The number of Income Tax Returns filed by the July 31 deadline touched a new high of 6.77 crore this year, 16.1% higher than a year ago, with 53.67 lakh taxpayers filing returns for the first time. A little less than 10% of all return filings took place on July 31, the last date for filing without penal levies, as …
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 …
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 …
