Central board of Direct Taxes (CBDT) revised the content of form 26AS which was usually contain the information related to TDS/TCS deducted by an employer or deductor. As per the newly introduced section 285BB of income tax act, now June 2020 onwards following information will be part of 26AS statement. Revised form 26AS will be more informative and updated. A taxpayer can easily compare the information reflecting in form with his/her transactions.
All the information/ details will get available at one place, it will easily assist tax authorities doing e-assessment and having no/ limited interaction with taxpayers, fast processing of income tax returns. Tax department will be able to compare information available in Form 26AS and information reported by taxpayer in ITR easily and any mismatch can easily get communicate to the taxpayer by the automated systems.
Form 26AS can be downloaded from the income-tax website by taxpayers using their Permanent Account Number (PAN) and portal password.