Manage Tax Credits

Manage Tax Credits

Tax Credit is the income tax paid for the year including TDS (Tax deducted at source), TCS (Tax collected at source), advance tax, and self-assessment tax. These tax credits are deducted from your total tax liability, reducing the outstanding tax payable. Here's how you can add or delete your tax credits.


How do I add tax credits?

There are three ways to add your tax credits:


  1. Import from ITD using Autofill

    • Navigate to File > Tax Credits

    • Click on Import from ITD using AutofillClick on Import from ITD using Autofill

    • Connect to ITD via Aadhaar OTP or credentialsConnect to ITD via Aadhaar OTP or credentials

      Once connected, we will automatically import tax credits i.e. TDS, TCS, advance tax, and self-assessment tax.

  2. Upload Form 26AS


    • Navigate to File > Tax Credits

    • Click on Upload Form 26ASClick on Upload Form 26AS

    • Attach your Form 26AS. You can download Form 26AS from your income tax account.Attach your Form 26AS. You can download Form 26AS from your income tax account.
       
    • Review the details fetched and proceedReview the details fetched and proceed


    3. Add Manually

       

  • Navigate to File > Tax Credits

  • Click on add manually and proceedClick on add manually and proceed

  • Select the type of tax credit you want to addSelect the type of tax credit you want to add

  • Add the required details such as TAN, name, amount, etc.

You can refer to AIS for details of the advance tax and self assessment tax for the financial year.



Steps to Delete All Tax Credits

You can delete all your tax credits at once and add them again. Here's how to do it:


  • Navigate to File > Tax Credits. Click on three dots icon and click on Delete

  • Confirm the actionConfirm the action




If you still have any further queries, you can raise a ticket to get in touch with us.

    • Related Articles

    • Autofill Tax Credits from ITD

      If you've paid advance tax or TDS is deducted, purchased a car (TCS is collected), or paid a self-assessment tax at the time of filing the ITR, all can be claimed under tax credits. Here's how you can import it from ITD. Steps to autofill tax credits ...

    • How to add tax credits using Form 26AS?

      Form 26AS is your annual tax statement. It contains the details of all the taxes that have been paid against your PAN. This could be your TDS deducted from salary, interest, or TCS. You can download your Form 26AS by logging in to the e-filing ...

    • Understanding Tax Computation Report

      A tax computation report is a summary of your tax return. It is divided into four main sections: Personal details - Name, PAN, email, etc. Income tax return details - Return type, regime, filing date, acknowledgment number. Tax computation summary - ...

    • Claim Tax Collected at Source

      When making high-value purchases, like buying a car or booking an international trip, you might notice an extra charge on your bill labeled as Tax Collected at Source (TCS). This is collected by the seller and deposited with the Income Tax Department ...

    • Update Tax Deducted at Source

      TDS (Tax Deducted at Source) is the tax that’s deducted by the payer from your income before you receive it. This could be from your salary, professional income, rent, etc. The payer then deposits this tax with the Income Tax Department on your ...