It is the season of Income Tax Returns, collection of Form 16, Form 16A and other details from your employers, banks, companies and from many other institutions and organizations where you have invested your money and the investment qualifies for deduction of tax at source. In the world of online transactions, Income Tax Department has initiated some extraordinarily good steps for the common taxpayers like I and you. Apart from filing online tax returns, you can now verify the details of tax credits, TDS, tax refunds and other important details online through the website of Income tax Department.

What are the benefits of verifying tax credits online?

It enables you to ascertain the correctness of TDS and TCS claims in the Tax Returns filed by you with the Income tax Department.
You can verify TDS and TCS reported by the tax Deductors and Collectors and in case if the data does not match, you can take up the matter pertaining to any deficiencies or mismatches with your Deductor or Collector so that the corrective action can be taken by them by filing an updated E-TDS return with NSDL with your correct PAN or TDS amount. For instance, I had recently come across a case of mismatch in TDS data for my Term Deposit with a nationalized bank. The bank was issuing me TDS Form 16A since last three years but the data was not uploaded due to some technical problems. I would never have come to know about the mismatch if I were not to verify the online data about tax credit.
Mistakes can happen at your end as well especially in respect of the PAN and TAN. In such cases, you can identify claims made by you using invalid TAN. In all cases where TAN is invalid the "Name of the Deductor" is mentioned as "INVALID TAN" and in all such cases no match is possible. The TAN in these cases would have to rectified by you by filing a revised Return of Income with correct TAN.
You can also see the details of Tax Refunds sent to you by the Income Tax Department
How to verify tax credits online?

The entire process is very simple. Here is the step-by-step procedure.

Open the website of Income Tax Department E-Filing

Click on the Link "New User Register"
Enter your PAN and Press 'Click Me" button. Next, you will come across a page asking you to enter your date of birth, email id and password. This completes the registration procedure. Remember your password. Your login id is your PAN. Once you have successfully registered on the Income Tax site, you can go back to home page and login.
On successful login, you will see a page with various options on the top.

On the right top side, you will see "My Account", under which you will find several options. Now, click on'View Tax Credit Statement (Form 26AS) and

fill in all the details such as Assessment Year, Date of Birth and the CAPTCHA code and submit.
Next, press confirm and you will be taken to another website and webpage, which will show you Form 26AS containing all the details of Tax Credit such as TDS, TCS and Tax Refund
Summing Up:

With the easy access to online tax returns and user-friendly website of Income Tax Department, it has become extremely simple to file your returns electronically and to check your tax credits and tax refunds online. You may visit Financial Awareness Portal for a detailed procedure with screenshots

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