TRACES (TDS Reconciliation Analysis and Correction Enabling System)

Form 26AS, known as the Tax Credit Statement, holds significant importance in tax filing processes. In the past, individuals had to download this form manually to file their income tax returns. However, its scope has broadened to encompass various financial transactions like foreign remittances, mutual fund purchases, dividends, and refund details. This consolidated document provides a comprehensive record of tax-related information associated with an individual’s PAN (Permanent Account Number). Accessible through the TRACES (TDS Reconciliation Analysis and Correction Enabling System) website, Form 26AS helps individuals verify the accuracy of TDS certificates and ensures that the deducted tax amounts are correctly deposited with the income tax department.