains, people have been facing several issues, including issues in checking the TDS status. Other challenges include non-updated digital signatures with the income tax portal, unavailability of electronic forms, and constant errors in uploading the documents.
However, paying the TDS and checking its status is not as complex as before. You can check the status online with a few easy steps. But before delving into the procedure, let us first understand the fundamentals of TDS payments.
TDS (Tax Deducted at Source)
TDS (Tax Deducted at Source) is the government’s means of collecting tax on an individual’s income or profits by obligating the payer to deduct the tax before paying the balance amount to the payee. The purpose of TDS is to collect tax from the very Source of income and improve the tax coverage in the economy.
Any person stated under the Income Tax Act 1961 is liable to TDS. It is managed by the government authority Central Board of Direct Taxes (CBDT). TDS must be paid on the transfer of immovable property within 30 days from the end of the month the deduction is made.
How To Check TDS Status By Pan Card?:TDS Returns
It is a Quarterly statement submitted by the deductor to the Income Tax Department. TDS return summarises all entries for TDS collected by the deductor and TDS paid by the deductor to the Income Tax Authority. It includes details such as:
- Permanent Account Number of the deductors and the deductees.
- Details of the amount paid to the tax department of the Indian government.
- The details regarding the TDS challan.
Checking TDS Status Using PAN Card
With the development of online platforms and innovative technologies, checking the TDS status has become relatively easier and quicker. One can check the status of TDS with the help of a PAN card by following the steps mentioned below:
- Visit the official portal- https://www.tdscpc.gov.in/app/tapn/tdstcscredit.xhtml
- Enter the verification code.
- Click on the ‘Proceed’ option.
- Enter the Permanent Account Number (PAN) and Tax Deduction Account Number (TAN) details.
- Choose the financial year and the quarter and the type of return filed.
- Click on the ‘Go’ option.
- The needed details will be displayed on the corresponding screen.
There are different TDS return status messages displayed on the screen based on the stages of TDS filing. Such as not determined, refund paid, contact jurisdictional assessing officer, etc.
What Is Form 26 QB?
It is a return-cum-challan form for the payment of TDS. As per Income Tax Act, any company or person making the payment must deduct tax at Source if the payment exceeds a certain threshold limit defined by the tax authority.
What Is Form 16 B?
Form 16 B is a certificate on sales of property. Indicates the amount of money paid as property Tax Deducted at the Source
How To Check The TDS Credit Using Form 26AS
Ordinarily, the salaried individuals are issued a Form 16 at the end of every financial year. It reflects the tax deducted from their salary and deposited with the income tax department. However, non-salaried individuals, typically business owners, can check their TDS status using Form 26AS.
Form 26AS is a statement that provides details of the amount deducted as TDS from various sources of income of a taxpayer. It also consists of details regarding advance tax or self-assessment tax and high-value transactions of the taxpayer. To check TDS credit using Form 26AS, one needs to follow the steps mentioned below:
- Visit the official portal – https://www.incometax.gov.in/iec/foportal
- If not yet registered, register yourself on the website by entering the required details
- If you are already registered, log in using your credentials.
- Select ‘My Account’
- Select the ‘View Form 26AS’ option.
- Click on ‘Year’ and ‘PDF format.’
- Download the required file.
- The file will be password protected and can be opened by the Date of Birth as mentioned on your PAN card.
E-governance policies of the government had made tax filing procedure much easier than before. TDS return services can be accessed online on the official website.
Details Included In Form No.26AS TDS Statement.
Form No.26AS is a summarised TDS statement that consists of the following important information regarding a person’s income and the corresponding tax deducted at the Source:
- The amount of tax deducted by the deductor on behalf of the taxpayer
- The amount of tax collected by collectors on behalf of the taxpayer
- The amount of tax deducted on the sale of immovable property
- Advance tax or self-assessment tax or regular assessment tax, deposited by the taxpayers with the individual’s PAN number
- The Details of the refund received during the particular financial year.
- All the Details of transactions in a mutual fund, shares, bonds, etc.
- Detailed information on the TDS Defaults related to the processing of respective statements.
It is also critical to note that the details provided in this statement are specific to your Permanent Account Number (PAN).
How Can Vakilsearch Help?
The collective efforts of both citizens and the government in filing the TDS returns online have become easier and expedited. That said, several people find it daunting to navigate the government websites, understand the legal terms, and keep up with the latest updates in the rules and regulations related to taxes cannot be denied.
Suppose you have been facing similar obstacles in understanding the subtle complexities of the procedure. In that case, you must certainly visit us at Vakilsearch, your one-stop solution for all of your concerns in navigating the laws. With our online TDS payment solution, you can seamlessly deal with your TDS-related requirements.
We provide services that cater to the legal requirements of small and large businesses. Our services include accounting documentation, incorporation, government registrations, tax filings, etc. To learn more about services, visit our website now.
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