Income tax department changes Form 26AS from this assessment year
4 years, 5 months ago

Income tax department changes Form 26AS from this assessment year

Live Mint  

The income tax department today said that from this assessment year, taxpayers will see an improved Form 26AS which would carry some additional details on taxpayers financial transactions as specified Statement of Financial Transactions in various categories. The Central Board of Direct Taxes said the Form 26AS relating to a PAN earlier used to give information regarding tax deducted at source and tax collected at source besides certain additional information including details of other taxes paid, refunds and TDS defaults. Form 26AS is an annual consolidated tax statement that can be accessed from the income-tax website by taxpayers using their Permanent Account Number. Form 26AS has now been revamped to an 'Annual Information Statement' which apart from the TDS/ TCS details, shall now contain comprehensive information relating specified financial transactions, payment of taxes, demand/ refund and pending/completed proceedings undertaken by a taxpayer in a particular financial year that has to be mentioned in the income tax returns.

Tax Financial Transactions Changes Form  financial  transactions  taxpayers  statement  taxes  26as  changes  form  assessment  tax  income  department  details  information

History of this topic

What is the purpose of form 26AS while filing an income tax return? We explain
1 year, 5 months ago

What is the purpose of form 26AS while filing an income tax return? We explain

Live Mint  

As the last date to file income tax return looms closer, tax payers are busy arranging the documents in time to avoid breaching the July 31 deadline. The key documents that are needed to file an income tax return include bank statements, form 16 from the employer, receipts of insurance payments and other investments that are eligible for tax exemptions, …

Income Tax Return: Why You Need Form 26AS When Filing ITR?
1 year, 9 months ago

Income Tax Return: Why You Need Form 26AS When Filing ITR?

News 18  

Form 26AS is a statement which shows various details including tax deducted or collected at source, Advance Tax or Self-Assessment Tax, Specified Financial Transactions Demand/refund pending/completed proceedings for a taxpayer’s Permanent Account Number as per Income Tax Department’s database. A taxpayer may pay tax in any of the following forms: – Tax Deducted at Source – Tax Collected at Source …

CBDT Notifies New Form 29D For Refund Of Tax Deducted
2 years, 4 months ago

CBDT Notifies New Form 29D For Refund Of Tax Deducted

Live Law  

The Central Board of Direct Taxes has notified the new Form 29D for refund of tax deducted. The amendment added a new Rule 40G to the Income-tax Rules of 1962 relating to Refund Claim under Section 239A. Section 239A states that if no tax deduction was required, a taxpayer may apply to the Assessing Officer for a refund of tax …

What is Account Information Statement: All you need to know
3 years ago

What is Account Information Statement: All you need to know

Hindustan Times  

The Income Tax Department on November 1 launched a new feature known as the Annual Information Statement, which is a detailed statement of all financial transactions carried out by a taxpayer in a financial year. Part B, meanwhile, has comprehensive details such as tax deducted at source, tax collected at source specified financial transactions, payment of taxes, tax demand, refund …

Form 26AS tweaks make paying taxes easier and evasion harder. Here's how
3 years, 1 month ago

Form 26AS tweaks make paying taxes easier and evasion harder. Here's how

Business Standard  

The Income Tax department recently expanded the scope of information that is to be included in Form 26AS, making it more comprehensive. The fresh information to be uploaded in form 26AS includes interest on income tax refund, remittances received from overseas, dividend from mutual funds, and purchase of mutual funds, among others. Yes, this is a step towards faceless digital …

How to download Form 26AS from the new Income Tax Portal| Check step-by-step guide here
3 years, 6 months ago

How to download Form 26AS from the new Income Tax Portal| Check step-by-step guide here

India Today  

Recently, the Income Tax Department in India has launched its new e-filing portal, making the tax filing or Income Tax Return filing procedure faster and better for the users. Tweeting about the same, the income tax department wrote, "We proudly present to our valued taxpayers, the new e-Filing portal http://incometax.gov.in. So if you're looking to download Form 26AS on the …

Income Tax Calendar 2021: List of Important Dates for I-T Returns, Audit Reports
3 years, 11 months ago

Income Tax Calendar 2021: List of Important Dates for I-T Returns, Audit Reports

News 18  

In a bid to simplify the taxation process and to reward the honest taxpayers, the government has launched a platform called ‘Transparent Taxation – Honouring the Honest’. Here is a list of month-wise important dates as per the Income Tax Calendar 2021: January January 10: Last date for filing of Income Tax Returns for those who need no audit January …

ITR Filing: Importance of Form 26AS, key changes for AY 2020-21
4 years, 1 month ago

ITR Filing: Importance of Form 26AS, key changes for AY 2020-21

India Today  

The Central Board of Direct Taxes has notified two Income Tax return forms for the assessment year of 2020-21. Importance of Form 26AS: Form 26AS helps you verify the tax credits and computation of income before filing the income tax return. Apart from this, Form 26AS also reflects details of Annual Information Return, which is filed by different entities based …

How to download Form 26AS: Step-by-step guide
4 years, 5 months ago

How to download Form 26AS: Step-by-step guide

India Today  

Form 26AS is an official form that contains details of the tax deducted from the taxpayer. Here’s how to download Form 26AS: Go to the ‘e-Filing’ Portal www.incometaxindiaefiling.gov.in Now click on the 'My Account' menu, Then click the 'View Form 26AS ' link. Click ‘View Tax Credit ’ Now select the ‘Assessment Year’ and ‘View type’ Click ‘View / Download …

Discover Related