Out Of This World New Form 26as
12 New transactions in New 26AS making disclosure of total 25 transactions Income Tax Form 26AS is a tax credit statement showing details of tax deducted collected at source self-assessment tax paid advance tax paid etc.
New form 26as. The Finance Act 2020 has inserted a new section 285BB regarding Annual Information Statement in order to expand the scope of Form 26AS beyond the information related to taxpayers tax deducted and tax collected. The New Annual Information Statement AIS will be effective from 01062020 and from that date the old Form 26AS will become obsolete. AIS is the new format as prescribed by the department which is discussed here.
For downloading Form 26AS a taxpayer needs to follow the following steps. Your tax passbook ie Form 26AS will now come with a new format effective from 1st June 2020 FY 2020-21. In that effect CBDT has notified new FORM 26AS Annual Information Statement via Notification No.
View Tax Credit Statement Form 26AS Perform the following steps to view or download the Form-26AS from e-Filing portal. Budget 2020-21 had introduced a new Section 285BB in the Income Tax Act to implement revised Form 26AS. Along with a new format effective from June 1 2020 your Form 26AS will now contain information regarding tax refunds and demands if any against your name.
Logon to e-Filing Portal wwwincometaxindiaefilinggovin. Taxpayers will see improved form 26AS called Annual Information Statement applicable from 01st June 2020. In consequence of insertion of section 285BB in the Income Tax Act 1961 by the Finance Act 2020 form 26AS has been substantially revamped now it will not b.
The Central Govt has recently notified the changes to Form 26AS. A New Form 26AS format was introduced and came in effect on 1st June 2020. Form 26AS will also have information about specified financial transactions such as stocks you have bought or sold real estate transactions payment details of credit card bills etc.
Part A contains certain basic information of the assessee that is Permanent Account Number Aadhaar number Name date of birth. In May the Income Tax Department notified the new annual information statement in Form 26AS. 302020 dated 28th May 2020 Rule 31AB has been omitted and Rule 114-I has been inserted after Rule 114H to share annual financial information in respect of each taxpayer not only of.