CBDT notifies revised Form 26AS, to include details of property, share deal

To implement this, the Budget 2020-21 had introduced a new Section 285BB in the Income Tax Act

The Income Tax Department on Thursday notified the revised Form 26AS, containing details of tax collected or deducted at source which will now include information pertaining to property and share transactions.

With this, 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.

To implement this, the Budget 2020-21 had introduced a new Section 285BB in the Income