Add Tax Credits
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Created by: Priyanka Meghnani
Modified on: Mon, 2 May, 2022 at 7:34 PM
Tax Credits include various taxes paid by or on behalf of a taxpayer in a financial year, such as:
Advance Tax
Self - Assessment Tax
TDS/TCS
There are two ways to add Tax Credits to your Income Tax Return on Quicko
Uploading Form 26AS
Adding tax credits Manually
Uploading Form 26AS
Form 26AS is a consolidated Tax Credit Statement which provides the following details to a taxpayer.
Details of TDS from the taxpayer’s income.
Details of TCS from taxpayer’s payments.
Advance Taxes, Self Assessment Taxes and Regular Assessment Taxes paid by the taxpayers.
Details of the Income Tax Refunds & Interest received during the year.
Details of any high-value transactions (for eg. Shares, Mutual Funds, etc.).
Details of Tax Deducted on Sale of Immovable Property
To add tax credits using FORM 26AS
In Filing tab, navigate to TAX CREDITS from sidenav
Click on Have Form 26AS
Click on drop your Form 16 or Browse
Click on Save
Important:
Make sure that the Form 26AS is:
1. In a PDF Format
2. Of the relevant assessment year
3. Of the same tax payer
To add tax credits Manually
In case you do not have Form 26AS, don't worry! You can still report your credits.
In Filing tab, navigate to TAX CREDITS from side nav
Scroll down to Add Tax credits detail manually
Enter the TDS details for the tax deducted on your behalf
Financial year
Source of Income
TAN/PAN
Name of the Deductor, Credit &TDS Amount
Enter the TCS details for the tax deducted on your behalf
Financial year
TAN & Name of the collector
Debit Amount & Tax Deposited Amount
Enter the details of the for Taxes Paid by You; self-assessment tax or advance tax
BSR Code
Challan Serial
Date of payment & Tax Deposited Amount
Note:
You can add multiple tax credits by clicking on the ADD button
Priyanka is the author of this solution article.
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