Form 26AS
Definition
An annual tax statement from the Indian Income Tax Department showing tax deducted at source, tax collected at source, advance tax and self-assessment payments credited against a PAN. Reconciling it before filing is what catches credits a deductor has reported incorrectly or not at all.
Related Terms in India GST
Annual Information Statement (AIS)
A broader statement than Form 26AS, presenting information the Income Tax Department holds about a taxpayer including interest, dividends, securities and property transactions, with a facility to submit feedback on entries that are wrong.
Advance Tax
Indian income tax paid during the year in instalments rather than at filing, required once estimated liability after credits exceeds a prescribed amount. Instalment due dates and the cumulative percentage payable by each are set in the Income-tax rules, with interest charged for shortfall or deferment.
TAN
The Tax Deduction and Collection Account Number, a ten-character identifier that any person deducting or collecting tax at source in India must obtain and quote on TDS returns, challans and certificates. Separate from PAN, and required before any TDS can validly be deposited.
GST (Goods and Services Tax)
India's unified indirect tax replacing multiple central and state taxes. After the GST 2.0 rationalisation (effective 22 September 2025) it applies at 0%, 5%, 18%, and 40% rate slabs, plus special rates for precious stones and metals (0.25% / 1.5% / 3%). Includes CGST (central), SGST (state), and IGST (inter-state). HelloBooks fully supports GST compliance.
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